Erie Insurance Group
Erie Insurance Group
Official Website
Erie Insurance Group, listed as “ERIE” on the NASDAQ exchange, is a multi-line insurance company, offering auto, home, commercial and life insurance through a network of independent insurance agents. ERIE’s geographic presence currently extends through eleven states, mainly in the north east region, and the District of Columbia. Territories include Illinois, Indiana, Maryland, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin. The home office is located in downtown Erie, Pa, and is Erie County’s second largest employer, behind only General Electric.
Erie is the 15th largest auto insurer in the country based on direct premiums written, and the 3rd largest auto insurer in Pennsylvania. As ranked by Fortune magazine in April 2007, Erie Insurance Group is the 463rd largest U.S. corporate group, in terms of revenue. Erie Family Life ranks as the 119th largest life insurance company based on admitted assets, and the 140th largest life insurance company based on premiums written.
Erie Insurance Group has over an 80 year history. The Pennsylvania Insurance Department issued a license to the Erie Insurance Exchange as an automobile insurer in 1925 and operations began on April 20, 1925. Erie Insurance Exchange was formed as a reciprocal and Erie Indemnity Company was formed as its managing company. The annual premium charge per auto was $34. The founding purpose of the company was the same as it is today: “To provide our policyholders with as near perfect protection, as near perfect service as is humanly possible and to do so at the lowest possible cost.”
In 1940 the company added a new line—fire insurance— allowing independent agents to more fully depend on ERIE to fulfill the insurance needs of their customers. In September, 1967 the Erie Family Life Insurance Company was founded adding life insurance to the protection offered by ERIE Agents.
