Posted: August 2nd, 2012
Erie Indemnity earns $43 million in 2nd quarter
Erie-based Erie Indemnity Co. earned a $43 million profit in the second quarter of 2012.
That’s down 17 percent from the $52 million the company earned in the second quarter of 2011.
The company, one of Erie County’s largest employers, saw margins decline in both management operations and investment income.
The company’s management arm reported pre-tax income of $59 million, down 7.2 percent from the same quarter in the previous year.
Profits from investments also fell, slipping 64 percent from $17 million to $6 million.
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