XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.25.3

Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Investments [Abstract] |
Schedule of Reconciliation of Cost to Fair Value, Net of Credit Loss Allowance, of Fixed Maturity Securities | The following tables summarize the amortized cost and estimated fair value, net of credit loss allowance, of our fixed maturity securities as of:
|  | September 30, 2025
(in thousands) |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value
Available-for-sale securities: |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 663,602 |  |  | $ | 12,714 |  |  | $ | 3,230 |  |  | $ | 673,086 |
Collateralized debt obligations |  | 90,481 |  |  | 238 |  |  | 168 |  |  | 90,551 |
Commercial mortgage-backed securities |  | 121,053 |  |  | 2,868 |  |  | 1,710 |  |  | 122,211 |
Residential mortgage-backed securities |  | 151,730 |  |  | 736 |  |  | 11,300 |  |  | 141,166 |
Other debt securities |  | 31,091 |  |  | 622 |  |  | 264 |  |  | 31,449 |
U.S. Treasury |  | 7,259 |  |  | 120 |  |  | 9 |  |  | 7,370 |
Total available-for-sale securities, net (1) |  | 1,065,216 |  |  | 17,298 |  |  | 16,681 |  |  | 1,065,833 |
Held-to-maturity securities - states & political subdivisions |  | 4,833 |  |  | 43 |  |  | 0 |  |  | 4,876 |
Total fixed maturity securities, net |  | $ | 1,070,049 |  |  | $ | 17,341 |  |  | $ | 16,681 |  |  | $ | 1,070,709 |
(1)This includes an estimated fair value of $35.9 million of securities lent under a securities lending agreement.
|  | December 31, 2024
(in thousands) |  | Amortized cost |  | Gross unrealized gains |  | Gross unrealized losses |  | Estimated fair value
Available-for-sale securities: |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 647,861 |  |  | $ | 4,767 |  |  | $ | 8,685 |  |  | $ | 643,943 |
Collateralized debt obligations |  | 114,142 |  |  | 372 |  |  | 387 |  |  | 114,127 |
Commercial mortgage-backed securities |  | 126,509 |  |  | 1,458 |  |  | 2,985 |  |  | 124,982 |
Residential mortgage-backed securities |  | 150,212 |  |  | 62 |  |  | 16,462 |  |  | 133,812 |
Other debt securities |  | 27,232 |  |  | 147 |  |  | 628 |  |  | 26,751 |
Total available-for-sale securities, net (1) |  | 1,065,956 |  |  | 6,806 |  |  | 29,147 |  |  | 1,043,615 |
Held-to-maturity securities - states & political subdivisions |  | 4,833 |  |  | 101 |  |  | 0 |  |  | 4,934 |
Total fixed maturity securities, net |  | $ | 1,070,789 |  |  | $ | 6,907 |  |  | $ | 29,147 |  |  | $ | 1,048,549 |
(1)This includes an estimated fair value of $7.3 million of securities lent under a securities lending agreement.
Schedule of Amortized Cost and Estimated Fair Value, Net of Credit Loss Allowance, of Fixed Maturity Securities by Remaining Contractual Term to Maturity | The amortized cost and estimated fair value of available-for-sale and held-to-maturity securities at September 30, 2025 are shown below by remaining contractual term to maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | September 30, 2025
|  | Amortized |  | Estimated
(in thousands) |  | cost |  | fair value
Available-for-sale securities: |  |  |  |
Due in one year or less |  | $ | 63,952 |  |  | $ | 63,710 |
Due after one year through five years |  | 460,087 |  |  | 465,927 |
Due after five years through ten years |  | 136,215 |  |  | 138,111 |
Due after ten years |  | 404,962 |  |  | 398,085 |
Total available-for-sale securities, net (1) (2) |  | 1,065,216 |  |  | 1,065,833 |
Held-to-maturity securities - due after ten years |  | 4,833 |  |  | 4,876 |
Total fixed maturity securities, net |  | $ | 1,070,049 |  |  | $ | 1,070,709 |
(1)The contractual maturities of our available-for-sale securities are included in the table. However, given our intent to sell certain impaired securities, these securities are classified as current assets in our Consolidated Statement of Financial Position at September 30, 2025. (2)This includes an estimated fair value of $35.9 million of securities lent under a securities lending agreement.
