Erie Indemnity Company (ERIE) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 28, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the Erie Indemnity Company First Quarter 2023 Earnings Conference Call. This call was pre-recorded, and there will be no question-and-answer session following the recording.

Now I'd like to introduce your host of the call today, Vice President, Investor Relations, Scott Beilharz. Your line is open.

Scott Beilharz

Thank you, and welcome, everyone. We appreciate you joining us for this recorded discussion about our first quarter results. This recording will include remarks from Tim 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 may cause such differences, please see the safe harbor statements in our Form 10-Q filing with the SEC dated April 27, 2023, and in the related press release.

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

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

Timothy NeCastro

Thanks, Scott, and thanks to all of you for your interest in Erie's performance for the first quarter of 2023. Last week on April 20, we marked the 98th anniversary of our company's founding. And a few days later, held our annual meeting with shareholders. For the first time in 3 years, we were able to hold this meeting in person, and we did so just a block from our home office, at the historic Warner Theater in Downtown Erie, Pennsylvania.

Earlier this month, we also welcomed the final groups of employees returning to on-site work. This move marked the end of our pandemic-driven working arrangements, with the COVID-19 public health emergency set to expire in just a few weeks. We look forward to moving fully into a new mode of interaction and engagement as we embrace hybrid work as a model for the majority of our workforce.