Erie Insurance

OverviewSuggest Edit

Erie Insurance (also known as Erie Indemnity) is a multi-line insurance company offering auto, home, commercial, and life insurance through a network of independent insurance agents. It delivers a range of services to meet family insurance needs, including a variety of auto, home, and renters insurance policies, as well as motorcycle, RV and boat insurance. Erie Insurance also provides business insurance products to meet the needs of both small and large businesses.
TypePublic
Founded1925
HQErie, PA, US
Websiteerieinsurance.com
Employee Ratings4.2
Overall CultureA+

Latest Updates

Employees (est.) (Dec 2021)5,805
Job Openings113
Revenue (FY, 2021)$2.6 B(+4%)
Share Price (May 2022)$163.2(+2%)
Cybersecurity ratingCMore
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Key People/Management at Erie Insurance

Timothy G. NeCastro

Timothy G. NeCastro

President & Chief Executive Officer
Gregory J. Gutting

Gregory J. Gutting

Executive Vice President & Chief Financial Officer
Douglas E. Smith

Douglas E. Smith

Executive Vice President, Sales and Products
Brian W. Bolash

Brian W. Bolash

Executive Vice President, Secretary & General Counsel
Lorianne Feltz

Lorianne Feltz

Executive Vice President, Claims and Customer Service
Eugene C. Connell

Eugene C. Connell

Director
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Erie Insurance Office Locations

Erie Insurance has offices in Erie, Bethlehem, Brentwood, Brookfield and in 22 other locations
Erie, PA, US (HQ)
100 Erie Insurance Pl
Bethlehem, PA, US
2200 W Broad St Suite #1
Brentwood, TN, US
750 Old Hickory Blvd Building 1, Suite 150
Brookfield, WI, US
20300 Water Tower Blvd Suite 230
Canton, OH, US
4690 Munson St NW
Cary, NC, US
8000 Regency Pkwy Suite 200
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Erie Insurance Financials and Metrics

Erie Insurance Revenue

Erie Insurance's revenue was reported to be $2.63 b in FY, 2021
USD

Revenue (Q1, 2022)

672.1m

Net income (Q1, 2022)

68.6m

EBIT (Q1, 2022)

84.3m

Market capitalization (25-May-2022)

8.5b

Closing stock price (25-May-2022)

163.2

Cash (31-Mar-2022)

141.3m
Erie Insurance's current market capitalization is $8.5 b.
Annual
USDFY, 2019FY, 2020FY, 2021

Revenue

2.5b2.5b2.6b

Revenue growth, %

5%2%

Operating expense total

2.1b2.2b2.3b

EBIT

357.3m338.2m318.1m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Revenue

616.7m657.0m653.5m630.2m680.0m687.8m672.1m

Operating expense total

531.0m565.8m557.3m554.1m595.0m592.7m587.8m

EBIT

85.7m91.2m96.2m76.1m85.1m95.1m84.3m

EBIT margin, %

14%14%15%12%13%14%
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

266.4m336.7m161.2m

Accounts Receivable

449.9m468.6m494.6m

Current Assets

1.2b891.4m732.3m

PP&E

130.8m221.4m265.3m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q2, 2021Q3, 2021Q1, 2022

Cash

312.0m338.3m344.9m228.6m257.7m216.4m156.0m236.0m141.3m

Accounts Receivable

456.1m483.3m498.0m482.2m506.7m501.2m504.0m503.4m478.8m

Prepaid Expenses

78.9m

Current Assets

962.4m937.2m934.9m810.1m859.2m792.9m746.8m831.2m751.3m
Annual
USDFY, 2018FY, 2019FY, 2020

Net Income

288.2m316.8m293.3m

Cash From Operating Activities

263.6m364.5m342.6m

Purchases of PP&E

(56.3m)(102.0m)(55.5m)

Cash From Investing Activities

(81.4m)(124.6m)(243.2m)
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Net Income

75.3m87.8m94.2m59.3m82.0m89.2m

Cash From Operating Activities

24.2m114.4m237.9m20.1m127.3m234.5m

Purchases of PP&E

(17.4m)(34.3m)(68.4m)(21.1m)(37.4m)(52.3m)

Cash From Investing Activities

63.8m42.2m(32.2m)(82.7m)(115.4m)(218.6m)
USDFY, 2018

Debt/Equity

0.1 x

Debt/Assets

0.1 x

Financial Leverage

1.8 x
Show all financial metrics

Erie Insurance Operating Metrics

FY, 2018FY, 2019FY, 2020

Agents

13 k

Office Space, sq. ft.

