Earnings Grow At Erie Insurance
July 29--ERIE, Pa. -- Net income at Erie-based Erie Insurance was $61.3 million in the second quarter of the year, which ended June 30, the company announced after trading closed Thursday afternoon.
That's an increase of 9.5 percent from the $56 million the company earned in the same quarter of 2015.
Through the first six months of the year, profits are up from $94.9 million to $107.2 million.
There was good news on multiple fronts for the only Erie-based Fortune 500 company.
Management fees for the quarter rose 5.7 percent to $22.4 million, and commissions increased by $12.1 million.
Investment income slid, however, falling from $15.4 million to $7.4 million.
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