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Segment Information (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of components of the Consolidated Statements of Operations by reportable business segment

	Erie Insurance Group
(in millions)	For the three months ended September 30, 2012
	Management operations	Property and casualty insurance operations		Life insurance operations		Investment operations	Eliminations		Consolidated
Premiums earned/life policy revenue		$1,118		$19					$1,137
Net investment income						$108	$ (3	)	105
Net realized investment gains						169			169
Net impairment losses recognized in earnings						0			0
Equity in earnings of limited partnerships						41			41
Management fee revenue	$305						(305	)	–
Service agreement and other revenue	8			0					8
Total revenues	313	1,118		19		318	(308	)	1,460
Cost of management operations	247						(247	)	–
Insurance losses and loss expenses		890		24			(2	)	912
Policy acquisition and underwriting expenses		329		8			(59	)	278
Total benefits and expenses	247	1,219		32		–	(308	)	1,190
Income (loss) before income taxes	66	(101	)	(13	)	318	–		270
Provision for income taxes	23	(36	)	(4	)	103	–		86
Net income (loss)	$ 43	$ (65	)	$ (9	)	$215	$ –		$ 184

	Erie Insurance Group
(in millions)	For the three months ended September 30, 2011
	Management operations	Property and casualty insurance operations		Life insurance operations		Investment operations		Eliminations		Consolidated
Premiums earned/life policy revenue		$1,045		$ 16						$1,061
Net investment income						$ 111		$ (3	)	108
Net realized investment losses						(422	)			(422	)
Net impairment losses recognized in earnings						0				0
Equity in earnings of limited partnerships						40				40
Management fee revenue	$280							(280	)	–
Service agreement and other revenue	8			1						9
Total revenues (losses)	288	1,045		17		(271	)	(283	)	796
Cost of management operations	226							(226	)	–
Insurance losses and loss expenses		823		26				(1	)	848
Policy acquisition and underwriting expense		302		7				(56	)	253
Total benefits and expenses	226	1,125		33		–		(283	)	1,101
Income (loss) before income taxes	62	(80	)	(16	)	(271	)	–		(305	)
Provision for income taxes	22	(28	)	(6	)	(113	)	–		(125	)
Net income (loss)	$ 40	$ (52	)	$(10	)	$(158	)	$ –		$ (180	)

	Erie Insurance Group
(in millions)	For the nine months ended September 30, 2012
	Management operations	Property and casualty insurance operations		Life insurance operations		Investment operations	Eliminations		Consolidated
Premiums earned/life policy revenue		$3,279		$ 55			$ (1	)	$3,333
Net investment income						$334	(8	)	326
Net realized investment gains						358			358
Net impairment losses recognized in earnings						0			0
Equity in earnings of limited partnerships						99			99
Management fee revenue	$882						(882	)	–
Service agreement and other revenue	23			1					24
Total revenues	905	3,279		56		791	(891	)	4,140
Cost of management operations	734						(734	)	–
Insurance losses and loss expenses		2,501		74			(4	)	2,571
Policy acquisition and underwriting expenses		963		25			(153	)	835
Total benefits and expenses	734	3,464		99		–	(891	)	3,406
Income (loss) before income taxes	171	(185	)	(43	)	791	–		734
Provision for income taxes	60	(65	)	(15	)	254	–		234
Net income (loss)	$111	$ (120	)	$(28	)	$537	$ –		$ 500

	Erie Insurance Group
(in millions)	For the nine months ended September 30, 2011
	Management operations	Property and casualty insurance operations		Life insurance operations		Investment operations		Eliminations		Consolidated
Premiums earned/life policy revenue		$3,089		$ 50				$ (1	)	$3,138
Net investment income						$ 334		(8	)	326
Net realized investment losses						(234	)			(234	)
Net impairment losses recognized in earnings						0				0
Equity in earnings of limited partnerships						150				150
Management fee revenue	$816							(816	)	–
Service agreement and other revenue	25			1						26
Total revenues	841	3,089		51		250		(825	)	3,406
Cost of management operations	667							(667	)	–
Insurance losses and loss expenses		2,653		75				(4	)	2,724
Policy acquisition and underwriting expenses		882		21				(154	)	749
Total benefits and expenses	667	3,535		96		–		(825	)	3,473
Income (loss) before income taxes	174	(446	)	(45	)	250		–		(67	)
Provision for income taxes	61	(156	)	(16	)	57		–		(54	)
Net income (loss)	$113	$ (290	)	$(29	)	$ 193		$ –		$ (13	)

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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