Schedule of Available-For-Sale Securities in a Gross Unrealized Loss Position by Length of Time | The following tables present available-for-sale securities based on length of time in a gross unrealized loss position as of:
|  | September 30, 2025
|  | Less than 12 months |  | 12 months or longer |  | Total
(dollars in thousands) |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | No. of holdings
Corporate debt securities |  | $ | 23,443 |  |  | $ | 817 |  |  | $ | 107,364 |  |  | $ | 2,413 |  |  | $ | 130,807 |  |  | $ | 3,230 |  |  | 358 |
Collateralized debt obligations |  | 25,562 |  |  | 69 |  |  | 5,396 |  |  | 99 |  |  | 30,958 |  |  | 168 |  |  | 54 |
Commercial mortgage-backed securities |  | 4,833 |  |  | 55 |  |  | 19,434 |  |  | 1,655 |  |  | 24,267 |  |  | 1,710 |  |  | 66 |
Residential mortgage-backed securities |  | 17,132 |  |  | 248 |  |  | 88,556 |  |  | 11,052 |  |  | 105,688 |  |  | 11,300 |  |  | 144 |
Other debt securities |  | 1,681 |  |  | 25 |  |  | 3,770 |  |  | 239 |  |  | 5,451 |  |  | 264 |  |  | 24 |
U.S. Treasury |  | 1,469 |  |  | 9 |  |  | 0 |  |  | 0 |  |  | 1,469 |  |  | 9 |  |  | 1 |
Total available-for-sale securities |  | $ | 74,120 |  |  | $ | 1,223 |  |  | $ | 224,520 |  |  | $ | 15,458 |  |  | $ | 298,640 |  |  | $ | 16,681 |  |  | 647 |
Quality breakdown of available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade |  | $ | 53,947 |  |  | $ | 408 |  |  | $ | 204,399 |  |  | $ | 14,379 |  |  | $ | 258,346 |  |  | $ | 14,787 |  |  | 344 |
Non-investment grade |  | 20,173 |  |  | 815 |  |  | 20,121 |  |  | 1,079 |  |  | 40,294 |  |  | 1,894 |  |  | 303 |
Total available-for-sale securities |  | $ | 74,120 |  |  | $ | 1,223 |  |  | $ | 224,520 |  |  | $ | 15,458 |  |  | $ | 298,640 |  |  | $ | 16,681 |  |  | 647 |
|  | December 31, 2024
|  | Less than 12 months |  | 12 months or longer |  | Total
(dollars in thousands) |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | Fair value |  | Unrealized losses |  | No. of holdings
Corporate debt securities |  | $ | 197,619 |  |  | $ | 2,486 |  |  | $ | 156,059 |  |  | $ | 6,199 |  |  | $ | 353,678 |  |  | $ | 8,685 |  |  | 567 |
Collateralized debt obligations |  | 33,686 |  |  | 71 |  |  | 11,762 |  |  | 316 |  |  | 45,448 |  |  | 387 |  |  | 77 |
Commercial mortgage-backed securities |  | 28,333 |  |  | 407 |  |  | 24,966 |  |  | 2,578 |  |  | 53,299 |  |  | 2,985 |  |  | 131 |
Residential mortgage-backed securities |  | 38,003 |  |  | 1,289 |  |  | 90,209 |  |  | 15,173 |  |  | 128,212 |  |  | 16,462 |  |  | 169 |
Other debt securities |  | 11,663 |  |  | 150 |  |  | 5,045 |  |  | 478 |  |  | 16,708 |  |  | 628 |  |  | 42 |
Total available-for-sale securities |  | $ | 309,304 |  |  | $ | 4,403 |  |  | $ | 288,041 |  |  | $ | 24,744 |  |  | $ | 597,345 |  |  | $ | 29,147 |  |  | 986 |
Quality breakdown of available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade |  | $ | 280,332 |  |  | $ | 3,701 |  |  | $ | 260,480 |  |  | $ | 22,664 |  |  | $ | 540,812 |  |  | $ | 26,365 |  |  | 616 |
Non-investment grade |  | 28,972 |  |  | 702 |  |  | 27,561 |  |  | 2,080 |  |  | 56,533 |  |  | 2,782 |  |  | 370 |
Total available-for-sale securities |  | $ | 309,304 |  |  | $ | 4,403 |  |  | $ | 288,041 |  |  | $ | 24,744 |  |  | $ | 597,345 |  |  | $ | 29,147 |  |  | 986 |
Schedule of Allowances for Credit Losses on Investments | The following tables present a roll-forward of the allowances for credit losses on investments:
|  | Three months ended September 30, 2025
