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Dec 31, 2020
Erie Insurance Q4 2020 Earnings Report
Erie Indemnity reported mixed results for Q4 2020, with net income increasing but operating income decreasing compared to the same period in 2019.
Key Takeaways
Erie Indemnity Company reported a net income of $62.8 million, or $1.20 per diluted share, for the fourth quarter of 2020, compared to $59.6 million, or $1.14 per diluted share, for the fourth quarter of 2019. Operating income decreased by 5.3% compared to the fourth quarter of 2019. The company experienced growth in new business premiums in the second half of 2020 and benefited from the recovery of financial markets.
Net income increased to $62.8 million, or $1.20 per diluted share, compared to $59.6 million, or $1.14 per diluted share, in Q4 2019.
Operating income decreased by 5.3% compared to Q4 2019.
Management fee revenue from policy issuance and renewal services increased by 1.2% compared to Q4 2019.
Investment income before taxes totaled $14.1 million compared to $6.9 million in Q4 2019.
Forward Guidance
Statements contained herein that are not historical fact are forward-looking statements and, as such, are subject to risks and uncertainties that could cause actual events and results to differ, perhaps materially, from those discussed herein.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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