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Last $80.11 USD
Change Today -2.64 / -3.19%
Volume 58.4K
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

100 Erie Insurance Place

Erie, PA 16530

United States

Phone: 814-870-2000


Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers 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 (EPC), and Flagship City Insurance Company (Flagship), operates as a property and casualty insurer. The Property and Casualty Group operates in 11 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. Segments The company operates its business as four segments: Management Operations, Property and Casualty Insurance Operations, Life Insurance Operations, and Investment Operations. Management operations The company provides services to the Exchange relating to the sales, underwriting, and issuance of policies. The Exchange is the sole customer of management operations. Property and casualty insurance operations The members of the Property and Casualty Group pool their 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. The Property and Casualty Group is represented by approximately 2,150 independent agencies comprising 10,550 licensed property and casualty representatives, which is its sole distribution channel. In addition to their principal role as salespersons, the independent agents play a significant role as underwriting and service providers and are fundamental to the Property and Casualty Group’s success. The Property and Casualty Group writes business in Illinois, Indiana, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and the District of Columbia. Life insurance operations The company’s life insurance products are offered through its property and casualty insurance agency force to provide an opportunity to cross-sell both personal and commercial accounts. The company writes business in 10 states, including Illinois, Indiana, Maryland, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wisconsin, and the District of Columbia. Investment operations The Indemnity and Exchange portfolios are managed with the objective of maximizing after-tax returns on a risk-adjusted basis. History Erie Indemnity Company was founded in 1925.


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Industry Average

Valuation ERIE Industry Range
Price/Earnings 26.2x
Price/Sales 0.6x
Price/Book 5.5x
Price/Cash Flow 23.0x
TEV/Sales NM Not Meaningful

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