Erie Indemnity Company

Good morning, and welcome to the Erie Indemnity Company second quarter 2024 earnings conference call. This call is prerecorded, and there will be no question and answer session following the recording. Now, I'd like to introduce your host for the call, Vice President of Investor Relations, Scott Beale-Harris. Thank you, and welcome, everyone.

We appreciate you joining us for this recorded discussion about our second quarter results. This recording will include remarks from Tim McCastro, President and Chief Executive Officer, and Julie Kalkowski, Executive Vice President and Chief Financial Officer. Our earnings release and financial supplement were issued yesterday afternoon after the market closed and are available within the Investor Relations section of our website, ErieInsurance.com. Before we begin, I would like to remind everyone that today's discussion may contain forward-looking remarks that reflect the company's current view about future events. These remarks are based on assumptions subject to known and unexpected risks and uncertainties. These risks and uncertainties may cause results different materially from those described in these remarks. For information on important factors that may cause these differences, please see the Safe Harbor Statements in our Form 10-Q filing with the SEC filed yesterday and in the related press release. This pre-recorded call is the property of your indemnity company. It may not be reproduced or rebroadcast by any other party without the prior written consent of your identity company. With that, we will move on to Tim DeMarks. Tim?

Thanks, Scott, and thanks to all of you for taking time to learn more about Erie's performance in the second quarter of 2024. As we've reached the halfway point of our 99th year in business, I'm excited to share that we also reached a significant milestone for Erie Insurance Exchange, 7 million policies in force. Our last milestone of 6 million policies in force was reached in 2021, and adding 1 million policies to our book of business in just three years is no small feat. To give you a sense of scale, it took our company more than 60 years to reach our first million and just three to get from 6 to 7 million. So this recent milestone is no doubt a testament to our hardworking agency force and dedicated sales and underwriting teams. Our impressive growth in customer retention, which stands at just over 91% for personal and commercial lines combined, underscore the strong value proposition we offer. Putting service above all else is always our top priority and customers notice. That's why we hold true to the principles that have shaped our success for almost 100 years while continuously adapting for what's ahead. I'm also pleased to share that Erie ranked number 376 on the 2024 Fortune 500 list of largest American corporations. We moved up 38 spots from last year's ranking of 414. The 2024 list marks our 21st year in the Fortune 500, alongside some of the most well-known and successful companies in the country. Here to share some insights into our financial performance for the second quarter is Chief Financial Officer Julie Pelkowski. Julie?