Erie Indemnity rises as Q4 profit beats estimates

Erie Indemnity

27/02/2024 18:59

** Class A shares of property and casualty insurer Erie
Indemnity  ERIE.O  rise 8.6% to $384.84 in afternoon trade
    ** After market close on Monday, ERIE posted Q4 net income
of $110.9 mln, or $2.12 per Class A share, beating analysts'
expectations of $2.03 - LSEG
    ** Q4 management fee revenue from policy issuance and
renewal services jumped 19.5% to $601.6 mln, compared to last
year
    ** Q4 net investment more than tripled to $14.2 mln,
compared to last year
    ** Including session's moves, stock up 15% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))