Erie Indemnity Co (NASDAQ:ERIE) Q3 2023 Earnings Conference Call October 27, 2023 10:00 AM ET Company Participants Timothy NeCastro - President & CEO Julie Pelkowski - EVP & CFO Scott Beilharz - VP, Capital Management & IR Conference Call Participants Operator Good morning, and welcome to the Erie Indemnity Company's Third Quarter 2023 Earnings Conference Call. This call was prerecorded, and there will be no question-and-answer session row I'd like to introduce your host for the call, Vice President of Inve ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section provides unaudited financial statements, management's analysis of operations and financial condition, market risk disclosures, and internal controls [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) The unaudited financial statements for the period ended September 30, 2023, show significant growth in revenue and net income compared to the prior year, with total assets increasing to **$2.39 billion** and shareholders' equity rising to **$1.61 billion** [Statements of Operations](index=4&type=section&id=Statements%20of%20Operations) For Q3 2023, Erie Indemnity reported a **55.4% increase in net income** to **$131.0 million**, driven by a **15.9% rise in total operating revenue** and a **39.4% increase in operating income** Statements of Operations Highlights (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total operating revenue** | $858,938 | $741,236 | $2,451,273 | $2,139,489 | | **Operating income** | $148,471 | $106,472 | $393,172 | $294,784 | | **Net income** | $131,040 | $84,313 | $335,133 | $233,079 | | **Class A common stock – diluted EPS** | $2.51 | $1.61 | $6.41 | $4.46 | [Statements of Comprehensive Income](index=6&type=section&id=Statements%20of%20Comprehensive%20Income) Comprehensive income for Q3 2023 increased to **$122.4 million**, including **$131.0 million in net income** partially offset by an **$8.6 million other comprehensive loss** from unrealized securities losses Comprehensive Income (in thousands) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net income** | $131,040 | $84,313 | $335,133 | $233,079 | | **Total other comprehensive loss, net of tax** | $(8,644) | $(15,447) | $(5,380) | $(63,884) | | **Comprehensive income** | $122,396 | $68,866 | $329,753 | $169,195 | [Statements of Financial Position](index=7&type=section&id=Statements%20of%20Financial%20Position) As of September 30, 2023, total assets reached **$2.39 billion**, driven by higher receivables, while total liabilities slightly decreased and shareholders' equity increased to **$1.61 billion** due to retained earnings growth Financial Position Highlights (in thousands) | Metric | Sep 30, 2023 (Unaudited) | Dec 31, 2022 | | :--- | :--- | :--- | | **Total assets** | $2,394,549 | $2,239,456 | | **Total liabilities** | $782,660 | $791,048 | | **Total shareholders' equity** | $1,611,889 | $1,448,408 | [Statements of Shareholders' Equity](index=8&type=section&id=Statements%20of%20Shareholders%27%20Equity) Shareholders' equity increased to **$1.61 billion** by September 30, 2023, primarily due to **$335.1 million in net income**, partially offset by **$166.3 million in dividends** and a **$5.4 million other comprehensive loss** - Total shareholders' equity grew to **$1,611.9 million** by September 30, 2023, starting from **$1,448.4 million** at December 31, 2022[16](index=16&type=chunk) - Key changes in shareholders' equity for the nine months ended September 30, 2023 include net income of **$335.1 million**, offset by dividends of **$166.3 million** and an other comprehensive loss of **$5.4 million**[16](index=16&type=chunk) [Statements of Cash Flows](index=10&type=section&id=Statements%20of%20Cash%20Flows) Net cash provided by operating activities was **$232.8 million** for the nine months ended September 30, 2023, while cash used in investing activities increased and financing activities decreased significantly due to prior-year debt repayment Cash Flow Summary (in thousands) | Activity | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $232,769 | $238,108 | | **Net cash used in investing activities** | $(105,730) | $(74,997) | | **Net cash used in financing activities** | $(166,256) | $(249,149) | | **Net decrease in cash and cash equivalents** | $(39,217) | $(86,038) | [Notes to Financial Statements](index=11&type=section&id=Notes%20to%20Financial%20Statements) The notes detail the company's role as attorney-in-fact for Erie Insurance Exchange, its revenue recognition from management fees, and accounting for investments at fair value, including a **$95 million pension contribution** and **$620.7 million in credit risk concentration** - Erie Indemnity's primary function is to act as the attorney-in-fact for the policyholders of the Erie Insurance Exchange, performing policy issuance, renewal, and administrative services[26](index=26&type=chunk)[27](index=27&type=chunk) - Revenue is derived from a management fee, capped at **25% of the Exchange's written premiums**, which is allocated between two performance