Erie Indemnity Approves Management Fee Rate and Dividend Increase, Declares Regular Dividends

Core Points - Erie Indemnity Company has maintained its management fee rate at 25 percent for Erie Insurance Exchange, effective January 1, 2025, consistent with the previous year [2] - The company has approved an increase in the regular quarterly cash dividend, raising it from $1.275 to $1.365 for Class A shares and from $191.25 to $204.75 for Class B shares, representing a 7.1 percent increase [3] - Erie Insurance Group is ranked as the 12th largest homeowners insurer, 13th largest automobile insurer, and 13th largest commercial lines insurer in the U.S. based on direct premiums written [4] Management Fee - The management fee rate for Erie Insurance Exchange remains at 25 percent, which is the maximum permissible under the agreement with policyholders [2] - This decision was made after reviewing the financial positions of both Erie Insurance Exchange and Erie Indemnity Company [2] Dividend Increase - The increase in the quarterly cash dividend reflects the company's commitment to returning value to shareholders [3] - The next dividend payment is scheduled for January 22, 2025, with a record date of January 7, 2025 [3] Company Overview - Erie Insurance Group, founded in 1925, is a Fortune 500 company and the 17th largest property/casualty insurer in the U.S. based on total lines net premium written [4] - The company has over 7 million policies in force and operates in 12 states and the District of Columbia [4]