Erie Indemnity's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Erie Indemnity (ERIE) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Erie Indemnity vs Its Competitors
- TTM: Trailing 12-month revenue of 4,187M vs 91,131M combined for tracked competitors (4.4% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+4.1% annualized vs trailing 12 months), vs decelerating (-12.7%) for its tracked peer group.
- Growth: Erie Indemnity generated 0.9% revenue growth year over year in Q2 2026, vs -7.0% for its tracked competitors combined.
- Profitability: Its 16.5% net margin compares with 17.3% for the peer group.
- Scale: Erie Indemnity ranks #7 of 30 companies by market capitalization in the Insurance Brokerage industry, holding 3.7% of industry market cap.
- Peer revenue share: Erie Indemnity accounted for 5.2% of combined revenue among its tracked peer group, up from 4.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.63M compares with $0.43M for the peer group (1.5x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ERIE Sales vs. its Competitors, Q2 2026
Erie Indemnity reported revenue growth of 0.94 % year on year in Q2 2026, above its competitors' combined revenue change of -7.00 %.
With a net margin of 16.54 %, Erie Indemnity reported lower profitability than its competitors (17.34 %).
Erie Indemnity generated 5.20 % of the combined sales of its peer group, up from 4.81 % a year earlier.
Erie Indemnity vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Erie Indemnity and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Erie Indemnity Company | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Erie Indemnity's competitor groups requires a Commercial License.
For context: the Insurance Brokerage industry grew revenue 10.7% year over year, combined, vs 0.9% for Erie Indemnity. Erie Indemnity's share of combined industry revenue moved from 2.97% to 2.71%, a loss of 0.26 percentage points.
Erie Indemnity's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Erie Indemnity Company | Yes | Yes | No | Yes |
| Competitors combined (10) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 50.00 % (4 of 8) | 28.60 % (2 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ERIE Stock Performance relative to its Competitors
ERIE Stock Performance relative to High-Confidence Competitors
ERIE Stock Performance relative to Similar-Size Competitors
ERIE Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Univest Financial Corporation | 282.9% | Outperformed |
| 2 | Cullen | 282.9% | Outperformed |
| 3 | Unum Group | 282.9% | Outperformed |
| 4 | Old National Bancorp | 282.9% | Outperformed |
| 5 | Truist Financial Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Erie Indemnity's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Erie Indemnity's Comment on Competition and Industry Peers
The direct and assumed premiums written by the Exchange drive our management
fee which is our primary source of revenue. The property and casualty insurance
industry is highly competitive. Property and casualty insurers generally compete
on the basis of customer service, price, consumer recognition, coverages offered,
claims handling, financial stability and geographic coverage. Vigorous competition,
particularly in the personal lines automobile and homeowners lines of business,
is provided by large, well-capitalized national companies, some of which have
broad distribution networks of employed or captive agents, by smaller regional
insurers, and by large companies who market and sell personal lines products
directly to consumers. In addition, because the insurance products of the Exchange
are marketed exclusively through independent insurance agents, the Exchange
faces competition within its appointed agencies based upon ease of doing business,
product, price, and service relationships.
Market competition bears directly on the price charged for insurance products
and services subject to regulatory limitations. Industry capital levels can
also significantly affect prices charged for coverage. Growth is driven by a
company’s ability to provide insurance services and competitive prices
while maintaining target profit margins. Growth is a product of a company’s
ability to retain existing customers and to attract new customers, as well as
movement in the average premium per policy.
The Exchange’s strategic focus includes employing an underwriting philosophy
and product mix targeted to produce an underwriting profit on a long-term basis
through careful risk selection and rational pricing, and consistently providing
superior service to policyholders and agents. The Exchange’s business
model is designed to provide the advantages of localized marketing and claims
servicing with the economies of scale and low cost of operations from centralized
support services. The Exchange also carefully selects the independent agencies
that represent it and seeks to be the lead insurer with its agents in order
to enhance the agency relationship and the likelihood of receiving the most
desirable underwriting opportunities from its agents.
