December 2023 Erie Insurance Property & Casualty Company

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE ERIE INSURANCE PROPERTY & CASUALTY COMPANY

ASSETS

							Current Year		Prior Year
						1	2	3	4
								Net Admitted Assets	Net Admitted
						Assets	Nonadmitted Assets	(Cols. 1 - 2)	Assets
1.	Bonds (Schedule D)			12,951,575	...................................	12,951,575	12,385,853
2.	Stocks (Schedule D):
	2.1 Preferred stocks			...................................	...................................	...................................	...................................
	2.2 Common stocks			...................................	...................................	...................................	...................................
3.	Mortgage loans on real estate (Schedule B):
	3.1 First liens				...................................	...................................	...................................	...................................
	3.2 Other than first liens		...................................	...................................	...................................	...................................
4.	Real estate (Schedule A):
	4.1 Properties occupied by the company (less $
	encumbrances)			...................................	...................................	...................................	...................................
	4.2 Properties held for	the production of income (less
	$		encumbrances)	...................................	...................................	...................................	...................................
	4.3 Properties held for sale (less $

	.......................................................................................encumbrances)			...................................	...................................	...................................	...................................
5.	Cash ($	(3,810) , Schedule E - Part 1), cash equivalents
	($	665,573	, Schedule E - Part 2) and short-term
	investments ($	...................................	, Schedule DA)	661,763	...................................	661,763	1,302,849
6.	Contract loans (including $	................................... premium notes)	...................................	...................................	...................................	...................................
7.	Derivatives (Schedule DB)		...................................	...................................	...................................	...................................
8.	Other invested assets (Schedule BA)	...................................	...................................	...................................	...................................
9.	Receivable for securities		382,950	...................................	382,950	5,020
10.	Securities lending reinvested collateral assets (Schedule DL)	...................................	...................................	...................................	...................................
11.	Aggregate write-ins for invested assets	...................................	...................................	...................................	...................................
12.	Subtotals, cash and invested assets (Lines 1 to 11)	13,996,288	...................................	13,996,288	13,693,722
13.	Title plants less $		charged off (for Title insurers
	only)				...................................	...................................	...................................	...................................
14.	.............................................................Investment income due and accrued	.......................123,533	...................................	.......................123,533	...................... 111,475
15.	Premiums and considerations:
	15.1 Uncollected premiums and agents' balances in the course of collection	4,330,259	...................................	4,330,259	4,725,465
	15.2 Deferred premiums, agents' balances and installments booked but
	...................................deferred and not yet due (including $
	............................................................earned but unbilled premiums)	............... 122,221,200	...................................	............... 122,221,200	............... 108,251,925
	...................................15.3 Accrued retrospective premiums ($	) and
	contracts subject to redetermination ($	)	...................................	...................................	...................................	...................................
16.	Reinsurance:
	....................................................16.1 Amounts recoverable from reinsurers	...................................	...................................	...................................	...................................
	..........................16.2 Funds held by or deposited with reinsured companies	...................................	...................................	...................................	...................................
	........................16.3 Other amounts receivable under reinsurance contracts	...................................	...................................	...................................	...................................
17.	Amounts receivable relating to uninsured plans	...................................	...................................	...................................	...................................
18.1	Current federal and foreign income tax recoverable and interest thereon ....	9,104	...................................	9,104	4,193
18.2	...................................................................................Net deferred tax asset			...................................	...................................	...................................	...................................
19.	......................................................Guaranty funds receivable or on deposit	...................................	...................................	...................................	...................................
20.	.....................................Electronic data processing equipment and software	...................................	...................................	...................................	...................................
21.	Furniture and equipment, including health care delivery assets
	($		)	...................................	...................................	...................................	...................................
22.	.........Net adjustment in assets and liabilities due to foreign exchange rates	...................................	...................................	...................................	...................................
23.	.....................................Receivables from parent, subsidiaries and affiliates	...................................	...................................	...................................	...................................
24.	Health care ($		) and other amounts receivable	...................................	...................................	...................................	...................................
25.	Aggregate write-ins for other than invested assets	...................................	...................................	...................................	...................................
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines 12 to 25)	140,680,384	...................................	140,680,384	126,786,780
27.	From Separate Accounts, Segregated Accounts and Protected Cell
	Accounts				...................................	...................................	...................................	...................................
28.	Total (Lines 26 and 27)				140,680,384		140,680,384	126,786,780
	DETAILS OF WRITE-INS

1101. ........................................................................................................................ .................................... .................................... .................................... ....................................

1102. ........................................................................................................................ .................................... .................................... .................................... ....................................

1103. ........................................................................................................................ .................................... .................................... .................................... ....................................

