Erie Indemnity Company

Good morning and welcome to the Erie and Diminity Company, the second quarter 2025 earnings conference call. This call was pre-recorded 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 Beilharts.

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 MacCastro, Vice President and Chief Executive Officer, and Julie Tokowsky, 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 poor looking remarks that reflect the company's current views about future events. These remarks are based on assumptions, subjects of known and unexpected risks and uncertainties. These risks and uncertainties may cause results to differ materially from those described in these remarks. For information on important factors that may cause these differences, please see the safe harbor statements and our form 10 key 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 indemnity company. With that, we move on to Tim's remarks. Tim?

Thanks, Scott. And thank you all for listening in today. Before we get into our financial update for the second quarter, I'd like to spend a few minutes sharing some insights into the information security event our company recently experienced. On June 7th, our IT team identified unauthorized network activity. Consistent with our incidence response plans, the team took immediate action and initiated a proactive network outage and system shutdown. This was a necessary step to protect our systems and data. And thankfully, it was effective. After a thorough forensics investigation conducted by independent cybersecurity specialists, there is no evidence that any sensitive personal information, financial records or legally protected data was breached by the threat actor during our incident. Our recovery process was supported by some of the nation's leading cybersecurity specialists and was conducted with an intentional, phased and prioritized method. This complex recovery process took time to ensure that systems and applications were restored safely and securely. While that work was underway, teams from across the company moved quickly to implement workarounds for critical processes like claims handling and to mobilize our workforce to step outside their normal duties to support. By July 7th, one month after the outage, the majority of our systems were back up and running. I'd like to express my appreciation to the employees and agents who worked tirelessly to recover our systems safely and to keep our operations going. From every area of the company and from both employees and agents, I saw a willingness to do whatever it took to get through this situation and to uphold our promise of service. That is never what we expected to be dealing with in our 100th year of business, but incidents like this one are an unfortunate reality of doing business in today's world. Our information security protocols, along with our technical and physical safeguards, are aligned with the best practices of the insurance industry. However, this incidence shows that no organization is completely immune to such attacks. Cyber criminal groups and information security incidents are becoming increasingly sophisticated and even the most well-protected organizations can be impacted. Safeguarding our systems and the information we have continue to be top priorities and we're already implementing what we learned from this incident to further strengthen our cybersecurity protections. Now let's turn to the financial performance of the past quarter. Here to share the details is Chief Financial Officer Julie Pielkowski. Julie?