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Sep 30, 2020
Erie Insurance Q3 2020 Earnings Report
Erie Indemnity's financial performance for Q3 2020 was announced, with net income at $89.2 million and EPS at $1.71.
Key Takeaways
Erie Indemnity Company reported a net income of $89.2 million, or $1.71 per diluted share, for the third quarter of 2020. This compares to a net income of $94.2 million, or $1.80 per diluted share, for the third quarter of 2019. New business premiums grew 10.4% in the third quarter of 2020 compared to the same period in 2019.
Net income was $89.2 million, or $1.71 per diluted share.
Operating income before taxes decreased $9.7 million, or 9.1 percent.
Management fee revenue - policy issuance and renewal services increased $10.1 million, or 2.1 percent.
Management fee revenue - administrative services increased $0.5 million, or 3.3 percent.
Revenue by Segment
Forward Guidance
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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