Core Insights - Erie Indemnity Company reported a net income of $174.7 million, or $3.34 per diluted share, for the second quarter of 2025, reflecting an increase from $163.9 million, or $3.13 per diluted share, in the same quarter of 2024 [1][2] - For the first half of 2025, net income was $313.1 million, or $5.99 per diluted share, compared to $288.5 million, or $5.52 per diluted share, in the first half of 2024 [1][2] Financial Performance - Operating income before taxes increased by $9.0 million, or 4.7 percent, in the second quarter of 2025 compared to the second quarter of 2024 [3] - For the first six months of 2025, operating income before taxes rose by $21.5 million, or 6.5 percent, compared to the first six months of 2024 [6] Revenue and Income Breakdown - Management fee revenue from policy issuance and renewal services increased by $63.0 million, or 8.3 percent, in the second quarter of 2025 compared to the same period in 2024 [7] - Total operating revenue for the second quarter of 2025 was $1,060.1 million, up from $990.4 million in the second quarter of 2024 [16] - Investment income before taxes totaled $19.6 million in the second quarter of 2025, compared to $13.8 million in the second quarter of 2024 [4] Expense Analysis - Cost of operations related to policy issuance and renewal services increased by $43.5 million in the second quarter of 2025, driven by growth in written premium and increased agent incentive compensation [7] - Non-commission expenses rose by $10.6 million in the second quarter of 2025, with significant increases in information technology costs and sales and advertising expenses [7] Investment Performance - Net investment income was $20.0 million in the second quarter of 2025, compared to $16.0 million in the second quarter of 2024 [4] - For the first half of 2025, net investment income was $40.0 million, up from $31.9 million in the first half of 2024 [9] Balance Sheet Highlights - Total assets as of June 30, 2025, were $3,128.2 million, an increase from $2,888.6 million as of December 31, 2024 [17][18] - Shareholders' equity increased to $2,184.5 million as of June 30, 2025, compared to $1,987.3 million at the end of 2024 [18]