Erie Indemnity (ERIE) Tops Q2 EPS by 2c

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Go back to Erie Indemnity (ERIE) Tops Q2 EPS by 2c

Erie Indemnity Reports Second Quarter 2016 Results

July 28, 2016 4:05 PM EDT

ERIE, Pa., July 28, 2016 /PRNewswire/ -- Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the quarter ending June 30, 2016.  Net income was $61.3 million, or $1.17 per diluted share, in the second quarter of 2016, compared to $56.2 million, or $1.07 per diluted share, in the second quarter of 2015.  Net income was $107.2 million, or $2.04 per diluted share, in the first six months of 2016, compared to $95.0 million, or $1.81 per diluted share, in the first six months of 2015.  Revenue growth in both the second quarter and first six months of 2016 outpaced the growth in... More

NeCastro takes on CEO role at Erie Insurance

July 28, 2016 4:02 PM EDT

ERIE, Pa., July 28, 2016 /PRNewswire/ -- Erie Insurance President & Chief Executive Officer Terrence W. Cavanaugh announced today that he will step down as CEO effective Monday, Aug. 1. Timothy G. NeCastro, who was previously selected as President & CEO-designate, will succeed him as Chief Executive Officer. Cavanaugh, who previously announced his intention to retire this year, will continue as President until Dec. 31, 2016.

"Over the last two months, Tim and I have been working closely together to ensure a smooth transition into the CEO... More