obligations: policy issuance/renewal and administrative services[35](index=35&type=chunk) - The company made a **$95 million contribution** to its defined benefit pension plan during the third quarter of 2023[72](index=72&type=chunk) - A significant concentration of credit risk exists, with net receivables from the Exchange and its affiliates totaling **$620.7 million** at September 30, 2023[80](index=80&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong performance to higher management fee revenue, driven by a **16.2% year-to-date increase** in premiums written by the Erie Insurance Exchange, leading to increased operating income and a solid financial condition [Operating Overview](index=30&type=section&id=Operating%20Overview) The company's earnings are primarily driven by management fee revenue from the Erie Insurance Exchange, with operating income increasing **33.4% to $393.2 million** and net income rising **43.8% to $335.1 million** for the nine months ended September 30, 2023 - The company's results are directly tied to the growth and financial condition of the Exchange, as management fees are based on the Exchange's written premiums[95](index=95&type=chunk) Financial Overview (in thousands) | Metric | YTD 2023 | YTD 2022 | % Change | | :--- | :--- | :--- | :--- | | **Operating income** | $393,172 | $294,784 | 33.4% | | **Net income** | $335,133 | $233,079 | 43.8% | - The direct and affiliated assumed premiums written by the Exchange increased **16.2% to $7.6 billion** for the nine months ended September 30, 2023[96](index=96&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Management fee revenue for policy issuance and renewal services increased **17.7% in Q3 2023**, driven by **17.6% growth** in the Exchange's written premiums, while total investment income turned positive due to lower losses and higher yields - The management fee rate was set at the maximum of **25%** for both 2023 and 2022[103](index=103&type=chunk) - Direct and affiliated assumed premiums written by the Exchange increased **17.6% in Q3 2023**, driven by growth in personal lines and commercial multi-peril premiums[107](index=107&type=chunk) - Total commissions expense increased **14.4% in Q3 2023**, driven by premium growth but partially offset by a decrease in agent incentive compensation due to higher claims severity experienced by the Exchange[118](index=118&type=chunk) - Net investment income increased in Q3 2023 primarily due to a decrease in limited partnership losses and higher bond income from increased yields[126](index=126&type=chunk) [Financial Condition](index=39&type=section&id=Financial%20Condition) The company's financial condition is stable, with a **$1.08 billion investment portfolio** primarily composed of high-quality fixed maturities, and its sole customer, the Erie Insurance Exchange, maintains a strong financial position with an **A+ "Superior" rating** and **$9.1 billion in policyholders' surplus** Investment Portfolio Composition (in thousands) | Investment Type | Sep 30, 2023 | % to total | | :--- | :--- | :--- | | Fixed maturities | $915,237 | 85% | | Equity securities | $79,516 | 7% | | Agent loans | $68,192 | 6% | | Other investments | $17,196 | 2% | | **Total investments** | **$1,080,141** | **100%** | - The Erie Insurance Exchange maintains an **A+ "Superior" financial strength rating** from A.M. Best, which was affirmed with a stable outlook on August 10, 2023[130](index=130&type=chunk) - The Exchange's policyholders' surplus was **$9.1 billion** at September 30, 2023[131](index=131&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position, primarily funded by management fee revenue and investment income, generating **$232.8 million in cash from operations** for the first nine months of 2023, and has access to a **$100 million revolving line of credit** - Primary sources of liquidity are funds from management fee revenue and investment income, used to fund commissions, salaries, dividends, and capital expenditures[142](index=142&type=chunk) - A pension contribution of **$95.0 million** was made in 2023, compared to **$25.0 million** in 2022[144](index=144&type=chunk) - The company has access to a **$100 million bank revolving line of credit** expiring in October 2026, with no borrowings outstanding as of September 30, 2023[149](index=149&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk exposures relate to fluctuations in interest rates and security prices, with no material changes during the first nine months of 2023, though potential volatility from inflation and rising interest rates is monitored - There have been no material changes that impacted the investment portfolio or reshaped asset allocation reviews during the nine months ended September 30, 2023[153](index=153&type=chunk) - The company continues to monitor risks from the economic environment, including inflation and rising interest rates, and will take measures to minimize potential risk exposure[153](index=153&type=chunk) [Item 4. Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures are effective, with no material changes in internal control over financial reporting during the quarter - The CEO and CFO concluded that disclosure controls and procedures are effective as of the end of the period covered by the report[154](index=154&type=chunk) - No material changes to internal control over financial reporting occurred during the nine months ended September 30, 2023[155](index=155&type=chunk) [PART II. OTHER INFORMATION](index=43&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity security sales, and a list of exhibits filed with the report [Item 1. Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company is a defendant in a lawsuit alleging breach of fiduciary duty related to management fees, with the case remanded to the Court of Common Pleas of Allegheny County, Pennsylvania, and the company intends to vigorously defend against all allegations - A complaint alleges breach of fiduciary duty by Indemnity in setting the management fee it receives from the Erie Insurance Exchange[158](index=158&type=chunk)[162](index=162&type=chunk) - The case has been remanded to the Court of Common Pleas of Allegheny County, Pennsylvania, after appeals regarding federal jurisdiction were denied[165](index=165&type=chunk)[166](index=166&type=chunk) - Indemnity intends to vigorously defend against all allegations and requests for relief in the complaint[167](index=167&type=chunk) [Item 1A. Risk Factors](index=44&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes from the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022 - No material changes from the risk factors disclosed in the 2022 Form 10-K have been reported[170](index=170&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company has an ongoing stock repurchase program, repurchasing **1,445 shares** of Class A common stock at an average price of **$220.79 per share** during Q3 2023, with approximately **$17.8 million** of repurchase authority remaining Issuer Purchases of Equity Securities (Q3 2023) | Period | Total number of shares purchased | Average price paid per share | | :--- | :--- | :--- | | July 1-31, 2023 | — | $ — | | August 1-31, 2023 | 1,445 | $220.79 | | September 1-30, 2023 | — | $ — | - Approximately **$17.8 million** of repurchase authority remained under the stock repurchase program as of September 30, 2023[172](index=172&type=chunk) [Item 6. Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including a supplemental retirement plan document, certifications by the CEO and CFO, and Inline XBRL data files - Exhibits filed include management compensatory plan documents, CEO/CFO certifications (Sections 302 and 906), and XBRL data files[174](index=174&type=chunk)

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Erie Indemnity Company's unaudited financial statements, showing increased net income and asset growth for the periods ended June 30, 2023 [Statements of Operations](index=4&type=section&id=Statements%20of%20Operations) Erie Indemnity reported **$839.9 million** in Q2 2023 operating revenue and **$117.9 million** net income, a **47% increase** driven by higher management fee revenue Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total operating revenue** | $839,870 | $726,143 | $1,592,335 | $1,398,253 | | **Operating income** | $134,158 | $104,000 | $244,701 | $188,312 | | **Net income** | $117,852 | $80,147 | $204,093 | $148,766 | | **Diluted EPS (Class A)** | $2.25 | $1.53 | $3.90 | $2.84 | [Statements of Comprehensive Income](index=6&type=section&id=Statements%20of%20Comprehensive%20Income) Comprehensive income significantly increased to **$113.4 million** in Q2 2023, driven by higher net income and reduced other comprehensive losses Comprehensive Income (in thousands) | Metric | Q2 2023 | Q2 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $117,852 | $80,147 | $204,093 | $148,766 | | **Other comprehensive (loss) income, net of tax** | $(4,488) | $(23,248) | $3,264 | $(48,437) | | **Comprehensive Income** | $113,364 | $56,899 | $207,357 | $100,329 | [Statements of Financial Position](index=7&type=section&id=Statements%20of%20Financial%20Position) Total assets increased to **$2.33 billion** as of June 30, 2023, with shareholders' equity rising to **$1.54 billion** Financial Position Highlights (in thousands) | Metric | June 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Total Assets** | $2,325,511 | $2,239,456 | | **Total Liabilities** | $780,599 | $791,048 | | **Total Shareholders' Equity** | $1,544,912 | $1,448,408 | [Statements of Cash Flows](index=9&type=section&id=Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to **$180.0 million** in H1 2023, leading to a slight overall increase in cash and cash equivalents Cash Flow Summary - Six Months Ended June 30 (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $180,007 | $106,274 | | **Net cash used in investing activities** | $(68,264) | $(42,196) | | **Net cash used in financing activities** | $(110,837) | $(157,456) | | **Net increase (decrease) in cash** | $906 | $(93,378) | [Notes to