1198. Summary of remaining write-ins for Line 11 from overflow page ................... ................................... ................................... ................................... ...................................

1199. Totals (Lines 1101 thru 1103 plus 1198)(Line 11 above)

2501. ........................................................................................................................ .................................... .................................... .................................... ....................................

2502. ........................................................................................................................ .................................... .................................... .................................... ....................................

2503. ........................................................................................................................ .................................... .................................... .................................... ....................................

2598. Summary of remaining write-ins for Line 25 from overflow page ................... ................................... ................................... ................................... ...................................

2599. Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE ERIE INSURANCE PROPERTY & CASUALTY COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

				1	2
				Current Year	Prior Year
1.	Losses (Part 2A, Line 35, Column 8)	........................................................................................................................................	...................................	...................................
2.	.....................................Reinsurance payable on paid losses and loss adjustment expenses (Schedule F, Part 1, Column 6)	...................................	...................................
3.	.........................................................................................................Loss adjustment expenses (Part 2A, Line 35, Column 9)	...................................	...................................
4.	.............................................................................Commissions payable, contingent commissions and other similar charges	...................................	...................................
5.	...............................................................................................................Other expenses (excluding taxes, licenses and fees)	...................................	...................................
6.	...................................................................................Taxes, licenses and fees (excluding federal and foreign income taxes)	...................................	...................................
7.1	...................................Current federal and foreign income taxes (including $	on realized capital gains (losses))	...................................	...................................
7.2	Net deferred tax liability		..........................7,812	..........................2,699
8.	Borrowed money $	and interest thereon $	..........................................	...................................	...................................

9. Unearned premiums (Part 1A, Line 38, Column 5) (after deducting unearned premiums for ceded reinsurance of

	$	190,750,880	and including warranty reserves of $	and accrued accident and
	health experience rating refunds including $	for	medical loss ratio rebate per the Public Health
	.............................................................................................................................................................................Service Act)					...................................	...................................
10.	.....................................................................................................................................................................Advance premium				...................................	...................................
11.	Dividends declared and unpaid:
	......................................................................................................................................................................11.1 Stockholders				...................................	...................................
	.....................................................................................................................................................................11.2 Policyholders				...................................	...................................
12.	........................................................................................Ceded reinsurance premiums payable (net of ceding commissions)		................126,537,824	................112,949,374
13.	Funds held by company under reinsurance treaties (Schedule F, Part 3, Column 20)	.............................................................	...................................	...................................
14.	Amounts withheld or retained by company for account of others	..............................................................................................		...................................	...................................
15.	Remittances and items not allocated			..........................9,825	........................ 17,516
16.	...................................Provision for reinsurance (including $	.........................certified) (Schedule F, Part 3, Column 78)	...................................	...................................
17.	...................................................................................Net adjustments in assets and liabilities due to foreign exchange rates		...................................	...................................
18.	.....................................................................................................................................................................Drafts outstanding				...................................	...................................
19.	............................................................................................................................Payable to parent, subsidiaries and affiliates			............................. 645	............................. 521
20.	Derivatives					...................................	...................................
21.	................................................................................................................................................................Payable for securities				...................................	...................................
22.	....................................................................................................................................................Payable for securities lending			...................................	...................................
23.	......................................................................................................................Liability for amounts held under uninsured plans			...................................	...................................
24.	Capital notes $	...................................and interest thereon $	.................................................	...................................	...................................
25.	Aggregate write-ins for liabilities
26.	Total liabilities excluding protected cell liabilities (Lines 1 through 25)		............... 126,556,106	................112,970,110
27.	Protected cell liabilities
28.	Total liabilities (Lines 26 and 27)			............... 126,556,106	................112,970,110
29.	............................................................................................................................Aggregate write-ins for special surplus funds			...................................	...................................
30.	...............................................................................................................................................................Common capital stock				...................2,350,000	...................2,350,000
31.	...............................................................................................................................................................Preferred capital stock				...................................	...................................
32.	...........................................................................................................Aggregate write-ins for other than special surplus funds			...................................	...................................
33.	.............................................................................................................................................................................Surplus notes					...................................	...................................
34.	.......................................................................................................................................Gross paid in and contributed surplus			...................2,675,000	...................2,675,000
35.	.......................................................................................................................................................Unassigned funds (surplus)				...................9,099,278	................... 8,791,670
36.	Less treasury stock, at cost:
	36.1	shares common (value included in Line 30	$	)	...................................	...................................
	36.2	shares preferred (value included in Line 31	$	)	...................................	...................................
37.	Surplus as regards policyholders (Lines 29 to 35, less 36) (Page 4, Line 39)	14,124,278	13,816,670
38.	TOTALS (Page 2, Line 28, Col. 3)				140,680,384	126,786,780
	DETAILS OF WRITE-INS
2501		....................................
2502		....................................
2503		....................................
2598.	Summary of remaining write-ins for Line 25 from overflow page	..............................................................................................		...................................	...................................
2599.	Totals (Lines 2501 thru 2503 plus 2598)(Line 25 above)
2901		....................................
2902		....................................
2903		....................................
2998.	Summary of remaining write-ins for Line 29 from overflow page	..............................................................................................		...................................	...................................
2999.	Totals (Lines 2901 thru 2903 plus 2998)(Line 29 above)
3201.	......................................................................................................................................................................................................................................		....................................

