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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Schedule of components of the Consolidated Statements of Operations by reportable business segment
The following tables summarize the components of the Consolidated Statements of Operations by reportable business segment:
 
 
 
Erie Insurance Group
(in millions)
 
Three months ended June 30, 2014
 
 
Management
operations
 
Property
and casualty
insurance
operations
 
Life
insurance
operations
 
Investment
operations
 
Eliminations
 
Consolidated
Premiums earned/life policy revenue
 
 
 
$
1,298

 
$
22

 
 
 
$
(1
)
 
$
1,319

Net investment income
 
 
 
 
 
 
 
$
116

 
(5
)
 
111

Net realized investment gains
 
 
 
 
 
 
 
133

 
 
 
133

Net impairment losses recognized in earnings
 
 
 
 
 
 
 
0

 
 
 
0

Equity in earnings of limited partnerships
 
 
 
 
 
 
 
27

 
 
 
27

Management fee revenue
 
$
366

 
 
 
 
 
 
 
(366
)
 
—

Service agreement and other revenue
 
8

 
 
 
0

 
 
 
 
 
8

Total revenues
 
374

 
1,298

 
22

 
276

 
(372
)
 
1,598

Cost of management operations
 
306

 
 
 
 
 
 
 
(306
)
 
—

Insurance losses and loss expenses
 
 
 
1,101

 
27

 
 
 
(2
)
 
1,126

Policy acquisition and underwriting expenses
 
 
 
380

 
9

 
 
 
(64
)
 
325

Total benefits and expenses
 
306

 
1,481

 
36

 
—

 
(372
)
 
1,451

Income (loss) before income taxes
 
68

 
(183
)
 
(14
)
 
276

 
—

 
147

Provision for income taxes
 
24

 
(64
)
 
(5
)
 
89

 
—

 
44

Net income (loss)
 
$
44

 
$
(119
)
 
$
(9
)
 
$
187

 
—

 
$
103

 
 
 
 
Erie Insurance Group
(in millions)
 
Three months ended June 30, 2013
 
 
Management
operations
 
Property
and casualty
insurance
operations
 
Life
insurance
operations
 
Investment
operations
 
Eliminations
 
Consolidated
Premiums earned/life policy revenue
 
 
 
$
1,196

 
$
20

 
 
 
$
(1
)
 
$
1,215

Net investment income
 
 
 
 
 
 
 
$
107

 
(3
)
 
104

Net realized investment gains
 
 
 
 
 
 
 
61

 
 
 
61

Net impairment losses recognized in earnings
 
 
 
 
 
 
 
(1
)
 
 
 
(1
)
Equity in earnings of limited partnerships
 
 
 
 
 
 
 
39

 
 
 
39

Management fee revenue
 
$
336

 
 
 
 
 
 
 
(336
)
 
—

Service agreement and other revenue
 
8

 
 
 
0

 
 
 
 
 
8

Total revenues
 
344

 
1,196

 
20

 
206

 
(340
)
 
1,426

Cost of management operations
 
285

 
 
 
 
 
 
 
(285
)
 
—

Insurance losses and loss expenses
 
 
 
837

 
26

 
 
 
(2
)
 
861

Policy acquisition and underwriting expenses
 
 
 
348

 
7

 
 
 
(53
)
 
302

Total benefits and expenses
 
285

 
1,185

 
33

 
—

 
(340
)
 
1,163

Income (loss) before income taxes
 
59

 
11

 
(13
)
 
206

 
—

 
263

Provision for income taxes
 
21

 
4

 
(5
)
 
66

 
—

 
86

Net income (loss)
 
$
38

 
$
7

 
$
(8
)
 
$
140

 
$
—

 
$
177


 
 
Erie Insurance Group
(in millions)
 
Six months ended June 30, 2014
 
 
Management
operations
 
Property
and casualty
insurance
operations
 
Life
insurance
operations
 
Investment
operations
 
Eliminations
 
Consolidated
Premiums earned/life policy revenue
 
 
 
$
2,566

 
$
42

 
 
 
$
(1
)
 
$
2,607

Net investment income
 
 
 
 
 
 
 
$
228

 
(8
)
 
220

Net realized investment gains
 
 
 
 
 
 
 
189

 
 
 
189

Net impairment losses recognized in earnings
 
 
 
 
 
 
 
0

 
 
 
0

Equity in earnings of limited partnerships
 
 
 
 
 
 
 
77

 
 
 
77

Management fee revenue
 
$
685

 
 
 
 
 
 
 
(685
)
 
—

Service agreement and other revenue
 
15

 
 
 
1

 
 
 
 
 
16

Total revenues
 
700

 
2,566

 
43

 
494

 
(694
)
 
3,109

Cost of management operations
 
574

 
 
 
 
 
 
 
(574
)
 
—

Insurance losses and loss expenses
 
 
 
2,108

 
55

 
 
 
(3
)
 
2,160

Policy acquisition and underwriting expenses
 
 
 
745

 
18

 
 
 
(117
)
 
646

Total benefits and expenses
 
574

 
2,853

 
73

 
—

 
(694
)
 
2,806

Income (loss) before income taxes
 
126

 
(287
)
 
(30
)
 
494

 
—

 
303

Provision for income taxes
 
44

 
(100
)
 
(11
)
 
158

 
—

 
91

Net income (loss)
 
$
82

 
$
(187
)
 
$
(19
)
 
$
336

 
$
—

 
$
212

 
 
 
Erie Insurance Group
(in millions)
 
Six months ended June 30, 2013
 
 
Management operations
 
Property
and casualty
insurance
operations
 
Life insurance operations
 
Investment operations
 
Eliminations
 
Consolidated
Premiums earned/life policy revenue
 
 

 
$
2,352

 
$
39

 
 

 
$
(1
)
 
$
2,390

Net investment income
 
 

 
 

 
 

 
$
213

 
(6
)
 
207

Net realized investment gains
 
 

 
 

 
 

 
310

 
 

 
310

Net impairment losses recognized in earnings
 
 

 
 

 
 

 
(1
)
 
 

 
(1
)
Equity in earnings of limited partnerships
 
 

 
 

 
 

 
75

 
 

 
75

Management fee revenue
 
$
632

 
 

 
 

 
 

 
(632
)
 
—

Service agreement and other revenue
 
15

 
 

 
1

 
 

 
 

 
16

Total revenues
 
647

 
2,352

 
40

 
597

 
(639
)
 
2,997

Cost of management operations
 
539

 
 

 
 

 
 

 
(539
)
 
—

Insurance losses and loss expenses
 
 

 
1,654

 
52

 
 

 
(3
)
 
1,703

Policy acquisition and underwriting expenses
 
 

 
676

 
16

 
 

 
(97
)
 
595

Total benefits and expenses
 
539

 
2,330

 
68

 
—

 
(639
)
 
2,298

Income (loss) before income taxes
 
108

 
22

 
(28
)
 
597

 
—

 
699

Provision for income taxes
 
38

 
8

 
(10
)
 
196

 
—

 
232

Net income (loss)
 
$
70

 
$
14

 
$
(18
)
 
$
401

 
$
—

 
$
467