ERIE - Erie Indemnity Co.: Buy The Dip In This Misunderstood Dividend Aristocrat
Erie Indemnity Company (NASDAQ:ERIE) with a market cap of $9.3 billion is classified as an insurance broker although the company doesn't technically sell insurance products. Investors here are buying the management arm and service provider for an affiliated "reciprocal-insurer exchange." This article goes into how that model works but suffice it to say that ERIE simply collects fees for handling all the claims and paperwork without carrying underwriting risks like a typical insurance company. We highlight that ERIE, publicly traded since 1995, is now a 'dividend aristocrat' with 27 years of consecutive rate