Erie Insurance Q4 2022 Earnings Report
Key Takeaways
Erie Indemnity Company reported a net income of $65.5 million, or $1.25 per diluted share, for the fourth quarter of 2022, compared to $55.0 million, or $1.05 per diluted share, for the fourth quarter of 2021. Operating income before taxes increased by $19.6 million, or 31.7 percent, compared to the fourth quarter of 2021.
Net income for the quarter was $65.5 million, or $1.25 per diluted share.
Operating income before taxes increased by $19.6 million, or 31.7 percent, compared to Q4 2021.
Management fee revenue from policy issuance and renewal services increased by $53.3 million, or 11.8 percent, compared to Q4 2021.
Management fee revenue from administrative services increased by $0.6 million, or 4.0 percent, compared to Q4 2021.
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Erie Insurance Revenue by Segment
Forward Guidance
The uncertainty resulting from post-pandemic conditions and the current economic environment continues to evolve and the duration or extent of financial impacts remain uncertain.