ERIE
Financial ServicesErie Indemnity Company · Insurance - Brokers · $10B
What is Erie Indemnity Company?
Erie Indemnity Company serves as the managing attorney-in-fact for the Erie Insurance Exchange, one of the larger regional insurance networks in the United States. Incorporated in 1925 and headquartered in Erie, Pennsylvania, the company occupies a distinctive role in the insurance services landscape.
Rather than underwriting insurance risk directly, Erie Indemnity earns management fees by providing a full suite of operational services to the Erie Insurance Exchange — a reciprocal insurer owned by its policyholders. These services span sales support, agent compensation, underwriting and policy processing, customer service, and information technology. This fee-based model means the company's revenue is tied to the volume of premiums managed on behalf of the Exchange, not to the underwriting outcomes themselves.
Erie Indemnity was incorporated in 1925 and is headquartered in Erie, Pennsylvania.
- Sales and agent compensation support services
- Underwriting and policy issuance processing
- Customer service and administrative support
- Information technology services for the Exchange
- Advertising and marketing support services
Is ERIE a Good Stock to Buy?
UQS Score rates ERIE as Below Average overall, reflecting a mixed picture across its five quality pillars.
The Quality pillar stands out as the clearest positive — Erie Indemnity's fee-based management model generates relatively predictable revenue, and the company has a long history of returning capital to shareholders. The Risk and Valuation pillars both register as Neutral, suggesting the stock does not carry outsized financial or pricing risk relative to peers.
Growth is the most significant drag on the overall score, rated Weak — the company's fee income is closely tied to Exchange premium volumes, which limits the pace of expansion. The Moat pillar comes in at Neutral, reflecting the structural advantages of the Exchange relationship but also the constraints that come with it.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does ERIE pay dividends?
Yes — Erie Indemnity Company pays a dividend.
Erie Indemnity pays a regular dividend, a practice consistent with its long operating history and fee-driven cash generation. The company has maintained and grown its dividend over many years, making it a name that income-oriented investors have historically followed. Its predictable management-fee revenue supports the capacity to sustain dividend payments through varying market conditions.
When does ERIE report earnings?
Erie Indemnity reports earnings on a quarterly cadence, consistent with standard practice for US-listed companies.
Revenue trends are closely linked to growth in premiums written at the Erie Insurance Exchange, meaning top-line results can reflect broader property and casualty insurance market conditions. Fee rate adjustments and expense management are the primary levers the company controls directly.
For the most recent quarter's results and guidance, visit Erie Indemnity's investor relations page.
ERIE Price History
+38.4% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Erie Indemnity Company?
Based on Erie Indemnity Company's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
ERIE Long-term Outlook
The fundamental outlook for Erie Indemnity is shaped primarily by its Weak Growth pillar and Neutral Risk profile. Premium volume growth at the Erie Insurance Exchange is the central driver of fee income, and any softening in personal or commercial lines could weigh on revenue. On the other hand, the Neutral Risk rating suggests the balance sheet and operational structure are not under acute stress. Valuation is also Neutral, meaning the stock is not obviously cheap or expensive relative to its fundamentals.
Growth drivers
- Expansion of Erie Insurance Exchange premium volumes in existing markets
- Potential fee rate adjustments tied to management agreements
- Operational efficiency gains in technology and administrative services
Key risks
- Limited geographic diversification — operations concentrated in the US
- Fee income directly dependent on Exchange premium growth, which is slowing
- Rising claims costs at the Exchange could pressure policyholder retention
ERIE vs Peers
Erie Indemnity operates in the insurance services and distribution space alongside a range of peers with different business models.
Brown & Brown is an independent insurance broker that earns commissions across a broad national and international client base, giving it wider geographic and product diversification than Erie Indemnity's Exchange-focused model.
Willis Towers Watson combines global insurance brokerage with human capital and risk consulting, operating at a significantly larger international scale than Erie Indemnity's regional US footprint.
Accelerant focuses on specialty insurance risk-sharing and technology-enabled underwriting, representing a newer, more growth-oriented model compared to Erie Indemnity's established fee-management structure.
Frequently Asked Questions
What does Erie Indemnity do?
Erie Indemnity acts as the managing attorney-in-fact for the Erie Insurance Exchange, a reciprocal insurer. It provides sales, underwriting, policy processing, customer service, and IT services to the Exchange in exchange for a management fee. The company does not take on insurance underwriting risk itself — its revenue comes from fees tied to Exchange premium volumes.
Does ERIE pay dividends?
Yes, Erie Indemnity pays a regular dividend and has a long track record of maintaining and growing its dividend payments. The company's fee-based revenue model supports relatively consistent cash generation, which underpins its dividend history. Income-focused investors have historically viewed ERIE as a dividend-paying financial services name.
When does ERIE report earnings?
Erie Indemnity reports on a quarterly cadence, as is standard for US-listed companies. For the exact dates of upcoming earnings releases, check the investor relations section of Erie Indemnity's official website, where the company posts its financial calendar.
