Erie Indemnity Approves Management Fee Rate and Dividend Increase
Erie, Pa. – Dec. 4, 2013 – At its regular meeting held December 3, 2013, the Board of Directors of Erie Indemnity Company (NASDAQ: ERIE) set the management fee rate charged to Erie Insurance Exchange and approved increases in shareholders' dividends.
Erie Indemnity Reports Third Quarter 2013 Results (View Webcast)
Erie, Pa. – Oct. 31, 2013 – Erie Indemnity Company (NASDAQ: ERIE) today announced third quarter 2013 earnings of $46 million, compared to earnings of $51 million in the third quarter of 2012. Operating income was $45 million in the third quarter of 2013, compared to $50 million in the third quarter of 2012.
Erie Indemnity Company (“Indemnity”) (NASDAQ: ERIE) is a Fortune 500 company providing sales, underwriting and administrative services to Erie Insurance Exchange (the “Exchange”), a reciprocal insurance exchange. Through December 31, 2010, Indemnity operated as a property and casualty insurer through its three wholly-owned insurance subsidiaries. On December 31, 2010, Indemnity sold all of the outstanding capital stock of its three wholly-owned subsidiaries to the Exchange.
Erie Family Life Insurance Company (“EFL”) is an affiliated life insurance company that underwrites and sells nonparticipating individual and group life insurance policies and fixed annuities. On March 31, 2011, Indemnity sold its minority ownership interest in EFL to the Exchange. Since then, EFL has been a wholly-owned subsidiary of the Exchange.
All property and casualty and life insurance operations are now owned by the Exchange, and Indemnity continues to function as the management company. Indemnity, the Exchange, and the subsidiaries and affiliates of the Exchange, operate collectively as the “Erie Insurance Group” (The ERIE®).With a network of independent Agents in 11 states and the District of Columbia, The ERIE seeks to insure standard and preferred risks, primarily in private passenger auto, homeowners and small commercial lines, including workers' compensation.
Read more about the history, progress and management of Erie Indemnity Company:
You can submit questions and comments online or contact Scott Beilharz, Vice President, Investor Relations, at (800) 458-0811, option 1, ext. 7312, or (814) 870-7312.