Publicly Traded Peers of Erie Indemnity Company
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Erie Indemnity Company | - | 4,187.31 |
| Arthur J Gallagher and Co | 58,902.38 | 27,382.50 |
| Truist Financial Corporation | 58,346.39 | 19,028.00 |
| Aon Plc | 58,202.19 | 17,603.00 |
| Brown and Brown Inc | 20,120.16 | 6,790.00 |
| Unum Group | 14,581.40 | 13,347.70 |
| SUBTOTAL | 242,566.86 | 97,855.33 |
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Sources: Erie Indemnity Company's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Erie Indemnity Company versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Erie Indemnity's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Astec Industries Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Erie Indemnity's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Erie Indemnity's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Erie Indemnity Company | Management Operations 97.86 % |
| Arthur J Gallagher and Co | Brokerage 45.31 % |
| Aon Plc | Risk Capital 70.80 % |
| Brown and Brown Inc | Retail Segment 56.50 % |
| Unum Group | Unum US 55.14 % |
| Primerica Inc | Term Life Insurance Segment Revenues 53.24 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Erie Indemnity's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Erie Indemnity Company | - | 628,066 | 86,546 |
| Arthur J Gallagher and Co | 58,902 | 380,313 | 21,874 |
| Truist Financial Corporation | 58,346 | 513,078 | 157,472 |
| Aon Plc | 58,202 | 293,383 | 65,650 |
| Brown and Brown Inc | 20,120 | 296,662 | 53,085 |
| Unum Group | 14,581 | 1,223,437 | 64,409 |
| PEERS TOTAL | 242,567 | 429,624 | 73,421 |
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Erie Indemnity's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Arthur J Gallagher and Co | Other Foreign 4.06 % |
| Aon Plc | Europe, Middle East, and Africa, Other Than United Kingdom and Ireland 16.91 % |
| Brown and Brown Inc | US 86.46 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Erie Indemnity's Position in Industry Market Structure
Market-capitalization share and concentration across all 29 companies in Erie Indemnity's industry classification, broader than the peer set above. Market cap in millions of $.Erie Indemnity ranks #7 of 29 companies by market capitalization in its industry, holding 3.66 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,517, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Marsh and Mclennan Companies Inc | 81,882 | 25.75 % |
| 2 | Arthur J Gallagher and Co | 58,546 | 18.41 % |
| 3 | Aon Plc | 58,493 | 18.40 % |
| 4 | Willis Towers Watson Plc | 27,418 | 8.62 % |
| 5 | Brown and Brown Inc | 1,234 | 5.2% |
| 6 | Equitable Holdings Inc | 1,234 | 5.2% |
| 7 | Erie Indemnity Company | 11,649 | 3.66 % |
| 8 | Fidelity National Financial Inc | 1,234 | 5.2% |
| 9 | First American Financial Corporation | 1,234 | 5.2% |
| 10 | Enact Holdings Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Erie Indemnity's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Erie Indemnity's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 2 | Arthur J Gallagher and Co | 58,546 | -24.75 % |
| 3 | Aon Plc | 58,493 | -22.23 % |
| 4 | Willis Towers Watson Plc | 27,418 | -13.71 % |
| 5 | Brown and Brown Inc | 20,130 | -34.95 % |
| 6 | Equitable Holdings Inc | 1,234 | 12.3% |
| 7 | Erie Indemnity Company | 11,649 | -29.95 % |
| 8 | Fidelity National Financial Inc | 1,234 | 12.3% |
| 9 | First American Financial Corporation | 1,234 | 12.3% |
| 10 | Enact Holdings Inc | 1,234 | 12.3% |
| 11 | Ryan Specialty Holdings Inc | 1,234 | 12.3% |
| 12 | Corvel Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Erie Indemnity's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Erie Indemnity's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Insurance Brokerage industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (18 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 56.03 % (avg) | - |
| Operating Margin | 36.54 % | industry median | +7.6 pp |