(in thousands) |  | Available-for-sale securities |  | Held-to-maturity securities |  | Other loans receivable |  | Agent loans
Balance, beginning of period |  | $ | 881 |  |  | $ | 2,167 |  |  | $ | 13,038 |  |  | $ | 1,476 |
Provision and recoveries |  | 417 |  |  | 0 |  |  | 218 |  |  | 111 |
Sales/collections and write-offs |  | (64) |  |  | 0 |  |  | (25) |  |  | 0 |
Balance, end of period |  | $ | 1,234 |  |  | $ | 2,167 |  |  | $ | 13,231 |  |  | $ | 1,587 |
|  | Nine months ended September 30, 2025
(in thousands) |  | Available-for-sale securities |  | Held-to-maturity securities |  | Other loans receivable |  | Agent loans
Balance, beginning of period |  | $ | 513 |  |  | $ | 2,167 |  |  | $ | 12,198 |  |  | $ | 1,312 |
Provision and recoveries |  | 1,086 |  |  | 0 |  |  | 1,058 |  |  | 275 |
Sales/collections and write-offs |  | (365) |  |  | 0 |  |  | (25) |  |  | 0 |
Balance, end of period |  | $ | 1,234 |  |  | $ | 2,167 |  |  | $ | 13,231 |  |  | $ | 1,587 |
|  | Three months ended September 30, 2024
(in thousands) |  | Available-for-sale securities |  | Held-to-maturity securities |  | Other loans receivable |  | Agent loans
Balance, beginning of period |  | $ | 503 |  |  | $ | 2,167 |  |  | $ | 11,438 |  |  | $ | 957 |
Provision and recoveries |  | 158 |  |  | 0 |  |  | 474 |  |  | 354 |
Sales/collections and write-offs |  | (231) |  |  | 0 |  |  | 0 |  |  | 0 |
Balance, end of period |  | $ | 430 |  |  | $ | 2,167 |  |  | $ | 11,912 |  |  | $ | 1,311 |
|  | Nine months ended September 30, 2024
(in thousands) |  | Available-for-sale securities |  | Held-to-maturity securities |  | Other loans receivable |  | Agent loans
Balance, beginning of period |  | $ | 597 |  |  | $ | 0 |  |  | $ | 11,081 |  |  | $ | 957 |
Provision and recoveries |  | 401 |  |  | 2,167 |  |  | 831 |  |  | 354 |
Sales/collections and write-offs |  | (568) |  |  | 0 |  |  | 0 |  |  | 0 |
Balance, end of period |  | $ | 430 |  |  | $ | 2,167 |  |  | $ | 11,912 |  |  | $ | 1,311 |
Schedule of Investment Income, Net of Expenses | Investment income, net of expenses, was generated from the following portfolios:
|  | Three months ended September 30, |  | Nine months ended September 30, |
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Available-for-sale securities |  | $ | 14,068 |  |  | $ | 12,891 |  |  | $ | 41,881 |  |  | $ | 36,611 |  |
Equity securities |  | 1,220 |  |  | 1,119 |  |  | 3,533 |  |  | 3,536 |  |
Limited partnerships (1) |  | 114 |  |  | (127) |  |  | 1,269 |  |  | 134 |  |
Agent loans (2) |  | 1,633 |  |  | 1,070 |  |  | 4,634 |  |  | 2,891 |  |
Cash equivalents and other (2) |  | 4,606 |  |  | 2,940 |  |  | 11,502 |  |  | 7,456 |  |
Total investment income |  | 21,641 |  |  | 17,893 |  |  | 62,819 |  |  | 50,628 |  |
Less: investment expenses |  | 608 |  |  | 571 |  |  | 1,808 |  |  | 1,393 |  |
Net investment income |  | $ | 21,033 |  |  | $ | 17,322 |  |  | $ | 61,011 |  |  | $ | 49,235 |  |
(1)Limited partnership income (losses) include both realized gains (losses) and unrealized valuation changes. Our limited partnership investments are included in the line item "Other assets, net" in the Consolidated Statements of Financial Position. We have made no new significant limited partnership commitments since 2006, and the balance of limited partnership investments is expected to decline over time as additional distributions are received. (2)2024 amounts have been reclassified to conform to the current period presentation.
