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) | --- | --- | --- | |------------- ...

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, 2021 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, 2021 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) | --- | --- | --- | --- | --- | |-- ...

Erie Indemnity Company (NASDAQ:ERIE) Q1 2021 Earnings Conference Call April 30, 2021 10:00 AM ET Company Participants Scott Beilharz – Vice President of Investor Relations Tim NeCastro – President and Chief Executive Officer Greg Gutting – Executive Vice President and Chief Financial Officer Conference Call Participants Operator [Call Starts Abruptly] …following the recording. Now I would like to introduce your, Vice President of Investor Relations, Scott Beilharz. Scott Beilharz Thank you, and welcome, eve ...

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, 2021 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) | --- | --- | --- | --- | --- | |- ...

Erie Indemnity Company (NASDAQ:ERIE) Q4 2020 Results Conference Call February 26, 2021 10:00 AM ET Company Participants Scott Beilharz - Vice President of Investor Relations Timothy NeCastro - President and Chief Executive Officer Gregory Gutting - Executive Vice President and Chief Financial Officer Operator Good morning, and welcome to the Erie Indemnity Company’s Fourth Quarter and Year-End 2020 Earnings Conference Call. This call was prerecorded, and there will be no question-and-answer session followin ...

Revenue and Income - Management fee revenue for administrative services increased by 4.0% to $59.5 million in 2020 compared to $57.2 million in 2019[171]. - Operating income decreased by 5.4% to $338.2 million in 2020, as growth in operating expenses outpaced the growth in operating revenues[168]. - Net income decreased by 7.4% to $293.3 million in 2020, with diluted net income per share also decreasing by 7.4% to $5.61[168]. - Management fee revenue for policy issuance and renewal services increased by 1.7% to $1,841,794 thousand in 2020, compared to $1,810,457 thousand in 2019[225]. - The management fee rate was maintained at 25% for 2020, 2019, and 2018, significantly impacting revenue and net income[208]. Premiums and Policy Growth - Direct and affiliated assumed premiums written by the Exchange increased by 1.7% to $7.6 billion in 2020, following a 5.2% increase to $7.5 billion in 2019[169]. - New business premiums grew by 10.8% in the second half of 2020 compared to the same period in 2019, primarily driven by growth in personal auto and homeowners lines[164]. - Premiums generated from new business decreased by 1.2% to $852 million in 2020, despite a 5.0% increase in new business policies written[213]. - Renewal business premiums increased by 2.1% to $6.8 billion in 2020, supported by steady policy retention ratios[214]. - Total personal lines premiums written increased by 1.3% to $5.4 billion in 2020, with a 2.2% increase in total personal lines policies in force[216]. - Total commercial lines premiums written increased by 2.6% to $2.2 billion in 2020, driven by a 1.6% increase in total commercial lines policies in force[217]. Investment Income and Financial Position - Total investment income decreased by $7.1 million in 2020, primarily due to higher impairments and lower net investment income reflecting lower interest rates caused by COVID-19 market volatility[172]. - Total investment income decreased by 17.8% in 2020, amounting to $32,867 thousand, primarily due to lower net investment income and higher impairment losses[237]. - Net investment income fell by $4.3 million in 2020 to $29,753 thousand, influenced by decreased income from cash and cash equivalents[238]. - The company recorded a market-related asset experience gain of $146.3 million in 2020, which will be recognized over a four-year period[201]. - Policyholders' surplus increased to $10.7 billion in 2020 from $9.5 billion in 2019, reflecting a strong financial position[243]. Expenses and Costs - Cost of operations for policy issuance and renewal services increased by 3.3% to $1.6 billion in 2020, driven by higher commissions and agent incentive compensation[170]. - Total commissions increased by $26.6 million in 2020 compared to 2019, reaching $1,051,272 thousand, driven by higher premiums and agent incentive compensation[228]. - Non-commission expenses rose by $24.3 million in 2020, totaling $537,625 thousand, with significant increases in underwriting, IT, and administrative costs[229]. - Increased personnel costs across all categories were noted, contributing to higher administrative expenses in 2020[229]. Tax and Pension Costs - Income tax expense decreased to $75.2 million in 2020 from $79.9 million in 2019, with a reduction of $4.0 million in 2019 due to settling an uncertain tax position, lowering the effective tax rate by 1.0%[173]. - The company anticipates net pension benefit costs to rise from $45.1 million in 2020 to $56.6 million in 2021, primarily due to a decrease in the discount rate[204]. - The discount rate for the projected benefit obligation was set at 2.96% for December 31, 2020, compared to 3.59% in 2019 and 4.47% in 2018[199]. - A 25 basis point decrease in the discount rate assumption would increase pension costs by $6.8 million, with the company's share being approximately $2.8 million, and would raise the pension benefit obligation by $61.6 million[199]. - The expected long-term rate of return on pension plan assets was reduced from 6.00% to 5.50% for 2021, with a 25 basis point change impacting net pension benefit cost by an estimated $2.3 million[200]. Cash Flow and Liquidity - Net cash provided by operating activities was $342.6 million in 2020, a decrease of 6% from $364.5 million in 2019, primarily due to increased agent commissions and operating expenses[258]. - Net cash used in investing activities increased to $243.2 million in 2020, up from $124.6 million in 2019, largely due to higher purchases of available-for-sale securities[259]. - Net cash used in financing activities totaled $274.9 million in 2020, compared to $169.6 million in 2019, driven by increased dividends paid to shareholders[260]. - The company maintains a $100 million line of credit that does not expire until October 2023, ensuring liquidity for future operational needs[255]. - The company has access to a $100 million bank revolving line of credit, which includes a $25 million letter of credit sublimit expiring on October 30, 2023[268]. Market Conditions and Future Outlook - The COVID-19 pandemic is estimated to decrease premiums by $110 million and management fee revenue by $28 million in 2021 due to rate reductions[222]. - The Exchange plans to expand its agency force to increase market penetration, contributing to future growth despite potential challenges from the COVID-19 pandemic[218]. - Changes in premium levels due to rate changes directly affect the profitability of the Exchange and its management fee[221]. - Deteriorating market conditions may hinder the ability to obtain additional financing or increase financing costs[109]. - Accurate estimation of capital needs is crucial to avoid adverse effects on financial condition[107].

Erie Indemnity Company (NASDAQ:ERIE) Q3 2020 Earnings Conference Call October 30, 2020 10:00 AM ET Company Participants Scott Beilharz – Vice President-Investor Relations Tim NeCastro – President and Chief Executive Officer Greg Gutting – Executive Vice President and Chief Financial Officer Conference Call Participants Operator Good morning and welcome to the Erie Indemnity Company Third Quarter 2020 Earnings Conference Call. This call was prerecorded, and there will be no question-and-answer session follow ...

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, 2020 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) | --- | --- | --- | --- | |--- ...