Financial Statements](index=10&type=section&id=Notes%20to%20Financial%20Statements) The notes detail the company's operations as attorney-in-fact for Erie Insurance Exchange, outlining revenue streams, accounting policies, and significant credit risk concentration - The company's primary function is serving as the attorney-in-fact for the subscribers at the Erie Insurance Exchange, performing policy issuance, renewal, and administrative services. Its revenue is directly tied to the premiums written by the Exchange[24](index=24&type=chunk)[25](index=25&type=chunk) - Management fee revenue is calculated as a percentage (not to exceed **25%**) of the direct and affiliated assumed written premiums of the Exchange. This fee is allocated between two performance obligations: policy issuance/renewal and administrative services[33](index=33&type=chunk) - The company has a significant concentration of credit risk, as the majority of its revenue and receivables are from the Erie Insurance Exchange and its affiliates. Net receivables from the Exchange were **$591.0 million** as of June 30, 2023[28](index=28&type=chunk)[77](index=77&type=chunk) - The company expects to contribute an estimated **$95 million** to its pension plans during the third quarter of 2023[69](index=69&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong H1 2023 performance to robust management fee revenue growth, driven by a **15.5%** increase in Erie Insurance Exchange premiums, alongside improved investment performance and strong liquidity [Operating Overview](index=27&type=section&id=Operating%20Overview) The company's operating income significantly increased in Q2 2023 and H1 2023, driven by a **15.5%** rise in Erie Insurance Exchange's written premiums - The company's results are directly tied to the growth and financial condition of the Erie Insurance Exchange, as management fees are based on the Exchange's direct and affiliated assumed written premiums[92](index=92&type=chunk) Financial Overview (in thousands) | Metric | Q2 2023 | Q2 2022 | % Change | YTD 2023 | YTD 2022 | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Operating income** | $134,158 | $104,000 | 29.0% | $244,701 | $188,312 | 29.9% | | **Net income** | $117,852 | $80,147 | 47.0% | $204,093 | $148,766 | 37.2% | - Direct and affiliated assumed premiums written by the Exchange increased **16.3%** in Q2 2023 and **15.5%** in the first six months of 2023, driving management fee revenue growth[93](index=93&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Management fee revenue grew **15.4%** in H1 2023 due to a **15.5%** increase in Exchange premiums, while investment income significantly improved to **$11.6 million** in Q2 2023 Direct and Affiliated Assumed Premiums Written by the Exchange (in thousands) | Period | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | **Three months ended June 30** | $2,613,131 | $2,247,766 | 16.3% | | **Six months ended June 30** | $4,916,999 | $4,257,963 | 15.5% | - The increase in the Exchange's premiums was driven by a **5.2%** increase in policies in force and a **7.6%** increase in average premium per policy year-over-year as of June 30, 2023[104](index=104&type=chunk) - Total commission costs increased by **$71.3 million** (**12.1%**) for the first six months of 2023, primarily due to premium growth, partially offset by lower agent incentive compensation[115](index=115&type=chunk) Total Investment Income (Loss) (in thousands) | Period | 2023 | 2022 | | :--- | :--- | :--- | | **Three months ended June 30** | $11,627 | $(2,094) | | **Six months ended June 30** | $6,895 | $915 | [Financial Condition](index=37&type=section&id=Financial%20Condition) The investment portfolio grew to **$1.09 billion** as of June 30, 2023, primarily in high-quality fixed maturities, while the Erie Insurance Exchange maintains an A+ 'Superior' rating Investment Portfolio Composition (in thousands) | Investment Type | June 30, 2023 | % to total | Dec 31, 2022 | % to total | | :--- | :--- | :--- | :--- | :--- | | **Fixed maturities** | $920,952 | 85% | $894,661 | 84% | | **Equity securities** | $77,220 | 7% | $72,560 | 7% | | **Agent loans** | $68,903 | 6% | $69,476 | 7% | | **Other investments** | $18,528 | 2% | $30,511 | 2% | | **Total investments** | $1,085,603 | 100% | $1,067,208 | 100% | - The Erie Insurance Exchange and its property and casualty subsidiaries are rated A+ 'Superior' by A.M. Best, with a stable outlook as of August 9, 2022[127](index=127&type=chunk) - The Exchange's policyholders' surplus was **$9.7 billion** at June 30, 2023, down from **$10.1 billion** at December 31, 2022[128](index=128&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity, with net cash from operations increasing to **$180.0 million** in H1 2023 and **$99.1 million** available on its revolving credit line - Primary sources of liquidity are funds from management fee revenue and investment income, used to fund operations, commissions, dividends, and capital expenditures[139](index=139&type=chunk) - Net cash provided by operating