Schedule of Net Realized and Unrealized Investment Gains (Losses) | Realized and unrealized gains (losses) on investments were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Gross realized gains |  | $ | 908 |  |  | $ | 1,457 |  |  | $ | 1,588 |  |  | $ | 2,144 |  |
Gross realized losses |  | (337) |  |  | (1,315) |  |  | (1,710) |  |  | (4,639) |  |
Net realized gains (losses) on available-for-sale securities |  | 571 |  |  | 142 |  |  | (122) |  |  | (2,495) |  |
Equity securities |  | 760 |  |  | 2,782 |  |  | 2,429 |  |  | 5,477 |  |
Miscellaneous |  | 0 |  |  | 1 |  |  | 5 |  |  | 1 |  |
Net realized and unrealized investment gains |  | $ | 1,331 |  |  | $ | 2,925 |  |  | $ | 2,312 |  |  | $ | 2,983 |  |
The portion of net unrealized gains recognized during the reporting period related to equity securities held at the reporting date is calculated as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Equity securities: |  |  |  |  |  |  |  |  |
Net gains recognized during the period |  | $ | 760 |  |  | $ | 2,782 |  |  | $ | 2,429 |  |  | $ | 5,477 |  |
Less: net gains recognized on securities sold |  | 66 |  |  | 146 |  |  | 340 |  |  | 883 |  |
Net unrealized gains recognized on securities held at reporting date |  | $ | 694 |  |  | $ | 2,636 |  |  | $ | 2,089 |  |  | $ | 4,594 |  |
Schedule of Impairments on Investments | Impairments on investments were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Intent to sell |  | $ | (78) |  |  | $ | (1) |  |  | $ | (495) |  |  | $ | (299) |  |
Credit impaired |  | (417) |  |  | (158) |  |  | (1,086) |  |  | (401) |  |
Total available-for-sale securities |  | (495) |  |  | (159) |  |  | (1,581) |  |  | (700) |  |
Expected credit losses: |  |  |  |  |  |  |  |  |
Held-to-maturity securities |  | 0 |  |  | 0 |  |  | 0 |  |  | (2,167) |  |
Agent loans |  | (111) |  |  | (354) |  |  | (275) |  |  | (354) |  |
Other loans receivable |  | (204) |  |  | (185) |  |  | (777) |  |  | (542) |  |
Net impairment losses recognized in earnings |  | $ | (810) |  |  | $ | (698) |  |  | $ | (2,633) |  |  | $ | (3,763) |  |

X
- Definition Tabular disclosure of allowance for credit loss on investment in available-for-sale and held-to-maturity debt securities, and allowance for credit loss on financing receivable. + References No definition available. + Details
Name: | erie_AllowanceForCreditLossTableTextBlock
Namespace Prefix: | erie_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized and unrealized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | erie_RealizedandUnrealizedGainLossonInvestmentsTableTextBlock
Namespace Prefix: | erie_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of impairment (losses) recoveries on available-for-sale and held-to-maturity debt securities and financing receivables recognized in earnings. + References No definition available. + Details
Name: | erie_ScheduleOfImpairmentLossesRecoveriesTableTextBlock
Namespace Prefix: | erie_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(8)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(7)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(7)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(9)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 + Details
Name: | us-gaap_InvestmentIncomeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration