Major Rating Factors:
Weak profitability index (2.4 on a scale of 0 to 10) with operating losses during 2022, 2023 and the first nine months of 2024. Average return on equity over the last five years has been poor at -5.3%. Good liquidity (6.0) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Excellent overall results on stability tests (7.2). Strengths include potentially strong support from affiliation with Erie Indemnity Co, good operational trends and excellent risk diversification.
Stability Factors:
F - Negative cash flow.
Principal Lines of Business:
Homeowners (48.9%), personal/comm auto (26.0%), comm multi (22.7%), work comp (1.1%), fin guar/surety (0.1%), other (1.2%)
Licensed in:
DC, DE, GA, IL, IN, KY, MD, MN, MO, NC, NY, OH, PA, TN, VA, VT, WI, WV
Principal Investments:
Investment grade bonds (91.2%), common stock (3.3%), non investment grade bonds (2.4%), other (3.1%)
Corporate Info
Group Affiliation
Erie Indemnity Co
Investment Rating
Company Address
100 Erie Insurance Place
Erie, PA 16530
Erie, PA 16530
Phone Number
(814) 870-2000
NAIC Number
26263
Website
Largest Affiliates