637 k665 k996 k

Offices

252525

Retention Rate

90%

Erie Insurance Acquisitions / Subsidiaries

Company NameDateDeal Size
Erie Family Life Insurance Company
Erie Insurance Company
Erie Insurance Company of New York
Erie Insurance Property & Casualty Company
Flagship City Insurance Company

Human Capital Metrics

Embed Graph

Erie Insurance Cybersecurity Score

Cybersecurity ratingPremium dataset

C

76/100

SecurityScorecard logo

Erie Insurance Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Erie Insurance Online and Social Media Presence

Embed Graph

Erie Insurance Company Culture

  • Overall Culture

    A+

    83/100

  • CEO Rating

    A+

    86/100

  • Compensation

    A+

    87/100

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Erie Insurance News and Updates

Erie Insurance names Tim Shine to new SVP, information technology role

Shine will focus on sales and product technology, leading ERIE's technology transformation across personal lines, commercial lines and ERIE Family Life ERIE, Pa., May 20, 2022 /PRNewswire/ -- Erie Insurance (NASDAQ: ERIE) today announced the promotion of Tim Shine to senior vice president...

Erie Insurance recognized as a 'Best Employer for Excellence in Health and Well-Being' by Business Group on Health

Annual awards recognize companies for advancing employee well-being through comprehensive and innovative benefits and initiatives ERIE, Pa., May 16, 2022 /PRNewswire/ -- Erie Insurance (ERIE) is one of 44 large employers recognized by the Business Group on Health as a 2022 Best Employer...

Erie Insurance announces senior leadership appointments and promotions

Leaders named for key Personal Products and Experience roles; promotions announced within Law and Internal Audit ERIE, Pa., May 5, 2022 /PRNewswire/ -- Erie Insurance (NASDAQ: ERIE) today announced a series of new senior leadership appointments and promotions within the company's Personal...

National survey from Erie Insurance shows U.S. drivers divided over speed cameras

ERIE, Pa., Jan. 24, 2022 /PRNewswire/ -- A recent survey commissioned by Erie Insurance finds that half of U.S. drivers support the use of speed cameras while more than a third oppose them – but many opponents would change their minds under certain conditions. Speed cameras and red light...

10 Candle Safety Tips for a Safe Holiday from Erie Insurance

ERIE, Pa., Dec. 17, 2021 /PRNewswire/ -- From pumpkin spice to winter pine, there are a plethora of candle scents to choose from—not to mention the endless styles. Whatever your go-to candle is, now is the season to burn it. But did you know December is the peak month for candle fires,...

As Summer Road Trip Season Kicks Off, National Survey from Erie Insurance Reveals Drivers' Top 5 Concerns About Other Drivers

ERIE, Pa., May 24, 2021 /PRNewswire/ -- With Americans planning to hit the road over Memorial Day weekend and throughout the summer, a national survey commissioned by Erie Insurance provides new insights about what drivers can expect to see on the road. The survey asked about everything...
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Erie Insurance Frequently Asked Questions

  • When was Erie Insurance founded?

    Erie Insurance was founded in 1925.

  • Who are Erie Insurance key executives?

    Erie Insurance's key executives are Timothy G. NeCastro, Gregory J. Gutting and Douglas E. Smith.

  • How many employees does Erie Insurance have?

    Erie Insurance has 5,805 employees.

  • What is Erie Insurance revenue?

    Latest Erie Insurance annual revenue is $2.6 b.

  • What is Erie Insurance revenue per employee?

    Latest Erie Insurance revenue per employee is $453.7 k.

  • Who are Erie Insurance competitors?

    Competitors of Erie Insurance include Catalana Occidente, Pekin Insurance and Ryan Specialty Group.

  • Where is Erie Insurance headquarters?

    Erie Insurance headquarters is located at 100 Erie Insurance Pl, Erie.

  • Where are Erie Insurance offices?

    Erie Insurance has offices in Erie, Bethlehem, Brentwood, Brookfield and in 22 other locations.

  • How many offices does Erie Insurance have?

    Erie Insurance has 29 offices.