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Erie Indemnity Company
Erie Indemnity Company (ERIE) investor relations material
Erie Indemnity Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary24 Feb, 2026
Executive summary
Celebrated 100th year in business while navigating a challenging underwriting environment marked by elevated weather activity and higher claim severity.
Maintained focus on restoring sustainable profitability, financial strength, and long-term growth.
Significant progress made in profitability and capital position despite competitive market pressures.
Net income for 2025 was $559.3 million ($10.69 per diluted share), down from $600.3 million ($11.48 per share) in 2024.
Results were impacted by a $100 million charitable contribution, reducing net income by $80.6 million ($1.54 per share) for both Q4 and full year 2025.
Financial highlights
Direct written premiums grew 5% in Q4 year-over-year and nearly 9% for the full year compared to 2024.
Average premium per policy increased 9.6% for the year.
Q4 combined ratio improved to 94.1% from 105.7% in Q4 2024; full year combined ratio improved to 104.9% from 110.4%.
Net income was $63.4 million ($1.21 per share) in Q4, down from $152.0 million ($2.91) in Q4 2024.
Operating income before taxes rose 6.0% year-over-year to $717.2 million in 2025.
Management fee revenue from policy issuance and renewal services increased 8.2% ($237.7 million) year-over-year.
Investment income before taxes was $84.9 million in 2025, up from $69.3 million in 2024.
Administrative services reimbursement revenue and corresponding costs increased both total operating revenue and expenses by $836.6 million in 2025, with no net impact on operating income.
Catastrophe losses contributed 10.6 points to the combined ratio for the year, up from 9.6 points in 2024.
Policyholder surplus increased from $9.3 billion to $10.1 billion during 2025.
Paid over $254 million in dividends in 2025; board approved a 7.1% increase in quarterly dividend for 2026.
Outlook and guidance
Focus for 2026 remains on strengthening profitability, disciplined growth, and investing in product offerings and capabilities.
Erie Secure Auto rollout to additional states planned for H1 2026, following successful pilots.
Continued expansion of Business Auto Two product across more states.
Forward-looking statements highlight risks from economic conditions, insurance competition, regulatory changes, and catastrophic events.
No specific quantitative guidance provided for future periods.
Charitable foundation's future impact on giving?
What drove Q4 vs FY incentive compensation?
Agent incentive compensation drivers and outlook?
How will policy decline be addressed in 2026?
Erie Secure Auto's impact on growth?
Address Q4 expense growth outpacing revenue.
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Next Erie Indemnity Company earnings date
Q1 202624 Apr, 2026
Erie Indemnity Company
Next Erie Indemnity Company earnings date
Q1 202624 Apr, 2026
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Frequently asked questions
Erie Indemnity Company provides management services to the Erie Insurance Exchange, a reciprocal insurance exchange. The company handles administrative and operational functions including underwriting, claims processing, sales support, and customer service. It primarily serves policyholders and agents in the property and casualty insurance market across multiple U.S. states. The company is headquartered in Erie, Pennsylvania, and its shares are listed on the NASDAQ.
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