Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange) in the United States. The Exchange is a subscriber owned, Pennsylvania-domiciled, reciprocal insurer that writes property and casualty insurance. The company’s primary function is to perform certain services for the Exchange relating to the sales, underwriting, and issuance of policies on behalf of the Exchange. The Exchange, together with its wholly owned subsidiaries, Erie Insurance Company (EIC), Erie Insurance Company of New York (ENY), Erie Insurance Property and Casualty Company, and Flagship City Insurance Company, operate as a property and casualty insurer and are collectively referred to as the ‘Property and Casualty Group’. The Property and Casualty Group operates in 12 Midwestern, Mid-Atlantic, and Southeastern states and the District of Columbia; and writes primarily private passenger automobile, homeowners, commercial multi-peril, commercial automobile, and workers compensation lines of insurance. Erie Family Life Insurance Company (EFL), a wholly owned subsidiary of the Exchange, operates as a life insurer that underwrites and sells individual and group life insurance policies and fixed annuities. The Property & Casualty Group and EFL began writing private passenger automobile, home insurance, personal excess liability insurance, and life insurance and annuity products in Kentucky in 2014. Segments The company operates its business as four segments: Management Operations, Property and Casualty Insurance Operations, Life Insurance Operations, and Investment Operations. Management Operations This segment provides services to the Exchange relating to the sales, underwriting, and issuance of policies. The Exchange is the sole customer of the company’s management operations. Property and Casualty Insurance Operations The members of the Property and Casualty Group pool underwriting results under an intercompany pooling agreement. Under the pooling agreement, the Exchange retains a 94.5% interest in the net underwriting results of the Property and Casualty Group, while EIC retains a 5.0% interest, and ENY retains a 0.5% interest. The Property and Casualty Group is represented by approximately 2,200 independent agencies comprising approximately 11,000 licensed property and casualty representatives, which is the company’s sole distribution channel. The Property and Casualty Group writes business in Illinois, Indiana, Kentucky, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and the District of Columbia. Life Insurance Operations This segment sells individual and group life insurance policies and fixed annuities. These products are offered through the company’s property and casualty insurance agency force to provide an opportunity to cross-sell both personal and commercial accounts. EFL writes business in 11 states, including Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and the District of Columbia. Investment Operations This segment offers the company’s fixed maturity, equity security, and limited partnership investment portfolios to support its underwriting business. The company and Exchange portfolios are managed with the objective of improving after-tax returns on a risk-adjusted basis, while the EFL portfolio is managed to be aligned to its liabilities and to maintain a sufficient yield to meet profitability targets. The company evaluates the portfolios for impairments. History Erie Indemnity Company was founded in 1925.
erie indemnity company-cl a
100 Erie Insurance Place
Erie, PA 16530
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