Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the quarter ending March 31, 2026. Net income was $150.5 million, or $2.88 per diluted share, in the first quarter of 2026, compared to $138.4 million, or $2.65 per diluted share, in the first quarter of 2025.
Erie Indemnity Reports First Quarter 2026 Results
1Q 2026
(in thousands) | 1Q'26 | 1Q'25 |
|---|---|---|
(in thousands) Operating income | 1Q'26 $166,787 | 1Q'25 $151,376 |
(in thousands) Investment income | 1Q'26 22,119 | 1Q'25 19,536 |
(in thousands) Other income | 1Q'26 1,420 | 1Q'25 3,834 |
(in thousands) Income before income taxes | 1Q'26 190,326 | 1Q'25 174,746 |
(in thousands) Income tax expense | 1Q'26 39,852 | 1Q'25 36,329 |
(in thousands) Net income | 1Q'26 $150,474, | 1Q'25 $138,417 |
1Q 2026 Highlights
Operating income before taxes increased $15.4 million, or 10.2 percent, in the first quarter of 2026 compared to the first quarter of 2025.
- Management fee revenue - policy issuance and renewal services increased $31.4 million, or 4.2 percent, in the first quarter of 2026 compared to the first quarter of 2025.
- Management fee revenue - administrative services increased $1.8 million, or 10.4 percent, in the first quarter of 2026 compared to the first quarter of 2025.
- Cost of operations - policy issuance and renewal services
- Commissions increased $28.0 million in the first quarter of 2026, compared to the same period in 2025, primarily driven by an increase in agent incentive compensation and the growth in direct and affiliated assumed written premium.
- Non-commission expense decreased $10.7 million in the first quarter of 2026 compared to the first quarter of 2025.Personnel costs increased $2.1 million, primarily driven by higher pension costs and increased compensation. Sales and advertising decreased $2.0 million primarily due to a decrease in advertising costs and community development initiative costs. Acquisition and underwriting support costs decreased $1.9 million primarily due to lower underwriting report costs. Professional fees decreased $7.0 million primarily due to reduced use of third-party services related to technology initiatives. Administrative and other costs decreased $1.6 million primarily due to lower charitable contributions related to the transition of charitable giving through the Erie Insurance Foundation, partially offset by an increase in credit card processing fees.
Income from investments before taxes totaled $22.1 million in the first quarter of 2026 compared to $19.5 million in the first quarter of 2025. Net investment income was $23.6 million in the first quarter of 2026 compared to $19.9 million in the first quarter of 2025. Net realized and unrealized losses were $0.8 million in the first quarter of 2026 compared to gains of $0.5 million in the first quarter of 2025.
Webcast Information
Indemnity has scheduled a pre-recorded audio broadcast on the Web for 10:00 AM ET on April 24, 2026. Investors may access the pre-recorded audio broadcast by logging on to www.erieinsurance.com.
Erie Insurance Group
Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, 12th largest automobile insurer and 10th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company. Founded in 1925, Erie Insurance is a Fortune 500 company and the 16th largest property/casualty insurer in the United States based on net premiums written. Rated A (Excellent) by AM Best, ERIE has nearly seven million policies in force and operates in 12 states and the District of Columbia.
News releases and more information are available on ERIE's website at www.erieinsurance.com.