Erie Insurance Q2 2023 Earnings Report
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.
Erie Insurance
Erie Insurance
Forward Guidance
The company provided forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those discussed.