XML 47 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Revenues      
Premiums earned/life policy revenue $ 1,288 $ 1,175  
Net investment income 109 103  
Net realized investment gains 56 249  
Net impairment losses recognized in earnings 0 0  
Equity in earnings of limited partnerships 50 36  
Service agreement and other revenue 8 8  
Total revenues 1,511 1,571  
Benefits and expenses      
Insurance losses and loss expenses 1,034 842  
Policy acquisition and underwriting expenses 321 293  
Total benefits and expenses 1,355 1,135  
Income (loss) from operations before income taxes and noncontrolling interest 156 436  
Provision for income taxes 47 146  
Net income (loss) 109 290 1,048
Indemnity
     
Revenues      
Net investment income 4 4  
Net realized investment gains 1 0  
Equity in earnings of limited partnerships 6 3  
Benefits and expenses      
Income (loss) from operations before income taxes and noncontrolling interest 69 56  
Provision for income taxes 23 19  
Net income (loss) 46   163
Exchange
     
Revenues      
Net investment income 105 99  
Net realized investment gains 55 249  
Equity in earnings of limited partnerships 44 33  
Benefits and expenses      
Net income (loss) 63   885
Management operations | Indemnity
     
Segment information      
Indemnity's maximum management fee rate as a percent of premiums written and assumed by the Exchange (as a percent) 25.00%    
Revenues      
Management fee revenue 319 296  
Service agreement and other revenue 7 7  
Total revenues 326 303  
Benefits and expenses      
Cost of management operations 268 254  
Income (loss) from operations before income taxes and noncontrolling interest 58 49  
Investment operations | Indemnity
     
Revenues      
Net investment income 4 4  
Net realized investment gains 1 0  
Net impairment losses recognized in earnings 0 0  
Equity in earnings of limited partnerships 6 3  
Benefits and expenses      
Income (loss) from operations before income taxes and noncontrolling interest 11 7  
Operating segment | Management operations
     
Revenues      
Management fee revenue 319 296  
Service agreement and other revenue 7 7  
Total revenues 326 303  
Benefits and expenses      
Cost of management operations 268 254  
Total benefits and expenses 268 254  
Income (loss) from operations before income taxes and noncontrolling interest 58 49  
Provision for income taxes 20 17  
Net income (loss) 38 32  
Operating segment | Management operations | Indemnity
     
Segment information      
Indemnity's maximum management fee rate as a percent of premiums written and assumed by the Exchange (as a percent) 25.00%    
Operating segment | Property and casualty insurance operations
     
Revenues      
Premiums earned/life policy revenue 1,268 1,156  
Total revenues 1,268 1,156  
Benefits and expenses      
Insurance losses and loss expenses 1,007 817  
Policy acquisition and underwriting expenses 365 328  
Total benefits and expenses 1,372 1,145  
Income (loss) from operations before income taxes and noncontrolling interest (104) 11  
Provision for income taxes (36) 4  
Net income (loss) (68) 7  
Operating segment | Life insurance operations
     
Revenues      
Premiums earned/life policy revenue 20 19  
Service agreement and other revenue 1 1  
Total revenues 21 20  
Benefits and expenses      
Insurance losses and loss expenses 28 26  
Policy acquisition and underwriting expenses 9 9  
Total benefits and expenses 37 35  
Income (loss) from operations before income taxes and noncontrolling interest (16) (15)  
Provision for income taxes (6) (5)  
Net income (loss) (10) (10)  
Operating segment | Life insurance operations | Erie Family Life Insurance Company (EFL)
     
Segment information      
Total investment revenues 29 26  
Benefits and expenses      
Income (loss) from operations before income taxes and noncontrolling interest 13 11  
Operating segment | Investment operations
     
Revenues      
Net investment income 112 106  
Net realized investment gains 56 249  
Net impairment losses recognized in earnings 0 0  
Equity in earnings of limited partnerships 50 36  
Total revenues 218 391  
Benefits and expenses      
Income (loss) from operations before income taxes and noncontrolling interest 218 391  
Provision for income taxes 69 130  
Net income (loss) 149 261  
Eliminations
     
Revenues      
Premiums earned/life policy revenue 0 0  
Net investment income (3) (3)  
Management fee revenue (319) (296)  
Total revenues (322) (299)  
Benefits and expenses      
Cost of management operations (268) (254)  
Insurance losses and loss expenses (1) (1)  
Policy acquisition and underwriting expenses (53) (44)  
Total benefits and expenses $ (322) $ (299)