Erie Indemnity Q2 net income $80.1M ($1.53 EPS); dividend raised to $1.11/share

ERIE INDEMNITY CO

Net income $80.1M ($1.53 diluted EPS) vs $79.0M ($1.51) in Q2 2021; operating income before taxes up 22.3% to $104M.
Management fee revenue from policy issuance and renewal services rose 8.4% to $544.6M, driven by premium growth.
Investment losses of $2.1M in Q2 2022 compared to income of $16.4M in Q2 2021, due to limited partnership losses and unrealized losses.
Board declared quarterly dividend of $1.11 per Class A share, payable Oct 20, 2022, versus $1.035 in Q2 2021.
First half net income $148.8M ($2.84 EPS) vs $152.6M ($2.92 EPS) in 2021.

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