Is ERIE a good stock to buy?
UQS Score rates ERIE as Below Average overall. The Quality pillar is the strongest element, while Growth is rated Weak — reflecting limited expansion potential tied to Exchange premium volumes. Risk and Valuation are both Neutral. Whether ERIE fits your portfolio depends on your goals; the full pillar breakdown is available to Pro members.
Is ERIE overvalued?
The UQS Valuation pillar for ERIE is rated Neutral, suggesting the stock is neither clearly expensive nor obviously cheap relative to its fundamentals. Valuation is one of five pillars in the UQS composite — Pro members can view the detailed metrics behind this rating.
How does ERIE compare to its competitors?
Erie Indemnity's Exchange-management model is quite different from broader insurance brokers like Brown & Brown or global firms like Willis Towers Watson. ERIE's revenue is more concentrated and regionally focused, which limits growth but also reduces some forms of operational complexity. See the competitor section above for a side-by-side UQS comparison.
What is ERIE's market cap bracket?
Erie Indemnity is classified as a large-cap stock. This places it among established, well-capitalized companies in the financial services sector, though it remains smaller than the largest national insurance conglomerates.
Who founded Erie Indemnity Company?
Erie Indemnity was founded by H.O. Hirt and other early leaders of the Erie Insurance organization. The company was incorporated in 1925 in Erie, Pennsylvania, where it remains headquartered today. Full founding history is available through Erie Indemnity's official corporate history resources.
Is ERIE a long-term quality investment?
From a long-term quality standpoint, Erie Indemnity's UQS Quality pillar is rated Good, supported by its predictable fee-based revenue and consistent dividend history. However, the Weak Growth rating is a meaningful consideration for investors seeking long-term capital appreciation. The full five-pillar profile gives a more complete picture for long-term assessment.
What is the main competitive advantage of Erie Indemnity?
Erie Indemnity's primary structural advantage is its exclusive management relationship with the Erie Insurance Exchange, which creates a captive and recurring fee revenue stream. However, the UQS Moat pillar rates this advantage as Neutral — the relationship provides stability but also limits the company's ability to diversify or grow outside the Exchange's footprint.
What sector does ERIE belong to?
Erie Indemnity is classified in the Financial Services sector, specifically within insurance services and distribution. Its business model — earning management fees rather than underwriting risk — distinguishes it from traditional insurance carriers and places it closer to insurance intermediaries and service providers.
Is ERIE a growth stock or value stock?
Based on UQS pillar labels, ERIE leans toward neither category cleanly. The Growth pillar is rated Weak, which is not characteristic of a growth stock. The Valuation pillar is Neutral, meaning it does not screen as a deep-value opportunity either. It may appeal most to investors prioritizing income and stability over growth.
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Pro Analysis
ERIE — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 53.2 | 66.5 | 55.0 | 26.4 | 46.5 | 70.4 | +2.5 |
| May 9, 2026 | 50.7 | 67.0 | 55.0 | 18.7 | 46.5 | 63.3 | +4.1 |
| May 7, 2026 | 46.6 | 64.4 | 55.0 | 15.1 | 47.9 | 43.8 | 0.0 |
| May 3, 2026 | 46.6 | 64.4 | 55.0 | 15.1 | 47.9 | 43.6 | +0.3 |
| Apr 26, 2026 | 46.3 | 64.4 | 55.0 | 15.1 | 47.9 | 41.6 | +0.2 |
| Apr 25, 2026 | 46.1 | 64.4 | 55.0 | 15.1 | 47.9 | 40.6 | 0.0 |
| Apr 23, 2026 | 46.1 | 63.9 | 55.0 | 15.1 | 47.6 | 41.4 | +0.1 |
| Apr 21, 2026 | 46.0 | 63.6 | 55.0 | 15.1 | 47.6 | 41.1 | -0.2 |
| Apr 19, 2026 | 46.2 | 64.2 | 55.0 | 15.1 | 47.6 | 41.5 | +0.3 |
| Apr 18, 2026 | 45.9 | 64.2 | 55.0 | 15.1 | 47.6 | 39.9 | -0.1 |
ERIE — Pillar Breakdown
Quality
— 66.4/100 (25%)Erie Indemnity Company shows solid profitability with healthy returns on capital and reasonable margins.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 26.4/100 (20%)Erie Indemnity Company faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 46.5/100 (15%)Erie Indemnity Company has some risk factors including moderate leverage or solvency concerns.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 70.2/100 (15%)Erie Indemnity Company trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 55/100 (25%)Erie Indemnity Company has meaningful competitive advantages that should protect its market position. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for ERIE.
Score Composition
Financial Data
More Stock Analysis
How is the ERIE UQS Score Calculated?
The UQS (Unified Quality Score) for Erie Indemnity Company is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Erie Indemnity Company's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Erie Indemnity Company is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.