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Mar 31, 2021
Erie Insurance Q1 2021 Earnings Report
Erie Indemnity's net income increased by 24% for the quarter ending March 31, 2021.
Key Takeaways
Erie Indemnity Company reported a net income of $73.6 million, or $1.41 per diluted share, for the first quarter of 2021, compared to $59.3 million, or $1.13 per diluted share, for the first quarter of 2020.
Net income was $73.6 million, or $1.41 per diluted share, in the first quarter of 2021.
Operating income before taxes decreased $9.6 million, or 11.2 percent, compared to the first quarter of 2020.
Management fee revenue from policy issuance and renewal services increased by $12.0 million, or 2.7 percent, compared to the first quarter of 2020.
Income from investments before taxes totaled $18.0 million compared to a loss from investments of $9.2 million in the first quarter of 2020.
Forward Guidance
Forward-looking statements are subject to risks and uncertainties that could cause actual events and results to differ materially from those discussed in the report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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