-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NeO0T9la9NKEzUfYGHOSlidrczZrUo3KIR9jZzOOpZOqCgQ/BkqCvoAudjHH6rXP iPti3stlZqwaIbpCT/sMBA== 0000922621-04-000006.txt : 20040426 0000922621-04-000006.hdr.sgml : 20040426 20040426095531 ACCESSION NUMBER: 0000922621-04-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040426 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ERIE INDEMNITY CO CENTRAL INDEX KEY: 0000922621 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 250466020 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24000 FILM NUMBER: 04752912 BUSINESS ADDRESS: STREET 1: 100 ERIE INSURANCE PL CITY: ERIE STATE: PA ZIP: 16530 BUSINESS PHONE: 8148702000 MAIL ADDRESS: STREET 1: 100 ERIE INSURANCE PLACE CITY: ERIE STATE: PA ZIP: 16530 8-K 1 a8kind2.txt PRESS RELEASE ISSUED APRIL 26 , 2004 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 26, 2004 ERIE INDEMNITY COMPANY (Exact name of registrant as specified in its charter) PENNSYLVANIA 0-24000 25-0466020 ------------------------------- ------------- ------------------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation) File Number) Identification No.) 100 Erie Insurance Place, Erie, Pennsylvania 16530 - -------------------------------------------- ---------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (814) 870-2000 1 Item 5. OTHER EVENTS. On April 26, 2004 Erie Indemnity Company issued a press release which is filed as Exhibit 99.1 hereto and is incorporated herein by reference. Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits Exhibit Number Description - -------------- ----------- 99.1 Press release dated April 26, 2004 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ERIE INDEMNITY COMPANY Erie Indemnity Company ------------------------------ (Registrant) Date: April 26, 2004 /s/ Philip A. Garcia ------------------------------- (Philip A. Garcia, Executive Vice President & CFO) 3 EX-99 2 exh99-1.txt PRESS RELEASE EXHIBIT EXHIBIT 99.1 CONTACT: Mark Dombrowski, Public and Media Relations 1-800-458-0811 ext. 2285 or 814/870-2285 Erie Indemnity Provides Supplemental First Quarter Data Erie, Pa., April 26, 2004 - Erie Indemnity Company (Nasdaq: ERIE) is providing supplemental information in response to questions raised during the Company's April 23, 2004 webcast and conference call which discusses first quarter, 2004 financial results. The following table presents the amount of cancellation premium, which represents written but unearned premium associated with policies cancelled during the respective calendar quarters. Cancellation premium is charged against the gross written premium in the Property & Casualty Group Statements of Operations in the period when the policy is cancelled. The percentages presented in the right column reflect the proportion of cancellation premium to total gross written premium during the respective calendar quarter. Quarter Cancellation % Of Gross Written Ended Premium Premium - ---------------------------------------------------------------------------- March 31, 2002 $ 52,118,848 6.81% June 30, 2002 55,501,632 6.29 September 30, 2002 61,915,798 6.89 December 31, 2002 63,710,413 7.60 March 31, 2003 72,013,010 7.68 June 30, 2003 74,179,130 7.08 September 30, 2003 85,704,049 8.11 December 31, 2003 90,929,672 9.54 March 31, 2004 $107,249,704 10.04% The following table presents the reported Statutory Combined Ratio (not adjusted for the profit component of the management fee paid to Erie Indemnity Company) for Private Passenger Automobile policies of the Erie Insurance Property & Casualty Group for the respective calendar quarters. Erie Insurance Property & Casualty Group Reported Statutory Combined Quarter Ratio for Private Passenger Ended Automobile - --------------------------------------------------------------------- March 31, 2002 113.06% June 30, 2002 113.30 September 30, 2002 116.87 December 31, 2002 163.87 March 31, 2003 118.50 June 30, 2003 104.96 September 30, 2003 104.99 December 31, 2003 107.06 March 31, 2004 106.21% 4 Erie Indemnity Company provides management services to the member companies of the Erie Insurance Group, which includes the Erie Insurance Exchange, Flagship City Insurance Company, Erie Insurance Company, Erie Insurance Property and Casualty Company, Erie Insurance Company of New York and Erie Family Life Insurance Company. According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 16th largest automobile insurer in the United States based on direct premiums written and the 20th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has more than 3.7 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group ranked 368 on the FORTUNE 500 and is included in Forbes Magazine's PLATINUM 400 list of the best-managed companies in America. News releases and more information about Erie Insurance Group are available at http://www.erieinsurance.com - ---------------------------- "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995: Certain forward-looking statements contained herein involve risks and uncertainties. These statements include certain discussions relating to management fee revenue, cost of management operations, underwriting, premium and investment income volume, business strategies, profitability and business relationships and the Company's other business activities during 2004 and beyond. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "project," "predict," "potential" and similar expressions. These forward-looking statements reflect the Company's current views about future events, are based on assumptions and are subject to known and unknown risks and uncertainties that may cause results to differ materially from those anticipated in those statements. Many of the factors that will determine future events or achievements are beyond our ability to control or predict. 5 -----END PRIVACY-ENHANCED MESSAGE-----