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. The company offers a range of services to meet family insurance needs, including a variety of auto, home, and renters insurance policies, and motorcycle, RV and boat insurance. Erie Insurance also provides a variety of business insurance products to meet the needs of both small and large businesses.

TypePublic
Founded1925
HQErie, PA, US
Websiteerieinsurance.com
Employee Ratings4.3
Overall CultureA+

Latest Updates

Employees (est.) (Dec 2019)5,700(+4%)
Revenue (FY, 2019)$2.5 B(+4%)
Share Price (Jan 2021)$247.9
Cybersecurity ratingBMore

Key People/Management at Erie Insurance

Timothy NeCastro

Timothy NeCastro

President & Chief Executive Officer
Gregory Gutting

Gregory Gutting

Executive Vice President & Chief Financial Officer
Bob Ingram

Bob Ingram

Executive Vice President and Chief Information Officer
Lorianne Feltz

Lorianne Feltz

Executive Vice President, Claims and Customer Service
Douglas E. Smith

Douglas E. Smith

Executive Vice President, Sales and Products
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 25 other locations
Erie, PA, US (HQ)
100 Erie Insurance Pl
Bethlehem, PA, US
2200 W Broad St #1
Brentwood, TN, US
750 Old Hickory Blvd Building 1, Suite 150
Brookfield, WI, US
20300 Water Tower Blvd #230
Canton, OH, US
4690 Munson St NW
Cary, NC, US
8000 Regency Pkwy #200
Show all (36)

Erie Insurance Financials and Metrics

Erie Insurance Revenue

Erie Insurance's revenue was reported to be $2.48 b in FY, 2019 which is a 4% increase from the previous period.
USD

Revenue (Q3, 2020)

653.5m

Net income (Q3, 2020)

89.2m

EBIT (Q3, 2020)

96.2m

Market capitalization (15-Jan-2021)

13.0b

Closing stock price (15-Jan-2021)

247.9

Cash (30-Sept-2020)

216.4m

EV

12.8b
Erie Insurance's current market capitalization is $13 b.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

1.7b2.4b2.5b

Revenue growth, %

6%41%4%

Operating expense total

215.7m2.0b2.1b

EBIT

288.4m344.3m357.3m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

572.2m621.5m612.1m594.1m647.7m638.7m616.7m657.0m653.5m

Operating expense total

494.6m526.1m515.4m508.0m551.1m532.8m531.0m565.8m557.3m

EBIT

77.6m95.3m96.7m86.1m96.6m105.9m85.7m91.2m96.2m

EBIT margin, %

14%15%16%14%15%17%14%14%15%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

215.7m266.4m336.7m

Accounts Receivable

418.3m449.9m468.6m

Prepaid Expenses

34.9m36.9m44.9m

Current Assets

801.9m1.2b891.4m
Annual
USDFY, 2017FY, 2018FY, 2019

Cash From Operating Activities

197.1m263.6m364.5m

Purchases of PP&E

(28.9m)(56.3m)(102.0m)

Cash From Investing Activities

(74.7m)(81.4m)(124.6m)

Long-term Borrowings

50.0m25.0m(1.9m)
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Cash From Operating Activities

(40.2m)41.6m174.3m24.2m114.4m237.9m20.1m127.3m234.5m

Purchases of PP&E

(8.7m)(18.1m)(48.7m)(17.4m)(34.3m)(68.4m)(21.1m)(37.4m)(52.3m)

Cash From Investing Activities

(16.7m)(5.7m)(53.0m)63.8m42.2m(32.2m)(82.7m)(115.4m)(218.6m)

Long-term Borrowings

(9.0k)25.0m25.0m(460.0k)(962.0k)(1.4m)(481.0k)(979.0k)(1.5m)
USDFY, 2017

Revenue/Employee

331.7k

Debt/Equity

0.1 x

Financial Leverage

1.9 x

P/E Ratio

32.4
Show all financial metrics

Erie Insurance Operating Metrics

FY, 2017FY, 2018FY, 2019

Individual Life Insurance in Force

$241 m

Office Space, sq. ft.

637 k637 k665 k

Offices

25 25 25

Retention Rate

90%
Show all operating metrics

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

Erie Insurance Revenue Breakdown

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Erie Insurance revenue breakdown by business segment: 73.1% from Management Fee - Policy Issuance and Renewal Services, 23.5% from Administrative Services Reimbursement and 3.4% from Other

Human Capital Metrics

Embed Graph
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Erie Insurance Cybersecurity Score

Cybersecurity ratingPremium dataset

B

88/100

SecurityScorecard logo

Erie Insurance Online and Social Media Presence

Embed Graph

Erie Insurance Company Culture

  • Overall Culture

    A+

    93/100

  • CEO Rating

    A+

    100/100

  • Compensation

    A+

    100/100

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Erie Insurance News and Updates

National survey by Erie Insurance ranks 11 car technology features drivers disable most and why

ERIE, Pa., June 29, 2020 /PRNewswire/ -- Today's cars are safer than ever thanks to advanced engineering and technology, but some drivers intentionally turn off or disable features that could help them avoid crashes. Erie Insurance, a car insurance company concerned about the safety of...

Erie Insurance names Karen Rugare as Vice President, Customer Service Operations and Strategy

ERIE, Pa., Oct. 14, 2019 /PRNewswire/ -- Erie Insurance has named Karen Rugare to the position of vice president of customer service operations and strategy, effective October 17. Rugare began her career at ERIE 20 years ago as a media and government relations specialist. She was promoted...

With October being the biggest month for weddings, national survey by Erie Insurance reveals items couples didn't register for but wish they had

ERIE, Pa., Oct. 1, 2019 /PRNewswire/ -- Couples registering for wedding gifts may want to review the results of a national survey conducted for Erie Insurance before choosing gifts for their registries. The survey asked about items couples didn't register for but now wish they had, as...

Erie Insurance and ADEPT Driver Announce Partnership to Reduce Teen Crashes Through Neurocognitive Training

ERIE, Pa., May 21, 2019 /PRNewswire/ -- ADEPT Driver® and Erie Insurance announced a new partnership to help teen drivers, covered by Erie Insurance policies in Wisconsin and Virginia, reduce their crash risk and save money on auto insurance. Through this partnership, Erie Insurance...

Need a New Roof? Erie Insurance Lists Five Things to Consider

ERIE, Pa., May 9, 2019 /PRNewswire/ -- When considering a new roof for your home, there's a lot to think about – from materials and style to cost and installation. For instance, metal roofing systems can provide an alternative to traditional asphalt shingles. Erie Insurance lists five...

Erie Insurance Ranks Highest in Auto Insurance Purchase Experience Satisfaction for 7th Consecutive Year

ERIE, Pa., May 1, 2019 /PRNewswire/ -- Erie Insurance has ranked highest in the J.D. Power 2019 U.S. Insurance Shopping Study. Erie Insurance earned the highest score among auto insurers in providing a satisfying purchase experience in 2019, with a score of 917 on a 1,000-point scale. The ...
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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 NeCastro, Gregory Gutting and Bob Ingram.

  • How many employees does Erie Insurance have?

    Erie Insurance has 5,700 employees.

  • What is Erie Insurance revenue?

    Latest Erie Insurance annual revenue is $2.5 b.

  • What is Erie Insurance revenue per employee?

    Latest Erie Insurance revenue per employee is $434.6 k.

  • Who are Erie Insurance competitors?

    Competitors of Erie Insurance include Allstate, Massachusetts Mutual Life Insurance Company (MassMutual) and MetLife.

  • 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 25 other locations.

  • How many offices does Erie Insurance have?

    Erie Insurance has 36 offices.