3202. ........................................................................................................................................................................................................................................ ....................................

3203. ........................................................................................................................................................................................................................................ ....................................

3298. Summary of remaining write-ins for Line 32 from overflow page .............................................................................................. ................................... ...................................

3299. Totals (Lines 3201 thru 3203 plus 3298)(Line 32 above)

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE ERIE INSURANCE PROPERTY & CASUALTY COMPANY

STATEMENT OF INCOME

			1	2
			Current Year	Prior Year
	UNDERWRITING INCOME
1.	Premiums earned (Part 1, Line 35, Column 4)	...................................	...................................
	DEDUCTIONS:
2.	Losses incurred (Part 2, Line 35, Column 7)	...................................	...................................
3.	Loss adjustment expenses incurred (Part 3, Line 25, Column 1)	...................................	...................................
4.	Other underwriting expenses incurred (Part 3, Line 25, Column 2)	...................................	...................................
5.	Aggregate write-ins for underwriting deductions	...................................	...................................
6.	Total underwriting deductions (Lines 2 through 5)
7.	Net income of protected cells	...................................	...................................
8.	Net underwriting gain (loss) (Line 1 minus Line 6 plus Line 7)	...................................	...................................
	INVESTMENT INCOME
9.	............................................................................Net investment income earned (Exhibit of Net Investment Income, Line 17)	.......................392,711	.......................303,650
10.	Net realized capital gains (losses) less capital gains tax of $	(Exhibit of Capital
	Gains (Losses) )	(30,775)	(105,775)
11.	Net investment gain (loss) (Lines 9 + 10)	361,936	197,875
	OTHER INCOME

12. Net gain (loss) from agents' or premium balances charged off (amount recovered


	$	amount charged off $	)	...................................
13.	Finance and service charges not included in premiums	...................................	...................................
14.	Aggregate write-ins for miscellaneous income
15.	..................................................................................................................................Total other income (Lines 12 through 14)
16.	Net income before dividends to policyholders, after capital gains tax and before all other federal and foreign income taxes
	(Lines 8 + 11 + 15)	361,936	.......................197,875

Dividends to policyholders .........................................................................................................................................................
Net income, after dividends to policyholders, after capital gains tax and before all other federal and foreign income taxes

	(Line 16 minus Line 17)	361,936	197,875
19.	Federal and foreign income taxes incurred		49,215	21,164
20.	Net income (Line 18 minus Line 19)(to Line 22)	176,711
	CAPITAL AND SURPLUS ACCOUNT
21.	Surplus as regards policyholders, December 31 prior year (Page 4, Line 39, Column 2)	13,816,670	................. 13,641,421
22.	Net income (from Line 20)	312,721	176,711
23.	Net transfers (to) from Protected Cell accounts	...................................	...................................
24.	Change in net unrealized capital gains or (losses) less capital gains tax of $	..............................	...................................	...................................
25.	Change in net unrealized foreign exchange capital gain (loss)	...................................	...................................
26.	Change in net deferred income tax	........................ (5,113)	........................ (1,462)
27.	Change in nonadmitted assets (Exhibit of Nonadmitted Assets, Line 28, Col. 3)	...................................	...................................
28.	Change in provision for reinsurance (Page 3, Line 16, Column 2 minus Column 1)	...................................	...................................
29.	Change in surplus notes	...................................	...................................
30.	Surplus (contributed to) withdrawn from protected cells	...................................	...................................
31.	Cumulative effect of changes in accounting principles	...................................	...................................
32.	Capital changes:
	32.1 Paid in	...................................	...................................
	32.2 Transferred from surplus (Stock Dividend)	...................................	...................................
	32.3 Transferred to surplus	...................................	...................................
33.	Surplus adjustments:
	33.1 Paid in	...................................	...................................
	33.2 Transferred to capital (Stock Dividend)	...................................	...................................
	33.3 Transferred from capital	...................................	...................................
34.	Net remittances from or (to) Home Office	...................................	...................................
35.	Dividends to stockholders	...................................	...................................
36.	Change in treasury stock (Page 3, Lines 36.1 and 36.2, Column 2 minus Column 1)	...................................	...................................
37.	Aggregate write-ins for gains and losses in surplus
38.	Change in surplus as regards policyholders for the year (Lines 22 through 37)	307,608	175,249
39.	Surplus as regards policyholders, December 31 current year (Line 21 plus Line 38) (Page 3, Line 37)		14,124,278	13,816,670
	DETAILS OF WRITE-INS

0501. ........................................................................................................................................................................................................................................ ....................................