activities increased to **$180.0 million** in H1 2023 from **$106.3 million** in H1 2022, mainly due to higher management fees received[141](index=141&type=chunk) - The company has access to a **$100 million** bank revolving line of credit expiring in October 2026, with **$99.1 million** available as of June 30, 2023[146](index=146&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes to its market risk profile or investment strategies during H1 2023, despite inflationary pressures and rising interest rates - There have been no material changes that impacted the company's portfolio or reshaped its periodic investment reviews of asset allocations during the six months ended June 30, 2023[149](index=149&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures are effective as of June 30, 2023[150](index=150&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[151](index=151&type=chunk) [PART II. OTHER INFORMATION](index=41&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company is vigorously defending an ongoing lawsuit alleging breach of fiduciary duty regarding the management fee received from the Erie Insurance Exchange - The company is a defendant in a lawsuit alleging breach of fiduciary duty regarding the management fee it receives from the Erie Insurance Exchange[153](index=153&type=chunk)[154](index=154&type=chunk) - The plaintiffs seek damages, disgorgement of profits, and other relief, with the case remanded to the Court of Common Pleas of Allegheny County, Pennsylvania[155](index=155&type=chunk)[161](index=161&type=chunk) - Erie Indemnity intends to vigorously defend against all allegations and requests for relief in the complaint[163](index=163&type=chunk) [Item 1A. Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the 2022 Annual Report on Form 10-K - There have been no material changes from the risk factors previously disclosed in the company's 2022 Form 10-K[166](index=166&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased **1,905** Class A common shares at **$225.87** per share in Q2 2023, with **$17.8 million** remaining under the repurchase program Issuer Purchases of Equity Securities (Q2 2023) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | **April 1-30, 2023** | — | $ — | | **May 1-31, 2023** | 1,905 | $225.87 | | **June 1-30, 2023** | — | $ — | | **Total** | 1,905 | $225.87 | - The repurchased shares were used to fund the rabbi trust for the outside director deferred stock compensation plan and the incentive compensation deferral plan[168](index=168&type=chunk) - Approximately **$17.8 million** of repurchase authority remained under the current stock repurchase program as of June 30, 2023[167](index=167&type=chunk)[168](index=168&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including various agreements, employee benefit plans, and CEO/CFO certifications - Exhibits filed include employee savings and retirement plans, CEO/CFO certifications under Sarbanes-Oxley Sections 302 and 906, and Inline XBRL data files[170](index=170&type=chunk)

Erie Indemnity Company (NASDAQ:ERIE) Q1 2023 Results Conference Call April 28, 2023 10:00 AM ET Company Participants Scott Beilharz - VP of Capital Management & IR Timothy NeCastro - President & CEO Gregory Gutting - Executive VP & CFO Operator Good morning, and welcome to the Erie Indemnity Company First Quarter 2023 Earnings Conference Call. This call was pre-recorded, and there will be no question-and-answer session following the recording. Now I'd like to introduce your host of the call today, Vice Pre ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___to___ Commission file number 0-24000 ERIE INDEMNITY COMPANY (Exact name of registrant as specified in its charter) | Class A common stock, stated val ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-24000 ERIE INDEMNITY COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 25-0466020 (State or other jurisdiction of (IRS Employer incorpor ...

Erie Indemnity Co (NASDAQ:ERIE) Q3 2022 Earnings Conference Call October 28, 2022 10:00 AM ET Company Participants Scott Beilharz - VP, Capital Management & IR Timothy NeCastro - President & CEO Gregory Gutting - EVP & CFO Conference Call Participants Operator Good morning, and welcome to Erie Indemnity Company Third Quarter 2022 Earnings Conference Call. This call was prerecorded, and there will be no questions-and-answer session following the recording. Now I'd like to introduce your host of the call tod ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___to___ Commission file number 0-24000 ERIE INDEMNITY COMPANY (Exact name of registrant as specified in its charter) | --- | --- | --- | |--------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___to___ Commission file number 0-24000 ERIE INDEMNITY COMPANY (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | --- | |-- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___to___ Commission file number 0-24000 ERIE INDEMNITY COMPANY (Exact name of registrant as specified in its charter) | --- | --- | --- | |------------- ...