Erie Indemnity Company Reports Election of Directors

News provided by

Apr 26, 2017, 15:30 ET

ERIE, Pa., April 26, 2017 /PRNewswire/ -- The shareholders of Erie Indemnity Company (NASDAQ: ERIE) at their annual meeting on April 25, 2017 elected 13 Directors to the Company's Board of Directors for a one-year term. Those elected include 11 incumbent Directors and two new Directors. The persons elected to the Board (and their tenure on the Board) are:

J. Ralph Borneman Jr., President and Chief Executive Officer and Chairman of the Board of Body-Borneman Insurance & Financial Services, LLC. (Director since 1992)
Eugene C. Connell, Independent Investor and Advisor (newly elected Director)
LuAnn Datesh, Esq., a director and member of the law firm of Sherrard, German & Kelly, P.C. (Director since 2016)
Jonathan Hirt Hagen, Co-trustee of H.O. Hirt Trusts; Vice Chairman of the Board of Erie Indemnity Company; and Vice Chairman, Custom Group Industries (Director since 2005)
Thomas B. Hagen, Chairman of the Board of Erie Insurance Group; Chairman/Owner of Custom Group Industries; and general partner of the Hagen Family Limited Partnership (Director since 2007; previous Board service 1979-1998)
C. Scott Hartz, Chairman, TaaSera, Inc.; Chief Executive Officer, Hartz Group (Director since 2003)
Brian A. Hudson, Sr., Executive Director and Chief Executive Officer, Pennsylvania Housing Finance Agency (newly elected Director)
Dr. Claude C. Lilly III, Retired President, Presbyterian College (Director since 2000)
George R. Lucore, Managing Director of PAFLA Properties (Director since 2016)
Thomas W. Palmer, Member of the law firm of Marshall & Melhorn, LLC (Director since 2006)
Martin P. Sheffield, Owner, Sheffield Consulting, LLC, insurance consultants (Director since 2010)
Richard L. Stover, Retired Managing Principal, Birchmere Capital, L.P., private equity fund (Director since 2010)
Elizabeth Hirt Vorsheck, Co-trustee of H.O. Hirt Trusts (Director since 2007)

In other business, the shareholders approved, on a nonbinding advisory basis, the compensation of the Company's named executive officers as disclosed in the Company's 2017 Information Statement, and selected, on a nonbinding advisory basis, "every three years" as the preferred frequency for future advisory votes on executive compensation.

According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 10th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 16th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has more than 5 million policies in force and operates in 12 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 company, a Barron's 500 company and has been recognized by Forbes as one of America's 50 Most Trustworthy Financial Companies.

News releases and more information about Erie Insurance Group are available at www.erieinsurance.com.

SOURCE Erie Indemnity Company