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Erie Indemnity Co - ERIE STOCK NEWS

Welcome to our dedicated page for Erie Indemnity Co news (Ticker: ERIE), a resource for investors and traders seeking the latest updates and insights on Erie Indemnity Co stock.

Erie Indemnity Co. (NASDAQ: ERIE) is a prominent American insurance company headquartered in Erie, Pennsylvania. Established in 1925, the company initially focused on auto insurance but has since expanded to provide a comprehensive range of insurance products, including auto, home, business, and life insurance through a network of independent agents. Today, Erie Indemnity operates in 12 states and the District of Columbia, serving millions of customers with dedication and reliability.

Erie Indemnity Co. primarily manages services on behalf of the Erie Insurance Exchange, covering sales, underwriting, and policy issuance. The company's revenue is directly tied to the Exchange's performance, with a management fee typically set at 25% of the Exchange's premiums. Erie Insurance Exchange is well-regarded for offering automobile and homeowners insurance to individuals, along with multiperil, workers' compensation, and commercial automobile insurance for commercial clients.

Erie's financial stability is underpinned by disciplined underwriting, fair pricing, and a prudent investment approach. These principles have consistently earned the company superior ratings within the insurance industry. According to A.M. Best Company, Erie Insurance Group ranks as the 12th largest homeowners insurer, 12th largest automobile insurer, and 13th largest commercial lines insurer in the U.S. based on direct premiums written. The company is also a Fortune 500 entity and the 19th largest property/casualty insurer in the U.S. based on total lines net premium written, with an A+ (Superior) rating from A.M. Best.

Recent achievements include substantial financial growth. For the quarter ending September 30, 2023, Erie Indemnity reported a net income of $131.0 million, or $2.51 per diluted share, compared to $84.3 million, or $1.61 per diluted share, in the same quarter of 2022. The company's operating income before taxes increased by 39.4% year-over-year. Erie Indemnity's strategic initiatives also extend to innovation through Erie Strategic Ventures, which invests in startups like Wagmo, Roots Automation, and Trust & Will, focusing on tech-enabled solutions in pet wellness, AI-powered insurance operations, and digital estate planning.

The combination of a strong agency network, unwavering customer service, and robust financial health assures customers that Erie Indemnity Co. will be there when needed the most. Erie Indemnity continues to strive for excellence and growth, maintaining its legacy as a reliable and forward-thinking insurance provider.

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Erie Indemnity Company (NASDAQ: ERIE) will host a pre-recorded audio webcast to provide financial results for the fourth quarter and year-end on February 27th. The company will issue a press release reporting its results after the close of the market on February 26th.
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ERIE announces the celebration of 'Insure Your Love Month' in February, emphasizing the importance of life insurance for financial protection of loved ones.
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Erie Strategic Ventures, the venture capital arm of Erie Insurance, announced investments in three new portfolio companies: Wagmo, Roots Automation, and Trust & Will. The investments support startups in tech-enabled pet wellness and insurance, AI-powered insurance operations, and digital estate planning. Erie Insurance, a Fortune 500 company, generated $8.6 billion in direct written premium in 2022 and has a network of over 13,000 independent agents across 12 states and Washington, D.C.
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Erie Insurance (ERIE) ranks No. 1 in both homeowners and renters insurance customer satisfaction, with scores of 856 and 881, respectively, in the J.D. Power 2023 U.S. Home Study.
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Erie Indemnity Company (NASDAQ: ERIE) has announced an increase in shareholder dividends and the maintenance of the management fee rate charged to Erie Insurance Exchange at 25 percent. The regular quarterly cash dividend has been raised from $1.19 to $1.275 on each Class A share and from $178.50 to $191.25 on each Class B share, representing a 7.1 percent increase in the payout per share over the current dividend rate.
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Erie Insurance: Smart Toy Tips to Mitigate Risk of Identity Theft
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Erie Indemnity Company (NASDAQ: ERIE) announced financial results for Q3 and nine months of 2023. Net income per diluted share was $2.51 for the quarter and $6.41 for the nine months of 2023, compared to $1.61 and $4.46 in the same periods of 2022. Operating income before taxes increased by 39.4% in Q3 2023 compared to Q3 2022.
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Erie Indemnity Company to host pre-recorded audio webcast for Q3 financial results
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ERIE Insurance's Future Focus internship program named to RISE's Elite 50 list for the third consecutive year
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Erie Insurance certified as a great place to work with 86% employee satisfaction
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FAQ

What is the current stock price of Erie Indemnity Co (ERIE)?

The current stock price of Erie Indemnity Co (ERIE) is $542.86 as of October 4, 2024.

What is the market cap of Erie Indemnity Co (ERIE)?

The market cap of Erie Indemnity Co (ERIE) is approximately 28.0B.

What services does Erie Indemnity Co. provide?

Erie Indemnity Co. manages sales, underwriting, and issuance of policies on behalf of the Erie Insurance Exchange.

In which states does Erie Indemnity Co. operate?

Erie Indemnity Co. operates in 12 states and the District of Columbia, from New York to North Carolina and from Wisconsin to Tennessee.

What types of insurance does Erie Indemnity Co. offer?

The company offers auto, home, business, and life insurance through a network of independent agents.

How is Erie Indemnity Co. performing financially?

Erie Indemnity Co. reported a net income of $131.0 million in the third quarter of 2023, a significant increase from $84.3 million in the third quarter of 2022.

What is Erie Strategic Ventures?

Erie Strategic Ventures is the venture capital arm of Erie Insurance, investing in startups related to the insurance value chain and adjacent sectors.

How does Erie Indemnity Co. ensure financial stability?

The company adheres to disciplined underwriting, fair pricing, and a prudent investment philosophy, earning consistently superior ratings.

What ratings does Erie Indemnity Co. have?

Erie Indemnity Co. is rated A+ (Superior) by A.M. Best and is a Fortune 500 company.

Where can I find more information about Erie Indemnity Co.'s financial results?

Financial results and news releases are available on Erie Indemnity Co.'s website at www.erieinsurance.com.

Who are Erie Indemnity Co.'s main clients?

The company serves individuals with automobile and homeowners insurance and commercial clients with multiperil, workers' compensation, and commercial automobile insurance.

What is the company's investment philosophy?

Erie Indemnity Co.'s investment philosophy focuses on prudence, aiming to support long-term financial stability and consistent growth.

Erie Indemnity Co

Nasdaq:ERIE

ERIE Rankings

ERIE Stock Data

28.04B
46.19M
45.52%
36.82%
1.34%
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