Exhibit 99.2

ERIE INDEMNITY COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(dollars in millions, except per share data)

	Three			Three			Six			Six
	months			months			months			months
	ended			ended			ended			ended
	June 30,			June 30,			June 30,			June 30,
Revenues	2010			2009*			2010			2009*
Premiums earned	$	989		$	964		$	1,967		$	1,921
Net investment income		108			105			212			222
Net realized investment (losses) gains		(213	)		208			(88	)		53
Net impairment losses recognized in earnings		(4	)		(12	)		(6	)		(83	)
Equity in earnings (losses) of limited partnerships		27			(126	)		30			(287	)
Other income		9			10			17			18
Total revenues		916			1,149			2,132			1,844
Benefits and expenses
Insurance losses and loss expenses		737			660			1,498			1,463
Policy acquisition and underwriting expenses		230			231			457			463
Total benefits and expenses		967			891			1,955			1,926
(Loss) income from operations before income taxes
and noncontrolling interests		(51	)		258			177			(82	)
(Benefit) provision for income taxes		(20	)		(13	)		46			(102	)
Net (loss) income		(31	)		271			131			20
Less: Net (loss) income attributable to noncontrolling
Interest in consolidated entity – Exchange		(80	)		238			35			(24	)
Net income attributable to Indemnity	$	49		$	33		$	96		$	44
Earnings Per Share
Net income attributable to Indemnity per share
Class A common stock – basic	$	0.96		$	0.63		$	1.87		$	0.85
Class A common stock – diluted	$	0.86		$	0.57		$	1.68		$	0.76
Class B common stock – basic and diluted	$	138.21		$	93.19		$	271.03		$	127.98
Weighted average shares outstanding attributable to
Indemnity – Basic
Class A common stock		51,013,358			51,240,693			51,099,071			51,255,385
Class B common stock		2,546			2,551			2,546			2,551
Weighted average shares outstanding attributable to
Indemnity – Diluted
Class A common stock		57,146,855			57,390,302			57,231,936			57,404,994
Class B common stock		2,546			2,551			2,546			2,551
Dividends declared per share
Class A common stock	$	0.48		$	0.45		$	0.96		$	0.90
Class B common stock	$	72.00		$	67.50		$	144.00		$	135.00

• The 2009 results have been adjusted to reflect the retrospective adoption of new accounting guidance in ASC 810, Consolidation.

ERIE INDEMNITY COMPANY

RESULTS OF THE GROUP’S OPERATIONS BY INTEREST (Unaudited)

(in millions)

																			Eliminations of
	Indemnity			shareholder						Noncontrolling interest									related party
	interest									(Exchange)									transactions						Erie Insurance Group
				Three months ended									Three months ended						Three months ended						Three months ended
				June 30,									June 30,						June 30,						June 30,
	Percent			2010			2009*			Percent			2010			2009			2010			2009			2010			2009*
Management operations
Management fee revenue, net		100.0	%	$	270		$	259					$	0		$	0		$	(270	)	$	(259	)	$	0		$	0
Service agreement revenue		100.0	%		9			9						0			0			0			0			9			9
Total revenue from management operations					279			268						0			0			(270	)		(259	)		9			9
Cost of management operations		100.0	%		217			208						0			0			(217	)		(208	)		0			0
Income from management operations before taxes					62			60						0			0			(53	)		(51	)		9			9
Property and casualty operations
Premiums earned		5.5	%		53			52			94.5	%		921			895			0			0			974			947
Losses and loss expenses		5.5	%		40			35			94.5	%		677			603			(2	)		(2	)		715			636
Underwriting expenses		5.5	%		15			15			94.5	%		261			259			(54	)		(52	)		222			222
(Loss) income from property and casualty operations before taxes					(2	)		2						(17	)		33			56			54			37			89
Life insurance operations
Total revenue		21.6	%		9			8			78.4	%		32			31			(1	)		(1	)		40			38
Total benefits and expenses		21.6	%		6			7			78.4	%		24			26			0			0			30			33
Income from life operations before taxes					3			1						8			5			(1	)		(1	)		10			5
Investment operations
Investment income, net of expenses					9			9						78			75			(2	)		(2	)		85			82
Net realized (losses) gains on investments					(3	)		4						(213	)		203			0			0			(216	)		207
Impairment losses recognized in earnings					(1	)		(2	)					(1	)		(8	)		0			0			(2	)		(10	)
Equity in earnings (losses) of limited partnerships					6			(27	)					20			(97	)		0			0			26			(124	)
Total investment income (loss) before tax					11			(16	)					(116	)		173			(2	)		(2	)		(107	)		155
Income (loss) from operations before income taxes and noncontrolling interests					74			47						(125	)		211			0			0			(51	)		258
Provision for income taxes					25			14						(45	)		(27	)		0			0			(20	)		(13	)
Net income (loss)				$	49		$	33					$	(80	)	$	238		$	0		$	0		$	(31	)	$	271

