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Jun 30, 2023
Erie Insurance Q2 2023 Earnings Report
Erie Indemnity's financial results were announced for Q2 2023, with net income per diluted share at $2.25.
Key Takeaways
Erie Indemnity Company reported a net income of $117.9 million, or $2.25 per diluted share, for the second quarter of 2023, compared to $80.1 million, or $1.53 per diluted share, for the same period in 2022. Operating income before taxes increased by $30.2 million, or 29.0 percent. Management fee revenue from policy issuance and renewal services increased by $88.8 million, or 16.3 percent.
Net income was $117.9 million, or $2.25 per diluted share.
Operating income before taxes increased 29.0 percent compared to Q2 2022.
Management fee revenue from policy issuance and renewal services increased 16.3 percent.
Net investment income was $13.5 million, compared to $8.3 million in Q2 2022.
Forward Guidance
The company provided forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those discussed.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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