• Erie Indemnity average price/book ratio for 2023 was 7.65, a 12.83% increase from 2022.
• Erie Indemnity average price/book ratio for 2022 was 6.78, a 0.89% increase from 2021.
• Erie Indemnity average price/book ratio for 2021 was 6.72, a 5.08% increase from 2020.

Price/book ratio can be defined as