Erie Indemnity Reports Second Quarter 2026 Results
Net Income per Diluted Share was $3.45 for the Quarter and $6.32 for the Six Months of 2026
ERIE, Pa., July 30, 2026 /PRNewswire/ -- Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the quarter and six months ending June 30, 2026. Net income was $180.3 million, or $3.45 per diluted share, in the second quarter of 2026, compared to $174.7 million, or $3.34 per diluted share, in the second quarter of 2025. Net income was $330.8 million, or $6.32 per diluted share, in the first six months of 2026, compared to $313.1 million, or $5.99 per diluted share, in the first six months of 2025.
2Q and First Half 2026
(in thousands)
2Q'26
2Q'25
1H'26
1H'25
Operating income
$ 204,123
$ 199,173
$ 370,910
$ 350,549
Investment income
22,553
19,600
44,672
39,136
Other income
1,401
1,974
2,821
5,808
Income before income taxes
228,077
220,747
418,403
395,493
Income tax expense
47,783
46,062
87,635
82,391
Net income
$ 180,294
$ 174,685
$ 330,768
$ 313,102
2Q 2026 Highlights
Operating income before taxes increased $5.0 million, or 2.5 percent, in the second quarter of 2026 compared to the second quarter of 2025.
Income from investments before taxes totaled $22.6 million in the second quarter of 2026 compared to $19.6 million in the second quarter of 2025. Net investment income was $22.6 million in the second quarter of 2026 compared to $20.0 million in the second quarter of 2025.
First Half 2026 Highlights
Operating income before taxes increased $20.4 million, or 5.8 percent, in the first six months of 2026 compared to the first six months of 2025.
Income from investments before taxes totaled $44.7 million in the first six months of 2026 compared to $39.1 million in the first six months of 2025. Net investment income was $46.1 million in the first six months of 2026 compared to $40.0 million in the first six months of 2025. Net realized and unrealized losses were $0.2 million in the first six months of 2026 compared to gains of $1.0 million in the first six months of 2025. Net impairment losses recognized in earnings were $1.3 million in the first six months of 2026 compared to $1.8 million in the first six months of 2025.
Webcast Information
Indemnity has scheduled a pre-recorded audio broadcast on the Web for 10:00 AM ET on July 31, 2026. Investors may access the pre-recorded audio broadcast by logging on to www.erieinsurance.com.
Erie Insurance Group
Erie Insurance Group, based in Erie, Pennsylvania, is the 10 th largest homeowners insurer, 11 th largest automobile insurer, and 9 th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company. Founded in 1925, Erie Insurance is a Fortune 500 company and the 16 th largest property/casualty insurer in the United States based on net premiums written. Rated A (Excellent) by AM Best, ERIE has nearly seven million policies in force and operates in 12 states and the District of Columbia.
News releases and more information are available on ERIE's website at www.erieinsurance.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
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. Forward-looking statements relate to future trends, events or results and include, without limitation, statements and assumptions on which such statements are based that are related to our plans, strategies, objectives, expectations, intentions, and adequacy of resources. Examples of forward-looking statements are discussions relating to premium and investment income, expenses, operating results, and compliance with contractual and regulatory requirements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Among the risks and uncertainties, in addition to those set forth in our filings with the Securities and Exchange Commission, that could cause actual results and future events to differ from those set forth or contemplated in the forward-looking statements include the following:
A forward-looking statement speaks only as of the date on which it is made and reflects our analysis only as of that date. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes in assumptions, or otherwise.
Erie Indemnity Company
Consolidated Statements of Operations
(dollars in thousands, except per share data)
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
(Unaudited)
(Unaudited)
Operating revenue
Management fee revenue - policy issuance and renewal services
$ 862,879
$ 823,853
$ 1,649,278
$ 1,578,902
Management fee revenue - administrative services
19,619
18,296
39,094
35,941
Administrative services reimbursement revenue
201,554
212,644
401,650
422,917
Service agreement revenue
5,744
5,304
11,685
11,736
Total operating revenue
1,089,796
1,060,097
2,101,707
2,049,496
Operating expenses
Cost of operations - policy issuance and renewal services
684,119
648,280
1,329,147
1,276,030
Cost of operations - administrative services
201,554
212,644
401,650
422,917
Total operating expenses
885,673
860,924
1,730,797
1,698,947
Operating income
204,123
199,173
370,910
350,549
Investment income
Net investment income
22,587
20,030
46,147
39,978
Net realized and unrealized investment gains (losses)
557
479
(208)
981
Net impairment losses recognized in earnings
(591)
(909)
(1,267)
(1,823)
Total investment income
22,553
19,600
44,672
39,136
Other income
1,401
1,974
2,821
5,808
Income before income taxes
228,077
220,747
418,403
395,493
Income tax expense
47,783
46,062
87,635
82,391
Net income
$ 180,294
$ 174,685
$ 330,768
$ 313,102
Net income per share
Class A common stock – basic
$ 3.87
$ 3.75
$ 7.10
$ 6.72
Class A common stock – diluted
$ 3.45
$ 3.34
$ 6.32
$ 5.99
Class B common stock – basic and diluted
$ 581
$ 563
$ 1,065
$ 1,008
Weighted average shares outstanding – Basic
Class A common stock
46,189,033
46,189,063
46,188,942
46,188,984
Class B common stock
2,542
2,542
2,542
2,542
Weighted average shares outstanding – Diluted
Class A common stock
52,298,697
52,304,407
52,299,440
52,304,397
Class B common stock
2,542
2,542
2,542
2,542
Dividends declared per share
Class A common stock
$ 1.4625
$ 1.365
$ 2.925
$ 2.73
Class B common stock
$ 219.375
$ 204.75
$ 438.75
$ 409.50
Erie Indemnity Company
Consolidated Statements of Financial Position
(in thousands)
June 30,
2026
December 31,
2025
(Unaudited)
Assets
Current assets:
Cash and cash equivalents (includes restricted cash of $39,608 and $30,189, respectively)
$ 282,902
$ 345,874
Available-for-sale securities
61,715
33,902
Available-for-sale securities lent
1,973
3,436
Receivables from Erie Insurance Exchange and affiliates, net
753,245
735,589
Prepaid expenses and other current assets, net
92,533
66,061
Accrued investment income
14,194
14,311
Total current assets
1,206,562
1,199,173
Available-for-sale securities, net
1,327,084
1,286,566
Equity securities
150,516
70,624
Available-for-sale and equity securities lent
67,939
61,063
Fixed assets, net
593,365
571,476
Agent loans, net
100,680
93,953
Defined benefit pension plan
62,096
24,137
Other assets, net
48,774
48,489
Total assets
$ 3,557,016
$ 3,355,481
Liabilities and shareholders' equity
Current liabilities:
Commissions payable
$ 457,211
$ 425,320
Agent incentive compensation
116,570
132,560
Accounts payable and accrued liabilities
205,760
200,701
Dividends payable
68,109
68,109
Contract liability
48,457
47,561
Deferred executive compensation
9,154
9,400
Securities lending payable
63,157
61,936
Total current liabilities
968,418
945,587
Defined benefit pension plan
34,703
33,410
Contract liability
23,148
23,274
Deferred executive compensation
21,018
22,050
Deferred income taxes, net
19,085
24,788
Other long-term liabilities
23,538
22,998
Total liabilities
1,089,910
1,072,107
Shareholders' equity
2,467,106
2,283,374
Total liabilities and shareholders' equity
$ 3,557,016
$ 3,355,481
SOURCE Erie Indemnity Company