Erie Insurance Q3 2021 Earnings Report
Key Takeaways
Erie Indemnity Company reported a net income of $90.2 million, or $1.72 per diluted share, for the third quarter of 2021, slightly up from $89.2 million, or $1.71 per diluted share, in the third quarter of 2020. Operating income before taxes decreased slightly by $1.1 million, or 1.2 percent, compared to the same quarter last year. Management fee revenue from policy issuance and renewal services increased, while revenue from administrative services decreased.
Net income was $90.2 million, or $1.72 per diluted share, in the third quarter of 2021.
Operating income before taxes decreased 1.2% compared to the third quarter of 2020.
Management fee revenue from policy issuance and renewal services increased by 4.2%.
Investment income before taxes totaled $20.6 million, up from $16.4 million in the third quarter of 2020.
Erie Insurance
Erie Insurance
Forward Guidance
The uncertainty resulting from the COVID-19 pandemic continues to evolve and the pandemic's ultimate impact and duration remain uncertain at this time.