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Erie Indemnity Co (ERIE) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Erie Indemnity Co

CIK: 922621 Ticker: ERIE
Exhibit 99.1

CONTACT:    Scott Beilharz, Investor Relations
814/870-7312 or 1-800-458-0811 ext. 7312
scott.beilharz@erieinsurance.com
Erie Indemnity Reports Fourth Quarter and Total Year 2012 Results
 
4Q 2012 Highlights - Indemnity Shareholder Interest
 
Net income attributable to Indemnity per share-diluted was $0.56 per share in the fourth quarter of 2012, compared to net income per share-diluted of $0.49 per share in the fourth quarter of 2011.
Operating income attributable to Indemnity per share-diluted (excluding net realized gains or losses, impairments on investments and related taxes) was $0.54 per share in the fourth quarter of 2012, compared to operating income per share-diluted of $0.47 per share in the fourth quarter of 2011.
Indemnity’s management operations pretax income totaled $34 million in both the fourth quarters of 2012 and 2011. The gross margin from management operations was 12.2 percent in the fourth quarter of 2012, compared to 13.0 percent in the fourth quarter of 2011.
Indemnity’s investment operations pretax income totaled $10 million for the fourth quarter of 2012, compared to $7 million for the fourth quarter of 2011.
 
2012 Highlights - Indemnity Shareholder Interest
 
Net income attributable to Indemnity per share-diluted was $2.99 per share for the year ended December 31, 2012, compared to net income per share-diluted of $3.08 per share for the year ended December 31, 2011.
Operating income attributable to Indemnity per share-diluted (excluding net realized gains or losses, impairments on investments and related taxes) was $2.92 per share for the year ended December 31, 2012, compared to $3.04 per share-diluted for the year ended December 31, 2011.
Indemnity’s management operations pretax income totaled $205 million for the year ended December 31, 2012, compared to $208 million for the year ended December 31, 2011. The gross margin from management operations was 17.3 percent for the year ended December 31, 2012, compared to 18.9 percent for the year ended December 31, 2011.
Indemnity’s investment operations pretax income totaled $36 million for the year ended December 31, 2012, compared to $45 million for the year ended December 31, 2011.
 

Erie, Pa.February 26, 2013 – Erie Indemnity Company (NASDAQ: ERIE) today announced fourth quarter 2012 earnings of $30 million, compared to earnings of $26 million in the fourth quarter of 2011. Operating income was $29 million in the fourth quarter of 2012, compared to operating income of $25 million in the fourth quarter of 2011.

For the year ended December 31, 2012, Erie Indemnity Company's earnings totaled $160 million, compared to earnings of $169 million for the year ended December 31, 2011. Operating income was $157 million for the year ended December 31, 2012, compared to operating income of $167 million or the year ended December 31, 2011.
 


Note: The accompanying consolidated financial statements of Erie Indemnity Company (“Indemnity”) reflect the consolidated results of Indemnity and the Erie Insurance Exchange (“Exchange”), which we refer to collectively as the “Erie Insurance Group.” Indemnity, or Indemnity shareholder interest, refers to the interest in Erie Indemnity Company owned by the Class A and Class B shareholders. The Exchange refers to the noncontrolling interest held for the interest of the subscribers (policyholders), and includes its interest in its property and casualty subsidiaries and Erie Family Life Insurance Company (“EFL”).

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The following information was filed by Erie Indemnity Co (ERIE) on Tuesday, February 26, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Financial Position
Consolidated Statements Of Financial Position (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity And Noncontrolling Interest
Consolidated Statements Of Shareholders' Equity And Noncontrolling Interest (parenthetical)
Bank Line Of Credit
Bank Line Of Credit (details)
Capitalized Software Development Costs
Capitalized Software Development Costs (details)
Capitalized Software Development Costs (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Deferred Policy Acquisition Costs
Deferred Policy Acquisition Costs (details)
Deferred Policy Acquisition Costs (tables)
Fair Value
Fair Value (details 2)
Fair Value (details 3)
Fair Value (details 4)
Fair Value (details)
Fair Value (tables)
Goodwill Impairment
Goodwill Impairment (details)
Incentive Plans And Deferred Compensation
Incentive Plans And Deferred Compensation (details)
Incentive Plans And Deferred Compensation (tables)
Income Taxes
Income Taxes (details 2)
Income Taxes (details)
Income Taxes (tables)
Income Taxes Income Taxes-narrative (details)
Indemnity Accumulated Other Comprehensive Loss
Indemnity Accumulated Other Comprehensive Loss (details)
Indemnity Accumulated Other Comprehensive Loss (tables)
Indemnity Capital Stock
Indemnity Capital Stock (details)
Indemnity Earnings Per Share
Indemnity Earnings Per Share (details)
Indemnity Earnings Per Share (tables)
Indemnity Supplemental Information
Indemnity Supplemental Information (details 2)
Indemnity Supplemental Information (details 3)
Indemnity Supplemental Information (details)
Indemnity Supplemental Information (tables)
Investments
Investments (details 2)
Investments (details 3)
Investments (details 4)
Investments (details 5)
Investments (details 6)
Investments (details)
Investments (tables)
Life Policy And Deposit Contract Reserves
Life Policy And Deposit Contract Reserves (details)
Life Policy And Deposit Contract Reserves (tables)
Nature Of Operations
Nature Of Operations (details 2)
Nature Of Operations (details)
Postretirement Benefits
Postretirement Benefits (details 10)
Postretirement Benefits (details 11)
Postretirement Benefits (details 12)
Postretirement Benefits (details 13)
Postretirement Benefits (details 2)
Postretirement Benefits (details 3)
Postretirement Benefits (details 4)
Postretirement Benefits (details 5)
Postretirement Benefits (details 6)
Postretirement Benefits (details 7)
Postretirement Benefits (details 8)
Postretirement Benefits (details 9)
Postretirement Benefits (details)
Postretirement Benefits (tables)
Property And Casualty Unpaid Losses And Loss Expenses
Property And Casualty Unpaid Losses And Loss Expenses (details)
Property And Casualty Unpaid Losses And Loss Expenses (tables)
Quarterly Results Of Operations (unaudited)
Quarterly Results Of Operations (unaudited) (details)
Quarterly Results Of Operations (unaudited) (tables)
Reinsurance
Reinsurance (details 2)
Reinsurance (details)
Reinsurance (tables)
Schedule I - Summary Of Investments - Other Than Investments In Related Parties
Schedule I Summary Of Investments - Other Than Investments In Related Parties (details)
Schedule Iii - Supplementary Insurance Information
Schedule Iii Supplementary Insurance Information (details)
Schedule Iv - Reinsurance
Schedule Iv Reinsurance (details)
Schedule Vi - Supplemental Information Concerning Property-casualty Insurance Operations
Schedule Vi Supplemental Information Concerning Property-casualty Insurance Operations (details)
Segment Information
Segment Information (details)
Segment Information (tables)
Significant Accounting Policies
Significant Accounting Policies (details 2)
Significant Accounting Policies (details)
Significant Accounting Policies (policies)
Significant Accounting Policies Significant Accounting Policies (details 3)
Statutory Information
Statutory Information (details)
Statutory Information (tables)
Subsequent Events
Supplementary Data On Cash Flows
Supplementary Data On Cash Flows (details)
Supplementary Data On Cash Flows (tables)
Variable Interest Entity
Variable Interest Entity (details)

Material Contracts, Statements, Certifications & more

Erie Indemnity Co provided additional information to their SEC Filing as exhibits

Ticker: ERIE
CIK: 922621
Form Type: 10-K Annual Report
Accession Number: 0001445305-13-000346
Submitted to the SEC: Tue Feb 26 2013 4:33:58 PM EST
Accepted by the SEC: Tue Feb 26 2013
Period: Monday, December 31, 2012
Industry: Insurance Agents Brokers And Service

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