| EBITDA Margin | 17.52 % | 1.85 % (avg) | +15.7 pp |
| Capital Intensity (Capex / Revenue) | 3.46 % | 1.24 % (avg) | +2.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Erie Indemnity's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 42.60 % | 4.07 % | 2.34 % | 5.14 % | 6.50 % | 14.63 % | 17.18 % | 7.45 % |
| Operating Margin | -49.84 % | 11.59 % | 33.58 % | 35.06 % | 36.44 % | 36.58 % | 37.09 % | 36.36 % |
| Return on Invested Capital | -57.41 % | 11.84 % | 32.09 % | 32.97 % | 35.43 % | 36.71 % | 37.07 % | 33.19 % |
| P/E | 24.4x | 28.2x | 42.8x | 34.2x | 48.4x | 36.8x | 35.9x | 26.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Erie Indemnity's Strategic Group Map
Every company in Erie Indemnity's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Erie Indemnity is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Erie Indemnity's BCG Growth-Share Matrix
Relative market share (vs Erie Indemnity's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Erie Indemnity falls in the Dog quadrant: relative market share of 0.14x vs its largest competitor, in an industry growing revenue 6.7% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Erie Indemnity's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,517 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 3.46 % vs industry average 1.24 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Erie Indemnity's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Erie Indemnity's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Erie Indemnity's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Erie Indemnity falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Erie Indemnity's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 7.6 points above the industry median.
- Return on equity 8.9 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+4.1% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.14x).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-12.7% annualized).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Erie Indemnity's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Erie Indemnity Company | 0.01 | 1.42 | - |
| Arthur J Gallagher and Co | - | 1.14 | 0.56 |
| Truist Financial Corporation | 0.09 | 0.16 | 1.08 |
| Aon Plc | 0.05 | 1.06 | 1.66 |
| Brown and Brown Inc | 0.15 | 1.38 | 0.62 |
| Unum Group | 0.00 | 0.46 | 0.48 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Erie Indemnity's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Erie Indemnity Company | Q2 2026 | +0.9 % | +3.2 % |
| Arthur J Gallagher and Co | Q2 2026 | -37.4 % | -11.5 % |
| Truist Financial Corporation | Q2 2026 | +8.2 % | +25.2 % |
| Aon Plc | Q2 2026 | +2.2 % | -4.9 % |
| Brown and Brown Inc | Q2 2026 | +30.4 % | +23.5 % |
| Unum Group | Q2 2026 | +0.3 % | -23.5 % |
| PEERS TOTAL | -5.6 % | +8.8 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Erie Indemnity's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Erie Indemnity Company | Q2 2026 | - | +105.0 % |
| Arthur J Gallagher and Co | Q2 2026 | - | +29.4 % |
| Truist Financial Corporation | Q2 2026 | -24.2 % | - |
| Aon Plc | Q2 2026 | - | +14.1 % |
| Brown and Brown Inc | Q2 2026 | - | +13.3 % |
| Unum Group | Q2 2026 | +3.1 % | +4.7 % |
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Erie Indemnity's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Erie Indemnity Company | 16.95% | 23.09% | 24.52% |
| Arthur J Gallagher and Co | 2.03% | 4.08% | 6.69% |
| Truist Financial Corporation | 1.06% | 2.65% | 9.01% |
| Aon Plc | 7.60% | 9.54% | 42.34% |
| Brown and Brown Inc | 4.09% | 5.93% | 9.68% |
| Unum Group | 1.11% | 4.27% | 9.05% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Erie Indemnity's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Erie Indemnity Company | 20.30 | - |
| Arthur J Gallagher and Co | 37.99 | 2.15 |
| Truist Financial Corporation | 10.83 | 3.07 |
| Aon Plc | 15.02 | 3.31 |
| Brown and Brown Inc | 18.54 | 2.96 |
| Unum Group | 21.39 | 1.09 |
| PEERS AVERAGE | 14.63 | 2.48 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.