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Erie Indemnity Company  (ERIE)
Other Ticker:  
 
    Sector  Financial    Industry Insurance Brokerage
   Industry ../Industry/industry_Profitability_Ratios.php?ind=704"> Insurance Brokerage
   Sector  Financial
 
Price: $229.2300 $-3.21 -1.381%
Day's High: $233.94 Week Perf: 2.29 %
Day's Low: $ 228.06 30 Day Perf: -5.01 %
Volume (M): 164 52 Wk High: $ 286.50
Volume (M$): $ 37,640 52 Wk Avg: $218.65
Open: $233.94 52 Wk Low: $158.46



 Market Capitalization (Millions $) 11,986
 Shares Outstanding (Millions) 52
 Employees 4,800
 Revenues (TTM) (Millions $) 2,856
 Net Income (TTM) (Millions $) 263
 Cash Flow (TTM) (Millions $) -94
 Capital Exp. (TTM) (Millions $) 178

Erie Indemnity Company
Erie Indemnity Company is a publicly held Pennsylvania business corporation that has since our incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange"). The Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled, reciprocal insurer that writes property and casualty insurance. We function solely as the management company and all insurance operations are performed by the Exchange. We operate our business as one segment.

Our primary function as attorney-in-fact is to perform certain services for the Exchange relating to the sales, underwriting, and issuance of policies on behalf of the Exchange. This is done in accordance with a subscriber’s agreement (a limited power of attorney) executed individually by each subscriber (policyholder), which appoints us as their common attorney-in-fact to transact certain business on their behalf and to manage the affairs of the Exchange. Pursuant to the subscriber’s agreement and for our services as attorney-in-fact, we earn a management fee calculated as a percentage, not to exceed 25%, of the direct and assumed premiums written by the Exchange. The management fee rate is set annually by our Board of Directors.

The services we provide to the Exchange are related to the sales, underwriting and issuance of policies. The sales related services we provide include agent compensation and certain sales and advertising support services. Agent compensation includes scheduled commissions to agents based upon premiums written as well as additional commissions and bonuses to agents, which are earned by achieving targeted measures.

Our primary purpose is to manage the affairs at the Exchange for the benefit of the policyholders. The Exchange is our sole customer and our earnings primarily come from management fees based on the direct and assumed premiums written by the Exchange. We have no direct competition in providing these services to the Exchange.



   Company Address: 100 Erie Insurance Place, Erie, 16530 PA
   Company Phone Number: 870-2000   Stock Exchange / Ticker: NASDAQ ERIE
   ERIE is expected to report next financial results on April 27, 2023.


Customers Net Income fell by ERIE's Customers Net Profit Margin grew to

-36.29 %

23.52 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AJG   -1.51%    
AON        2.4% 
BRO   -2.04%    
AGO   -11.38%    
CFR   -11.72%    
ONB   -9.84%    
• View Complete Report
   



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