Erie Indemnity Company (ERIE) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

April 29, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to Erie Indemnity Company First Quarter 2022 Earnings Conference Call. This call was prerecorded and there will be no question-and-answer session following the recording.

Now, I'd like to introduce your host for the call, Vice President of Investor Relations, Scott Beilharz.

Scott Beilharz

Thank you and welcome everyone. We appreciate you joining us for this recorded discussion about our first quarter results. This recording includes remarks from Timothy NeCastro, President and Chief Executive Officer, and Greg Gutting, Executive Vice President and Chief Financial Officer.

Our earnings release and financial supplement were issued yesterday afternoon after the market closed and are available within the Investor Relations section of our website erieinsurance.com.

Before we begin, I would like to remind everyone that today's discussion may contain forward-looking remarks that reflect the company's current views about future events. These remarks are based on assumptions subject to known and unexpected risks and uncertainties. These risks and uncertainties may cause results to differ materially from those described in these remarks.

For information on important factors that may cause such differences, please see the Safe Harbor statements in our Form 10-Q filing with the SEC dated April 28th, 2022 and the related press release.

This prerecorded call is the property of Erie Indemnity Company. It may not be reproduced or rebroadcast by any other party without the prior written consent of Erie Indemnity Company.

With that, we will move on to Tim's remarks. Tim?

Timothy NeCastro

Thanks Scott and good morning, everyone. Earlier this week, we held our Annual Meeting of Shareholders. We broadcast the meeting from the new Thomas B. Hagen building, which as I mentioned on previous calls, was dedicated last September. This beautiful building has continued to sit mostly empty since that time as the majority of our employees have continued to work remotely.

However, just in the past couple of weeks, that started to change. We celebrated Erie's 97th anniversary on April 20th by welcoming nearly 200 employees back to our home office campus. They joined the essential employees who have been coming into the office to maintain operations since the beginning of the pandemic.

This is the beginning of a broader phase-in return to our offices that will be taking place over the next several months. We're returning with greater flexibility than ever before. But we're taking a slow and steady approach to ensure the spirit of the organization and levels of service are upheld as the pandemic continues its transition to new variants in a world anxious to return to living fully.