• Erie Indemnity average return on tangible equity for 2023 was 25.28, a 15.07% increase from 2022.
• Erie Indemnity average return on tangible equity for 2022 was 21.97, a 10.98% increase from 2021.
• Erie Indemnity average return on tangible equity for 2021 was 24.68, a 3.63% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.