2020欧洲杯在线投注

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Erie Indemnity Reports Full Year and Fourth Quarter 2019 Results

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2020欧洲杯在线投注Net Income per Diluted Share up 9.9 percent in 2019

Erie, Pa. - February 27, 2020 - Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the full year and quarter ending December 31, 2019.Net income was $316.8 million, or $6.06 per diluted share, in 2019, compared to $288.2 million, or $5.51 per diluted share, in 2018.Net income was $59.6 million, or $1.14 per diluted share, in the fourth quarter of 2019, compared to $62.3 million, or $1.19 per diluted share, in the fourth quarter of 2018.

4Q 2019

(in thousands)

4Q'19

4Q'18

Operating income

$68,700

$74,758

Investment Income

6,914

4,995

Interest expense and other income, net

(36)

(2,889)

Income before income taxes

75.650

82,642

Income tax expense

16,063

20,328

Net income

$59,587

$62,314

Full Year 2019

(in thousands)

'19

'18

Operating income

$357,339

$344,343

Investment income

39,967

25,796

Interest expense and other income, net

601

(1,181)

Income before income taxes

396,705

371,320

Income tax expense

79,884

83,096

Net income

$316,821

$288,224

2019 Full Year Highlights

2020欧洲杯在线投注Operating income before taxes increased $13.0 million, or 3.8 percent, in 2019 compared to 2018.

Income from investments before taxes totaled $40.0 million in 2019 compared to $25.8 million in 2018.Net realized gains on investments were $6.1 million in 2019 compared to net realized losses of $2.0 million in 2018.Net investment income was $33.4 million in 2019 compared to $30.2 million in 2018.

4Q 2019 Highlights

2020欧洲杯在线投注Operating income before taxes decreased $6.1 million, or 8.1 percent, in the fourth quarter of 2019 compared to the fourth quarter of 2018.

Income from investments before taxes totaled $6.9 million in the fourth quarter of 2019 compared to $5.0 million in the fourth quarter of 2018.Net realized gains on investments were $0.6 million in the fourth quarter of 2019 compared net realized losses of $1.5 million in the fourth quarter of 2018.Net investment income was $8.2 million in the fourth quarter of 2019 compared to $8.6 million in the fourth quarter of 2018.

Webcast Information

2020欧洲杯在线投注Indemnity has scheduled a on the Web for 10:00 AM ET on February 28, 2020.  Investors may access the pre-recorded audio broadcast by logging on to www.adamstvl.com.

Erie Insurance Group

According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 9th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 16th largest property/casualty insurer in the United States based on total lines net premium written.  The Group, rated A+ (Superior) by A.M. Best Company, has nearly 6 million policies in force and operates in 12 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 company.

2020欧洲杯在线投注News releases and more information about Erie Insurance Group are available at www.adamstvl.com.