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Erie Indemnity Reports Second Quarter 2016 Results (View Webcast, Investor Supplement)
ERIE, Pa. - July 28, 2016 - Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the quarter ending June 30, 2016. Net income was $61.3 million, or $1.17 per diluted share, in the second quarter of 2016, compared to $56.2 million, or $1.07 per diluted share, in the second quarter of 2015. Net income was $107.2 million, or $2.04 per diluted share, in the first six months of 2016, compared to $95.0 million, or $1.81 per diluted share, in the first six months of 2015. Revenue growth in both the second quarter and first six months of 2016 outpaced the growth in expenses.
NeCastro takes on CEO role at Erie Insurance
ERIE, Pa. - July 28, 2016 - Erie Insurance President & Chief Executive Officer Terrence W. Cavanaugh announced today that he will step down as CEO effective Monday, Aug. 1. Timothy G. NeCastro, who was previously selected as President & CEO-designate, will succeed him as Chief Executive Officer. Cavanaugh, who previously announced his intention to retire this year, will continue as President until Dec.31, 2016.
Erie Indemnity Company names Chief Financial Officer
Erie, Pa. - July 27, 2016 - Erie Indemnity Company (NASDAQ: ERIE) has appointed Gregory Gutting executive vice president and chief financial officer. Gutting has served as interim CFO since October 2015. In addition, Julie Pelkowski, who has been serving as interim controller since Gutting's appointment in October, was officially named senior vice president and controller. Both begin their permanent roles on Aug. 1, 2016.