Erie Indemnity's profit falls on $100 million charitable contribution

Reuters02-24 06:41

Erie Indemnity's profit falls on $100 million charitable contribution

Feb 23 (Reuters) - Property and casualty insurer Erie Indemnity ERIE.O reported a fall in fourth-quarter profit on Monday, hit by a $100 million charitable contribution made to the Erie Insurance Foundation.

Net income fell to $63.4 million, or $1.21 per diluted share, in the three months ended December 31, compared to $152 million, or $2.91 per diluted share, in the year-ago period.

The stock was last down 1.4% after the bell. Still, its core business performed well in the quarter.

Insurance demand held steady as companies and consumers continued to purchase coverage to protect against financial losses, accidents, property damage and natural disasters, even as insurance prices rose.

The company's management fee revenue from policy issuance and renewal services rose to $727.6 million in the fourth quarter, up from $698.3 million a year ago.

Net investment income also rose nearly 19% in the quarter.

Insurers' portfolios are typically weighted toward bonds, which generate better returns in a high-interest-rate environment, providing a stable source of earnings and helping offset volatility in other parts of their business.

(Reporting by Manya Saini and Prakhar Srivastava in Bengaluru; Editing by Alan Barona)

((Prakhar.srivastava2@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2613475327?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-02-24 06:41","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2613475327","market":"nz","top_or_hot":-1,"title":"Erie Indemnity's profit falls on $100 million charitable contribution","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>Erie Indemnity's profit falls on $100 million charitable contribution </title></head><body><p><span>Feb 23 (Reuters)</span><span> - </span>Property and casualty insurer Erie Indemnity <span>ERIE.O</span> reported a fall in fourth-quarter profit on Monday, hit by a $100 million charitable contribution made to the Erie Insurance Foundation. </p><p>Net income fell to $63.4 million, or $1.21 per diluted share, in the three months ended December 31, compared to $152 million, or $2.91 per diluted share, in the year-ago period.</p><p>The stock was last down 1.4% after the bell. Still, its core business performed well in the quarter. </p><p>Insurance demand held steady as companies and consumers continued to purchase coverage to protect against financial losses, accidents, property damage and natural disasters, even as insurance prices rose.</p><p>The company's management fee revenue from policy issuance and renewal services rose to $727.6 million in the fourth quarter, up from $698.3 million a year ago. </p><p>Net investment income also rose nearly 19% in the quarter. </p><p>Insurers' portfolios are typically weighted toward bonds, which generate better returns in a high-interest-rate environment, providing a stable source of earnings and helping offset volatility in other parts of their business.</p><p> (Reporting by Manya Saini and Prakhar Srivastava in Bengaluru; Editing by Alan Barona)</p><p> ((Prakhar.srivastava2@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Erie Indemnity's profit falls on $100 million charitable contribution</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nErie Indemnity's profit falls on $100 million charitable contribution\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-02-24 06:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>Erie Indemnity's profit falls on $100 million charitable contribution </title></head><body><p><span>Feb 23 (Reuters)</span><span> - </span>Property and casualty insurer Erie Indemnity <span>ERIE.O</span> reported a fall in fourth-quarter profit on Monday, hit by a $100 million charitable contribution made to the Erie Insurance Foundation. </p><p>Net income fell to $63.4 million, or $1.21 per diluted share, in the three months ended December 31, compared to $152 million, or $2.91 per diluted share, in the year-ago period.</p><p>The stock was last down 1.4% after the bell. Still, its core business performed well in the quarter. </p><p>Insurance demand held steady as companies and consumers continued to purchase coverage to protect against financial losses, accidents, property damage and natural disasters, even as insurance prices rose.</p><p>The company's management fee revenue from policy issuance and renewal services rose to $727.6 million in the fourth quarter, up from $698.3 million a year ago. </p><p>Net investment income also rose nearly 19% in the quarter. </p><p>Insurers' portfolios are typically weighted toward bonds, which generate better returns in a high-interest-rate environment, providing a stable source of earnings and helping offset volatility in other parts of their business.</p><p> (Reporting by Manya Saini and Prakhar Srivastava in Bengaluru; Editing by Alan Barona)</p><p> ((Prakhar.srivastava2@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4107","symbol_name":"财产与意外伤害保险","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260223:nL4N3ZJ0QQ:1","article_id":"2613475327","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2613475327","pubTimestamp":1771886467,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Erie Indemnity's profit falls on $100 million charitable contribution Feb 23 (Reuters) - Property and casualty insurer Erie Indemnity ERIE.O reported a fall in fourth-quarter profit on Monday, hit by ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4107":"财产与意外伤害保险","ERIE":"伊瑞保险"},"translate_title":"伊利赔偿公司利润因1亿美元慈善捐款而下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ERIE":0.9},"content_text":"Erie Indemnity's profit falls on $100 million charitable contribution Feb 23 (Reuters) - Property and casualty insurer Erie Indemnity ERIE.O reported a fall in fourth-quarter profit on Monday, hit by a $100 million charitable contribution made to the Erie Insurance Foundation. Net income fell to $63.4 million, or $1.21 per diluted share, in the three months ended December 31, compared to $152 million, or $2.91 per diluted share, in the year-ago period.The stock was last down 1.4% after the bell. Still, its core business performed well in the quarter. Insurance demand held steady as companies and consumers continued to purchase coverage to protect against financial losses, accidents, property damage and natural disasters, even as insurance prices rose.The company's management fee revenue from policy issuance and renewal services rose to $727.6 million in the fourth quarter, up from $698.3 million a year ago. Net investment income also rose nearly 19% in the quarter. Insurers' portfolios are typically weighted toward bonds, which generate better returns in a high-interest-rate environment, providing a stable source of earnings and helping offset volatility in other parts of their business. (Reporting by Manya Saini and Prakhar Srivastava in Bengaluru; Editing by Alan Barona) ((Prakhar.srivastava2@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613475327","isCrawlerRequest":true}