• The 2009 results have been adjusted to reflect the retrospective adoption of new accounting guidance in ASC 810, Consolidation.

ERIE INDEMNITY COMPANY

RESULTS OF THE GROUP’S OPERATIONS BY INTEREST (Unaudited)

(in millions)

																			Eliminations of
	Indemnity			shareholder						Noncontrolling interest									related party
	interest									(Exchange)									transactions						Erie Insurance Group
																			Six months
				Six months ended									Six months ended						ended						Six months ended
				June 30,									June 30,						June 30,						June 30,
	Percent			2010			2009*			Percent			2010			2009			2010			2009			2010			2009*
Management operations
Management fee revenue, net		100.0	%	$	507		$	489					$	0		$	0		$	(507	)	$	(489	)	$	0		$	0
Service agreement revenue		100.0	%		17			17						0			0			0			0			17			17
Total revenue from management operations					524			506						0			0			(507	)		(489	)		17			17
Cost of management operations		100.0	%		409			401						0			0			(409	)		(401	)		0			0
Income from management operations before taxes					115			105						0			0			(98	)		(88	)		17			17
Property and casualty operations
Premiums earned		5.5	%		106			104			94.5	%		1,830			1,784			0			0			1,936			1,888
Losses and loss expenses		5.5	%		80			78			94.5	%		1,375			1,342			(3	)		(3	)		1,452			1,417
Underwriting expenses		5.5	%		30			30			94.5	%		511			509			(100	)		(90	)		441			449
(Loss) income from property and casualty operations before taxes					(4	)		(4	)					(56	)		(67	)		103			93			43			22
Life insurance operations
Total revenue		21.6	%		18			13			78.4	%		66			48			(1	)		(1	)		83			60
Total benefits and expenses		21.6	%		13			13			78.4	%		50			48			(1	)		(1	)		62			60
Income from life operations before taxes					5			0						16			0			0			0			21			0
Investment operations
Investment income, net of expenses					18			22						153			158			(5	)		(5	)		166			175
Net realized gains (losses) on investments					2			0						(98	)		54			0			0			(96	)		54
Impairment losses recognized in earnings					(1	)		(7	)					(3	)		(61	)		0			0			(4	)		(68	)
Equity in earnings (losses) of limited partnerships					6			(55	)					24			(227	)		0			0			30			(282	)
Total investment income (loss) before tax					25			(40	)					76			(76	)		(5	)		(5	)		96			(121	)
Income (loss) from operations before income taxes and noncontrolling interests					141			61						36			(143	)		0			0			177			(82	)
Provision for income taxes					45			17						1			(119	)		0			0			46			(102	)
Net income (loss)				$	96		$	44					$	35		$	(24	)	$	0		$	0		$	131		$	20

• The 2009 results have been adjusted to reflect the retrospective adoption of new accounting guidance in ASC 810, Consolidation.

ERIE INDEMNITY COMPANY

RECONCILIATION OF OPERATING INCOME TO NET INCOME

Definition of non-GAAP and operating measures

We believe that investors’ understanding of our performance related to the Indemnity shareholder interest is enhanced by the disclosure of the following non-GAAP financial measure. Our method of calculating this measure may differ from those used by other companies and therefore comparability may be limited.

Operating income is net income excluding realized capital gains and losses, impairment losses and related federal income taxes. Our common stock portfolio is measured at fair value. As such, changes in fair value related to common stocks are reported in earnings. These unrealized gains or losses are included in the net realized gains and losses on investments in our Consolidated Statements of Operations that is used to calculate operating income. Equity in earnings or losses of EFL and equity in earnings or losses of limited partnerships are included in the calculation of operating income. Equity in earnings or losses of limited partnerships includes the respective investment’s realized capital gains and losses, as well as unrealized gains and losses.

