| Three months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||||||||||||
| Operating revenue | ||||||||||||||||||||||||||
| Management fee revenue - policy issuance and renewal services | $ | 823,853 | $ | 760,886 | $ | 1,578,902 | $ | 1,426,572 | ||||||||||||||||||
| Management fee revenue - administrative services | 18,296 | 17,051 | 35,941 | 33,985 | ||||||||||||||||||||||
| Administrative services reimbursement revenue | 212,644 | 206,028 | 422,917 | 397,595 | ||||||||||||||||||||||
| Service agreement revenue | 5,304 | 6,473 | 11,736 | 12,987 | ||||||||||||||||||||||
| Total operating revenue | 1,060,097 | 990,438 | 2,049,496 | 1,871,139 | ||||||||||||||||||||||
| Operating expenses | ||||||||||||||||||||||||||
| Cost of operations - policy issuance and renewal services | 648,280 | 594,202 | 1,276,030 | 1,144,524 | ||||||||||||||||||||||
| Cost of operations - administrative services | 212,644 | 206,028 | 422,917 | 397,595 | ||||||||||||||||||||||
| Total operating expenses | 860,924 | 800,230 | 1,698,947 | 1,542,119 | ||||||||||||||||||||||
| Operating income | 199,173 | 190,208 | 350,549 | 329,020 | ||||||||||||||||||||||
| Investment income | ||||||||||||||||||||||||||
| Net investment income | 20,030 | 16,010 | 39,978 | 31,913 | ||||||||||||||||||||||
| Net realized and unrealized investment gains (losses) | 479 | (1,795) | 981 | 58 | ||||||||||||||||||||||
| Net impairment losses recognized in earnings | (909) | (388) | (1,823) | (3,065) | ||||||||||||||||||||||
| Total investment income | 19,600 | 13,827 | 39,136 | 28,906 | ||||||||||||||||||||||
| Other income | 1,974 | 3,292 | 5,808 | 6,703 | ||||||||||||||||||||||
| Income before income taxes | 220,747 | 207,327 | 395,493 | 364,629 | ||||||||||||||||||||||
| Income tax expense | 46,062 | 43,424 | 82,391 | 76,174 | ||||||||||||||||||||||
| Net income | $ | 174,685 | $ | 163,903 | $ | 313,102 | $ | 288,455 | ||||||||||||||||||
| Net income per share | ||||||||||||||||||||||||||
| Class A common stock – basic | $ | 3.75 | $ | 3.52 | $ | 6.72 | $ | 6.19 | ||||||||||||||||||
| Class A common stock – diluted | $ | 3.34 | $ | 3.13 | $ | 5.99 | $ | 5.52 | ||||||||||||||||||
| Class B common stock – basic and diluted | $ | 563 | $ | 528 | $ | 1,008 | $ | 929 | ||||||||||||||||||
| Weighted average shares outstanding – Basic | ||||||||||||||||||||||||||
| Class A common stock | 46,189,063 | 46,189,042 | 46,188,984 | 46,189,028 | ||||||||||||||||||||||
| Class B common stock | 2,542 | 2,542 | 2,542 | 2,542 | ||||||||||||||||||||||
| Weighted average shares outstanding – Diluted | ||||||||||||||||||||||||||
| Class A common stock | 52,304,407 | 52,305,299 | 52,304,397 | 52,303,551 | ||||||||||||||||||||||
| Class B common stock | 2,542 | 2,542 | 2,542 | 2,542 | ||||||||||||||||||||||
| Dividends declared per share | ||||||||||||||||||||||||||
| Class A common stock | $ | 1.365 | $ | 1.275 | $ | 2.73 | $ | 2.55 | ||||||||||||||||||
| Class B common stock | $ | 204.75 | $ | 191.25 | $ | 409.50 | $ | 382.50 | ||||||||||||||||||
| June 30, 2025 | December 31, 2024 | |||||||||||||
| (Unaudited) | ||||||||||||||
| Assets | ||||||||||||||
| Current assets: | ||||||||||||||
Cash and cash equivalents (includes restricted cash of $25,923 and $23,559, respectively) | $ | 358,027 | $ | 298,397 | ||||||||||
| Available-for-sale securities | 59,162 | 44,604 | ||||||||||||
| Receivables from Erie Insurance Exchange and affiliates, net | 769,148 | 707,060 | ||||||||||||
| Prepaid expenses and other current assets, net | 71,133 | 83,902 | ||||||||||||
| Accrued investment income | 11,998 | 11,069 | ||||||||||||
| Total current assets | 1,269,468 | 1,145,032 | ||||||||||||
| Available-for-sale securities, net | 1,048,584 | 991,726 | ||||||||||||
| Equity securities | 68,095 | 85,891 | ||||||||||||
| Available-for-sale and equity securities lent | 35,535 | 7,285 | ||||||||||||
| Fixed assets, net | 519,834 | 513,494 | ||||||||||||
| Agent loans, net | 85,027 | 80,597 | ||||||||||||
| Defined benefit pension plan | 54,650 | 21,311 | ||||||||||||
| Other assets, net | 47,021 | 43,278 | ||||||||||||
| Total assets | $ | 3,128,214 | $ | 2,888,614 | ||||||||||
| Liabilities and shareholders' equity | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Commissions payable | $ | 446,424 | $ | 408,309 | ||||||||||
| Agent incentive compensation | 70,101 | 75,458 | ||||||||||||
| Accounts payable and accrued liabilities | 193,032 | 190,028 | ||||||||||||
| Dividends payable | 63,569 | 63,569 | ||||||||||||
| Contract liability | 46,213 | 42,761 | ||||||||||||
| Deferred executive compensation | 7,181 | 14,874 | ||||||||||||
| Securities lending payable | 35,159 | 7,513 | ||||||||||||
| Total current liabilities | 861,679 | 802,512 | ||||||||||||
| Defined benefit pension plan | 26,820 | 28,070 | ||||||||||||
| Contract liability | 22,594 | 21,170 | ||||||||||||
| Deferred executive compensation | 18,471 | 19,721 | ||||||||||||
| Deferred income taxes, net | 476 | 6,418 | ||||||||||||
| Other long-term liabilities | 13,629 | 23,465 | ||||||||||||
| Total liabilities | 943,669 | 901,356 | ||||||||||||
| Shareholders’ equity | 2,184,545 | 1,987,258 | ||||||||||||
| Total liabilities and shareholders’ equity | $ | 3,128,214 | $ | 2,888,614 | ||||||||||