0502. ........................................................................................................................................................................................................................................ ....................................

0503. ........................................................................................................................................................................................................................................ ....................................

0598. Summary of remaining write-ins for Line 5 from overflow page ................................................................................................ ................................... ...................................

0599. Totals (Lines 0501 thru 0503 plus 0598)(Line 5 above)

1401. ........................................................................................................................................................................................................................................ ....................................

1402. ........................................................................................................................................................................................................................................ ....................................

1403. ........................................................................................................................................................................................................................................ ....................................

1498. Summary of remaining write-ins for Line 14 from overflow page .............................................................................................. ................................... ...................................

1499. Totals (Lines 1401 thru 1403 plus 1498)(Line 14 above)

3701. ........................................................................................................................................................................................................................................ ....................................

3702. ........................................................................................................................................................................................................................................ ....................................

3703. ........................................................................................................................................................................................................................................ ....................................

3798. Summary of remaining write-ins for Line 37 from overflow page .............................................................................................. ................................... ...................................

3799. Totals (Lines 3701 thru 3703 plus 3798)(Line 37 above)

ANNUAL STATEMENT FOR THE YEAR 2023 OF THE ERIE INSURANCE PROPERTY & CASUALTY COMPANY

CASH FLOW

Cash from Operations

Current Year

Prior Year

1.	Premiums collected net of reinsurance	........................ 14,382	..........................1,844
2.	Net investment income	.......................470,976	.......................437,813
3.	Miscellaneous income
4.	Total (Lines 1 through 3)	485,358	439,657
5.	Benefit and loss related payments	...................................	...................................
6.	.......................................................Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts	...................................	...................................
7.	Commissions, expenses paid and aggregate write-ins for deductions	...................................	...................................
8.	Dividends paid to policyholders	...................................	...................................
9.	Federal and foreign income taxes paid (recovered) net of $	tax on capital gains (losses)	54,126	22,018
10.	Total (Lines 5 through 9)	54,126	22,018
11.	Net cash from operations (Line 4 minus Line 10)	431,232	417,639

Cash from Investments

12. Proceeds from investments sold, matured or repaid:

12.1	Bonds	1,437,395	2,837,619
12.2	Stocks	...................................	...................................
12.3	Mortgage loans	...................................	...................................
12.4	Real estate	...................................	...................................
12.5	Other invested assets	...................................	...................................
12.6	Net gains or (losses) on cash, cash equivalents and short-term investments	...................................	...................................
12.7	Miscellaneous proceeds
12.8 Total investment proceeds (Lines 12.1 to 12.7)	................... 1,437,395	................... 2,837,619

13. Cost of investments acquired (long-term only):

	13.1	Bonds	2,124,215	2,709,262
	13.2	Stocks	...................................	...................................
	13.3	Mortgage loans	...................................	...................................
	13.4	Real estate	...................................	...................................
	13.5	Other invested assets	...................................	...................................
	13.6	Miscellaneous applications	377,930	98
	13.7	Total investments acquired (Lines 13.1 to 13.6)	2,502,145	2,709,360
14.	.................................................................................................Net increase/(decrease) in contract loans and premium notes
15.	Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14)	(1,064,750)	128,260
		Cash from Financing and Miscellaneous Sources

16.	Cash provided (applied):
	16.1	Surplus notes, capital notes	...................................	...................................
	16.2 Capital and paid in surplus, less treasury stock	...................................	...................................
	.................................................................................................................................................................16.3 Borrowed funds	...................................	...................................
	..............................................................................16.4 Net deposits on deposit-type contracts and other insurance liabilities	...................................	...................................
	.................................................................................................................................................16.5 Dividends to stockholders	...................................	...................................
	...........................................................................................................................................16.6 Other cash provided (applied)	(7,568)	(5,780)
17.	Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)	(7,568)	(5,780)
		RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
18.	........................................Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)	(641,086)	540,119
19.	Cash, cash equivalents and short-term investments:
	...............................................................................................................................................................19.1 Beginning of year	...................1,302,849	.......................762,730
	19.2 End of period (Line 18 plus Line 19.1)	661,763	1,302,849

Note: Supplemental disclosures of cash flow information for non-cash transactions:

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Erie Indemnity Company published this content on 04 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2024 12:35:43 UTC.

December 2023 Erie Insurance Property & Casualty Company

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