| | Business Summary | | Erie
Indemnity
Company
was
formed
to
be
the
attorney-in-fact
for
Erie
Insurance
Exchange
(the
Exchange),
a
Pennsylvania-based
reciprocal
insurance
exchange.
The
Company's
principal
business
activity
consists
of
managing
the
affairs
of
the
Exchange,
with
fees
from
the
Exchange
accounting
for
approximately
74%
of
the
Company's
consolidated
revenues.
The
Company
also
participates
in
the
property/casualty
insurance
business
through
its
three
wholly
owned
subsidiaries,
Erie
Insurance
Company,
Erie
Insurance
Company
of
New
York
and
Erie
Insurance
Property
and
Casualty
Company,
and
through
its
management
of
the
Flagship
City
Insurance
Company,
a
subsidiary
of
the
Exchange.
The
Company
and
Exchange
also
own
common
stock
interests
of
21.6%
and
53.5%,
respectively,
in
Erie
Family
Life
Insurance
Company,
an
affiliated
life
insurance
company.
Together
with
the
Exchange,
the
Company
and
its
subsidiaries
and
affiliates
operate
collectively
under
the
name
Erie
Insurance
Group. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | ERIE
is
the
attorney-in-fact
for
Erie
Insurance
Exchange.
The
Company's
principal
business
consists
of
management
of
the
Exchange.
The
Company
also
engages
in
the
property/casualty
insurance
business.
For
the
six
months
ended
6/30/01,
revenues
rose
9%
to
$423.8
million.
Net
income
rose
4%
to
$81.9
million.
Revenues
reflect
increased
gains
in
management
operations.
Net
income
was
partially
offset
by
increasedcommissions
to
independent
agents. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| F. William Hirt, 75
Chairman | -- | Stephen Milne, 52
Pres,
CEO, Director | $1.6M | Philip Garcia, 44
Exec.
VP, CFO | 543K | Jan Van Gorder, 53
Sr.
Exec. VP, Sec., Gen. Counsel, Director | 801K | John Brinling, Jr., 65
Exec.
VP | 536K | | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/e/erie.gif)