Erie Indemnity Co. - Ordinary Shares - Class A

Strong Financial Performance: Erie Indemnity Company reported a net income of $600 million for 2024, with earnings per diluted share of $11.48, a significant increase from $446 million and $8.53 per diluted share in 2023. This growth reflects a robust operating performance amid industry challenges.

Premium Growth and Retention: Direct written premiums for Erie Insurance Exchange grew by 16% in Q4 2024 and over 18% for the full year, supported by a 4.8% increase in policies in force, reaching over 7 million. Policyholder retention remained strong at 90.4%, indicating solid customer loyalty despite market volatility.

Improved Combined Ratio: The combined ratio improved significantly from 119.1 in 2023 to 110.4 for the full year 2024, demonstrating enhanced profitability as rate increases took effect. The fourth quarter ratio improved to 105.7, signaling better underwriting performance.