Erie Indemnity Approves Management Fee Rate, Dividend Increase

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At its regular meeting held December 6, 2011, the Board of Directors of Erie Indemnity Company
ERIE
set the management fee rate charged to Erie Insurance Exchange and approved increases in shareholders' dividends. The Board agreed to maintain the current management fee rate paid Erie Indemnity Company by Erie Insurance Exchange at 25 percent, effective January 1, 2012. The management fee rate was 25 percent for the period January 1 through December 31, 2011. The Board has the authority under the agreement with the subscribers (policyholders) at Erie Insurance Exchange to set the management fee rate at its discretion; however, the maximum fee rate permissible by the agreement is 25 percent. This action was taken based on the Board's
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Posted In: NewsDividendsManagement
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