Erie Indemnity Co
erieinsurance.comWhat Do They Do?
Provides policy issuance and renewal, claims handling, and investment management services for the Erie Insurance Exchange and its insurance subsidiaries.
10-K for FY2025, filed Feb 23, 2026Our primary function as attorney-in-fact is to perform policy issuance and renewal services on behalf of the subscribers at the Exchange.…View ↗
The policy issuance and renewal services we provide on behalf of the subscribers at the Exchange are related to the sales, underwriting and…View ↗
Consistent with its legal structure as a reciprocal insurer, the Exchange does not have any employees or officers. Therefore, it enters…View ↗
How Do They Make Money?
The Exchange pays management fees based on premiums, collected by Indemnity when the Exchange collects policyholders' premiums; policy issuance and renewal fees are earned when policies are issued or renewed, while administrative-service fees are spread over four years. Indemnity receives monthly cost reimbursements, while installment and late charges are billed when bills are rendered.
10-K for FY2025, filed Feb 23, 2026We retain management fees from the Exchange under the subscriber's agreement for services provided. In accordance with the subscriber's…View ↗
Management fee revenue allocated to the policy issuance and renewal services is recognized at the time of policy issuance or renewal…View ↗
Management fee revenue allocated to the second performance obligation relates to us acting as the attorney-in-fact on behalf of the…View ↗
Consistent with its legal structure as a reciprocal insurer, the Exchange does not have any employees or officers. Therefore, it enters…View ↗
Service agreement revenue primarily consists of service charges we collect from subscribers (policyholders) for providing multiple payment…View ↗
Indemnity records a receivable from the Exchange for management fee revenue when the premium is written or assumed from affiliates by the…View ↗
-
10-K for FY2025, filed Feb 23, 2026
FY2025 revenue by product or service ↗
$4.1B
-
10-K for FY2025, filed Feb 23, 2026
$4.1B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Management fee revenue - policy issuance and renewal services
Sold outright
10-K for FY2025, filed Feb 23, 2026 |
77%
FY2022: 74%
|
Management fee revenue - policy issuance and renewal services, FY2025
$3.1B Sources
|
Sold outright |
|
Management fee revenue - administrative services
Recurring
|
1.8%
FY2022: 2.1%
|
Management fee revenue - administrative services, FY2025
$74.1M Sources
|
Recurring |
|
Administrative services reimbursement revenue
Recurring
10-K for FY2025, filed Feb 23, 2026 |
21%
FY2022: 24%
|
Administrative services reimbursement revenue, FY2025
$836.6M Sources
|
Recurring |
|
Service agreement revenue
Usage-based
|
0.6%
FY2022: 0.9%
|
Service agreement revenue, FY2025
$24.8M Sources
|
Usage-based |
Who Are Their Customers?
The Erie Insurance Exchange is the sole customer, with subscribers appointing Indemnity through individual agreements; the Exchange's insurance subsidiaries also use its administrative services under service agreements.
10-K for FY2025, filed Feb 23, 2026Our primary function as attorney-in-fact is to perform policy issuance and renewal services on behalf of the subscribers at the Exchange.…View ↗
Consistent with its legal structure as a reciprocal insurer, the Exchange does not have any employees or officers. Therefore, it enters…View ↗
As our primary purpose is to manage the affairs at the Exchange for the benefit of the subscribers (policyholders) through the policy…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 14 cents of every revenue dollar as net income in FY2025 and turned 14 cents into free cash flow.
10-K for FY2025, filed Feb 23, 2026
$717.2MView ↗
10-K for FY2025, filed Feb 23, 2026
$559.3MView ↗
10-K for FY2025, filed Feb 23, 2026
$571MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 30, 2026
$180.3MView ↗
- ▲ +3%
- vs $174.7M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 30, 2026
Open tableView ↗
-
May 21, 2026
Chief financial officer plans to retire at year-end
Julie M. Pelkowski will retire as executive vice president and chief financial officer at the end of 2026.
Sources
8-K, filed May 21, 2026
On May 21, 2026, Erie Indemnity Company (the “Company”) announced that Julie M. Pelkowski will retire as Executive Vice President and Chief…View ↗
-
Apr 23, 2026
Board elects a new chair
Jonathan Hirt Hagen was elected chairman; Thomas B. Hagen will serve as chairman emeritus.
Sources
8-K, filed Apr 23, 2026
Payable Date: July 21, 2026 (b) In addition to his re-election to the Board, Jonathan Hirt Hagen was elected Chairman of the Board. Thomas…View ↗
Growing. Revenue grew 54% in 4 years, from $2.6B in FY2021 to $4.1B in FY2025, about 11% a year.
Loading...
