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Segment Information (Tables)
3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Schedule of components of the Consolidated Statements of Operations by reportable business segment
The following tables summarize the components of the Consolidated Statements of Operations by reportable business segment:
 
 
 
Erie Insurance Group
(in millions)
 
Three months ended March 31, 2013
 
 
Management
operations
 
Property
and casualty
insurance
operations
 
Life
insurance
operations
 
Investment
operations
 
Eliminations
 
Consolidated
Premiums earned/life policy revenue
 
 
 
$
1,156

 
$
19

 
 
 
$
0

 
$
1,175

Net investment income
 
 
 
 
 
 
 
$
106

 
(3
)
 
103

Net realized investment gains
 
 
 
 
 
 
 
249

 
 
 
249

Net impairment losses recognized in earnings
 
 
 
 
 
 
 
0

 
 
 
0

Equity in earnings of limited partnerships
 
 
 
 
 
 
 
36

 
 
 
36

Management fee revenue
 
$
296

 
 
 
 
 
 
 
(296
)
 

Service agreement and other revenue
 
7

 
 
 
1

 
 
 
 
 
8

Total revenues
 
303

 
1,156

 
20

 
391

 
(299
)
 
1,571

Cost of management operations
 
254

 
 
 
 
 
 
 
(254
)
 

Insurance losses and loss expenses
 
 
 
817

 
26

 
 
 
(1
)
 
842

Policy acquisition and underwriting expenses
 
 
 
328

 
9

 
 
 
(44
)
 
293

Total benefits and expenses
 
254

 
1,145

 
35

 

 
(299
)
 
1,135

Income (loss) before income taxes
 
49

 
11

 
(15
)
 
391

 

 
436

Provision for income taxes
 
17

 
4

 
(5
)
 
130

 

 
146

Net income (loss)
 
$
32

 
$
7

 
$
(10
)
 
$
261

 

 
$
290

 
 
 
 
Erie Insurance Group
(in millions)
 
Three months ended March 31, 2012
 
 
Management
operations
 
Property
and casualty
insurance
operations
 
Life
insurance
operations
 
Investment
operations
 
Eliminations
 
Consolidated
Premiums earned/life policy revenue
 
 
 
$
1,069

 
$
18

 
 
 
$
0

 
$
1,087

Net investment income
 
 
 
 
 
 
 
$
111

 
(3
)
 
108

Net realized investment gains
 
 
 
 
 
 
 
296

 
 
 
296

Net impairment losses recognized in earnings
 
 
 
 
 
 
 
0

 
 
 
0

Equity in earnings of limited partnerships
 
 
 
 
 
 
 
21

 
 
 
21

Management fee revenue
 
$
269

 
 
 
 
 
 
 
(269
)
 

Service agreement and other revenue
 
7

 
 
 
1

 
 
 
 
 
8

Total revenues
 
276

 
1,069

 
19

 
428

 
(272
)
 
1,520

Cost of management operations
 
230

 
 
 
 
 
 
 
(230
)
 

Insurance losses and loss expenses
 
 
 
692

 
25

 
 
 
(1
)
 
716

Policy acquisition and underwriting expense
 
 
 
302

 
9

 
 
 
(41
)
 
270

Total benefits and expenses
 
230

 
994

 
34

 

 
(272
)
 
986

Income (loss) before income taxes
 
46

 
75

 
(15
)
 
428

 

 
534

Provision for income taxes
 
16

 
26

 
(5
)
 
143

 

 
180

Net income (loss)
 
$
30

 
$
49

 
$
(10
)
 
$
285

 
$

 
$
354