Erie Insurance Q2 2021 Earnings Report
Key Takeaways
Erie Indemnity Company reported a decrease in net income for the second quarter of 2021, with $79.0 million, or $1.51 per diluted share, compared to $82.0 million, or $1.57 per diluted share, in the second quarter of 2020.
Net income was $79.0 million, or $1.51 per diluted share, in the second quarter of 2021.
Operating income before taxes decreased $6.1 million, or 6.7 percent, in the second quarter of 2021 compared to the second quarter of 2020.
Management fee revenue from policy issuance and renewal services increased by $18.5 million, or 3.8 percent, in the second quarter of 2021 compared to the second quarter of 2020.
Income from investments before taxes totaled $16.4 million in the second quarter of 2021 compared to $11.6 million in the second quarter of 2020.