Erie Indemnity Co (ERIE) Sector
Financials

(Current) $404.29
-3.57 (-0.88%) Open Price: 404.29

 

Erie Indemnity Company is a publicly traded insurance company based in Pennsylvania, USA. It was founded in 1925 by H.O. Hirt and O.G. Crawford. The company's primary business is the management of the Erie Insurance Exchange, a property and casualty insurance provider with a focus on the Midwest and Northeast regions of the United States.

 

As a management company, Erie Indemnity is responsible for providing services to the Erie Insurance Exchange, including underwriting, marketing, and claims processing. Erie Insurance Exchange is a reciprocal insurance company, meaning it is owned by policyholders who share in the company's profits and losses. Erie Indemnity Company, as the management company, provides services to the exchange in exchange for a percentage of the exchange's premiums.

 

Erie Indemnity operates through a network of independent insurance agents who sell policies underwritten by Erie Insurance Exchange. The company offers a range of insurance products, including auto, home, life, and business insurance.

 

The company has a long history of financial stability and growth, with consistent profitability and a solid balance sheet. It has also been recognized for its corporate responsibility and ethical business practices. In 2021, Erie Indemnity was named to the Ethisphere Institute's list of the World's Most Ethical Companies for the sixth consecutive year.

 

Erie Indemnity's stock is traded on the NASDAQ under the ticker symbol ERIE. As of April 2023, the company has a market capitalization of over $16 billion and employs approximately 5,500 people.

 



 

(03/01/24) $404.29
(03/02/24) $407.86
(03/02/24) (Qty.)122,602
(03/01/24) $400.23
(03/01/24) $412.76
(07/09/23) $199.49
(02/25/24) $414.91
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