Erie Indemnity Reports Third Quarter 2011 Results (View Webcast)
Erie, Pa., November 3, 2011 – Erie Indemnity Company (NASDAQ: ERIE) today announced third quarter 2011 earnings of $47 million, compared to earnings of $54 million in the third quarter of 2010. Operating income was $51 million in both the third quarters of 2011 and 2010.
Erie Indemnity Approves Increased Funds for Share Repurchase Program
Erie, Pa., October 27, 2011 – At its regular meeting held October 26, 2011, the Board of Directors of Erie Indemnity Company (NASDAQ: ERIE) reauthorized the Company's share repurchase program and approved $150 million in repurchase authority under the program. The repurchase authority is effective immediately and includes, and is not in addition to, any unspent amounts remaining under the prior authorization. As of October 20, 2011, there was approximately $5 million remaining under the prior authorization.
Erie Indemnity Company (NASDAQ: ERIE) is a Fortune 500 company providing sales, underwriting and administrative services to Erie Insurance Exchange, a reciprocal insurance exchange. The company is also engaged in property/casualty insurance through its three subsidiaries and in life insurance through Erie Family Life Insurance Company.
Together with the Exchange, Erie Indemnity Company and its subsidiaries and affiliates operate collectively under the name Erie Insurance Group. 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.
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You can submit questions and comments online or contact Karen Kraus Phillips, VP & director, Investor Relations, at (800) 458-0811, option 1, ext. 4665, or (814) 870-4665.