Net income is the generally accepted accounting principle (GAAP) measure that is most directly comparable to operating income. We use operating income to evaluate the results of operations. It reveals trends in our management services, insurance underwriting and investment operations that may be obscured by the net effects of realized capital gains and losses including impairment losses. Realized capital gains and losses including impairment losses, may vary significantly between periods and are generally driven by business decisions and economic developments such as capital market conditions, the timing of which is unrelated to our management services and insurance underwriting processes. We believe it is useful for investors to evaluate these components separately and in the aggregate when reviewing our performance. We are aware that the price to earnings multiple commonly used by investors as a forward-looking valuation technique uses operating income as the denominator. Operating income should not be considered as a substitute for net income and does not reflect our overall profitability.

The following table reconciles operating income and net income for Indemnity shareholder interest for the three and six months ended June 30:

	Indemnity Shareholder interest
	Three			Three			Six		Six
	months ended			months ended			months ended		months ended
	June 30,			June 30,			June 30,		June 30,
	2010			2009			2010		2009
(in millions, except per share data)
	(Unaudited)						(Unaudited)
Operating income attributable to Indemnity	$	51		$	32		$	95	$	49
Net realized (losses) gains and impairments on investments		(4	)		2			1		(7	)
Income tax benefit (expense)		2			(1	)		0		2
Realized (losses) gains and impairments, net of income taxes		(2	)		1			1		(5	)
Net income attributable to Indemnity	$	49		$	33		$	96	$	44
	Three			Three			Six		Six
	months ended			months ended			months ended		months ended
	June 30,			June 30,			June 30,		June 30,
		2010			2009			2010		2009
	(Unaudited)						(Unaudited)
Per Indemnity Class A common share – diluted:
Operating income attributable to Indemnity	$	0.89		$	0.56		$	1.66	$	0.85
Net realized (losses) gains and impairments on investments		(0.07	)		0.02			0.02		(0.13	)
Income tax benefit (expense)		0.04			(0.01	)		0.00		0.04
Realized (losses) gains and impairments, net of income taxes		(0.03	)		0.01			0.02		(0.09	)
Net income attributable to Indemnity	$	0.86		$	0.57		$	1.68	$	0.76

ERIE INDEMNITY COMPANY

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(dollars in millions, except per share data)

	June 30,		December 31,
	2010
	(Unaudited)			2009
Assets
Investments-Indemnity
Available-for-sale securities, at fair value:
Fixed maturities	$	671	$	664
Equity securities		45		38
Trading securities, at fair value		40		42
Limited partnerships		234		235
Other invested assets		1		1
Investments-Exchange
Available-for-sale securities, at fair value:
Fixed maturities		6,789		6,517
Equity securities		523		472
Trading securities, at fair value		1,712		1,835
Limited partnerships		1,123		1,116
Other invested assets		19		20
Total investments		11,157		10,940
Cash and cash equivalents (Exchange portion of $189 and $158, respectively)		223		234
Premiums receivable from policyholders (Exchange portion of $770 and $715, respectively)		977		906
Reinsurance recoverable (Exchange portion of $198 and $212, respectively)		201		215
Deferred income taxes (Exchange portion of $72 and $75, respectively)		101		116
Deferred acquisition costs (Exchange portion of $417 and $416, respectively)		473		467
Other assets (Exchange portion of $322 and $306, respectively)		438		409
Total assets	$	13,570	$	13,287
Liabilities and shareholders’ equity
Liabilities
Indemnity liabilities
Losses and loss expense reserves	$	739	$	752
Unearned premiums		345		325
Other liabilities		350		387
Exchange liabilities
Losses and loss expense reserves		2,883		2,846
Life policy and deposit contract reserves		1,574		1,540
Unearned premiums		1,748		1,656
Other liabilities		62		56
Total liabilities		7,701		7,562
Indemnity’s shareholders’ equity		940		902
Noncontrolling interest in consolidated entity – Exchange		4,929		4,823
Total equity		5,869		5,725
Total liabilities, shareholders’ equity and noncontrolling interest	$	13,570	$	13,287