XML 72 R38.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Dec. 31, 2011
Dec. 31, 2010
Revenues            
Premiums earned/life policy revenue $ 1,109 $ 1,047 $ 2,196 $ 2,077    
Net investment income 113 113 221 218    
Net realized investment gains (losses) (107) 39 189 188    
Net impairment losses recognized in earnings 0 0 0 0    
Equity in earnings of limited partnerships 37 38 58 110    
Service agreement and other revenue 8 8 16 17    
Total revenues 1,160 1,245 2,680 2,610    
Benefits and expenses            
Insurance losses and loss expenses 943 1,170 1,659 1,876    
Policy acquisition and underwriting expenses 287 249 557 496    
Total benefits and expenses 1,230 1,419 2,216 2,372    
Income (loss) before income taxes (70) (174) 464 238    
Provision for income taxes (32) (67) 148 71    
Net (loss) income (38) (107) 316 167 268  
Management operations
           
Segment information            
Indemnity's maximum management fee rate as a percent of premiums written and assumed by the Exchange     25.00%      
Reduction in commission expense due to adjustment 6.0   6.0   0.5 0.7
Indemnity commission expense adjustment This amount represents the reimbursement by the North Carolina Reinsurance Facility (NCRF) for commissions Indemnity paid to agents on the surcharges collected on behalf of the NCRF in prior periods. This amount was incorrectly recorded as a benefit to the Exchange in prior periods.          
Revenues            
Management fee revenue 308 285 577 536    
Service agreement and other revenue 8 9 15 17    
Total revenues 316 294 592 553    
Benefits and expenses            
Cost of management operations 257 230 487 441    
Total benefits and expenses 257 230 487 441    
Income (loss) before income taxes 59 64 105 112    
Provision for income taxes 21 22 37 39    
Net (loss) income 38 42 68 73    
Property and casualty insurance operations
           
Revenues            
Premiums earned/life policy revenue 1,092 1,030 2,161 2,044    
Total revenues 1,092 1,030 2,161 2,044    
Benefits and expenses            
Insurance losses and loss expenses 919 1,147 1,611 1,830    
Policy acquisition and underwriting expenses 332 298 634 580    
Total benefits and expenses 1,251 1,445 2,245 2,410    
Income (loss) before income taxes (159) (415) (84) (366)    
Provision for income taxes (55) (145) (29) (128)    
Net (loss) income (104) (270) (55) (238)    
Life insurance operations
           
Revenues            
Premiums earned/life policy revenue 18 18 36 34    
Service agreement and other revenue 0 (1) 1 0    
Total revenues 18 17 37 34    
Benefits and expenses            
Insurance losses and loss expenses 25 25 50 49    
Policy acquisition and underwriting expenses 8 7 17 14    
Total benefits and expenses 33 32 67 63    
Income (loss) before income taxes (15) (15) (30) (29)    
Provision for income taxes (6) (5) (11) (10)    
Net (loss) income (9) (10) (19) (19)    
Investment operations
           
Revenues            
Net investment income 115 115 226 223    
Net realized investment gains (losses) (107) 39 189 188    
Net impairment losses recognized in earnings 0 0 0 0    
Equity in earnings of limited partnerships 37 38 58 110    
Total revenues 45 192 473 521    
Benefits and expenses            
Income (loss) before income taxes 45 192 473 521    
Provision for income taxes 8 61 151 170    
Net (loss) income 37 131 322 351    
Eliminations
           
Revenues            
Premiums earned/life policy revenue (1) (1) (1) (1)    
Net investment income (2) (2) (5) (5)    
Management fee revenue (308) (285) (577) (536)    
Total revenues (311) (288) (583) (542)    
Benefits and expenses            
Cost of management operations (257) (230) (487) (441)    
Insurance losses and loss expenses (1) (2) (2) (3)    
Policy acquisition and underwriting expenses (53) (56) (94) (98)    
Total benefits and expenses (311) (288) (583) (542)    
Erie Family Life Insurance Company ("EFL") | Life insurance operations
           
Segment information            
Total investment revenues 28 27 52 54    
Benefits and expenses            
Income (loss) before income taxes $ 13 $ 12 $ 22 $ 25