Business Services Industry
Erie Insurance Profits Rise 21.8 Percent in Year-over-Year Comparison.
Knight Ridder/Tribune Business News, October, 2003
Erie Times-News, Pa. Knight Ridder/Tribune Business News
Oct. 30--Erie Indemnity Co. closed the books on its third quarter with a net profit of $56.2 million, an increase of 21.8 percent over its $46.2 million profit during the same quarter a year ago.
Revenues for the quarter totaled $286.8 million, up 13.6 percent from $252.4 million during the same quarter in 2002, according to the company's quarterly financial report released late Wednesday afternoon.
Erie Indemnity is the management company for the member companies of the Erie Insurance Group, Erie County's second-largest employer.
Its increased profit is largely the result of a 9 percent increase in the number of policies in force over a year ago, higher premiums and...
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