• Erie Indemnity average gross margin for 2023 was 14.74%, a 15.88% increase from 2022.
• Erie Indemnity average gross margin for 2022 was 12.72%, a 2.25% increase from 2021.
• Erie Indemnity average gross margin for 2021 was 12.44%, a 9.86% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.