Erie Indemnity (ERIE) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 14, 2017
Entity Registrant Name	ERIE INDEMNITY CO
Entity Central Index Key	922,621
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Class A
Entity Common Stock, Shares Outstanding		46,189,068
Class B
Entity Common Stock, Shares Outstanding		2,542

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating revenue
Management fee revenue, net	$ 441,319	$ 416,665	$ 833,377	$ 784,123
Service agreement revenue	7,245	7,219	14,503	14,489
Total operating revenue	448,564	423,884	847,880	798,612
Operating expenses
Commissions	251,383	235,794	471,861	444,508
Salaries and employee benefits	60,774	55,025	120,514	108,314
All other operating expenses	53,363	47,306	105,927	92,366
Total operating expenses	365,520	338,125	698,302	645,188
Operating income	83,044	85,759	149,578	153,424
Investment income
Net investment income	6,236	4,891	12,214	9,553
Net realized investment gains (losses)	124	399	640	(689)
Net impairment losses recognized in earnings	(61)	0	(182)	(345)
Equity in earnings of limited partnerships	149	2,114	362	1,444
Total investment income	6,448	7,404	13,034	9,963
Interest expense, net	257		423
Income before income taxes	89,235	93,163	162,189	163,387
Income tax expense	30,708	31,854	55,786	56,183
Net income	$ 58,527	$ 61,309	$ 106,403	$ 107,204
Class A
Net income per share
Common stock - basic (in dollars per share)	$ 1.26	$ 1.32	$ 2.28	$ 2.30
Common stock - diluted (in dollars per share)	$ 1.12	$ 1.17	$ 2.03	$ 2.04
Weighted average shares outstanding – Basic
Common stock - basic (in shares)	46,180,852	46,188,867	46,184,666	46,188,967
Weighted average shares outstanding – Diluted
Common stock - diluted (in shares)	52,299,395	52,392,862	52,355,214	52,458,394
Dividends declared per share
Common stock (in dollars per share)	$ 0.7825	$ 0.7300	$ 1.5650	$ 1.4600
Class B
Net income per share
Common stock - basic (in dollars per share)	189	197	343	345
Common stock - diluted (in dollars per share)	$ 188	$ 197	$ 343	$ 345
Weighted average shares outstanding – Basic
Common stock - basic (in shares)	2,542	2,542	2,542	2,542
Weighted average shares outstanding – Diluted
Common stock - diluted (in shares)	2,542	2,542	2,542	2,542
Dividends declared per share
Common stock (in dollars per share)	$ 117.375	$ 109.500	$ 234.750	$ 219

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 58,527	$ 61,309	$ 106,403	$ 107,204
Other comprehensive income, net of tax
Change in unrealized holding gains on available-for-sale securities	1,092	3,026	2,613	6,491
Comprehensive income	$ 59,619	$ 64,335	$ 109,016	$ 113,695

STATEMENTS OF FINANCIAL POSITIO

STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 144,709	$ 189,072
Available-for-sale securities	72,057	56,138
Receivables from Erie Insurance Exchange and affiliates	411,422	378,540
Prepaid expenses and other current assets	36,023	30,169
Federal income taxes recoverable	0	5,260
Accrued investment income	6,874	6,337
Total current assets	671,085	665,516
Available-for-sale securities	672,625	657,153
Limited partnership investments	53,230	58,159
Fixed assets, net	71,119	69,142
Deferred income taxes, net	51,811	53,889
Note receivable from Erie Family Life Insurance Company	25,000	25,000
Other assets	22,355	20,096
Total assets	1,567,225	1,548,955
Current liabilities:
Commissions payable	232,905	210,559
Agent bonuses	62,845	114,772
Accounts payable and accrued liabilities	86,844	88,153
Dividends payable	36,441	36,441
Deferred executive compensation	9,898	19,675
Federal income taxes payable	2,088	0
Total current liabilities	431,021	469,600
Defined benefit pension plans	219,972	221,827
Employee benefit obligations	462	756
Deferred executive compensation	11,810	13,233
Long-term borrowings	49,742	24,766
Other long-term liabilities	1,004	1,863
Total liabilities	714,011	732,045
Shareholders’ equity
Additional paid-in-capital	16,470	16,300
Accumulated other comprehensive loss	(118,768)	(121,381)
Retained earnings	2,099,432	2,065,911
Total contributed capital and retained earnings	1,999,304	1,963,000
Treasury stock, at cost; 22,110,132 shares held	(1,155,114)	(1,155,846)
Deferred compensation	9,024	9,756
Total shareholders’ equity	853,214	816,910
Total liabilities and shareholders’ equity	1,567,225	1,548,955
Class A
Shareholders’ equity
Common stock	1,992	1,992
Class B
Shareholders’ equity
Common stock	$ 178	$ 178

STATEMENTS OF FINANCIAL POSITI5

STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Treasury stock (in shares)	22,110,132	22,110,132
Class A
Common stock, stated value per share (in dollars per share)	$ 0.0292	$ 0.0292
Common stock, authorized (in shares)	74,996,930	74,996,930
Common stock, issued (in shares)	68,299,200	68,299,200
Common stock, outstanding (in shares)	46,189,068	46,189,068
Class B
Common stock, stated value per share (in dollars per share)	$ 70	$ 70
Common stock, authorized (in shares)	3,070	3,070
Common stock, issued (in shares)	2,542	2,542
Common stock, outstanding (in shares)	2,542	2,542
Ratio for converting shares of Class B common stock into shares of Class A common stock (as a percent)	2400.00%	2400.00%

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Management fee received	$ 806,129	$ 757,193
Service agreement fee received	14,503	14,489
Net investment income received	15,022	12,921
Limited partnership distributions	1,339	5,418
Decrease in reimbursements collected from affiliates	(5,633)	(12,288)
Commissions paid to agents	(386,400)	(363,968)
Agents bonuses paid	(115,056)	(107,170)
Salaries and wages paid	(95,462)	(90,509)
Pension contribution and employee benefits paid	(33,737)	(31,631)
General operating expenses paid	(113,122)	(91,715)
Income taxes paid	(47,767)	(42,258)
Interest paid	(325)
Net cash provided by operating activities	39,491	50,482
Purchase of investments:
Available-for-sale securities	(184,803)	(161,835)
Limited partnerships	(325)	(367)
Proceeds from investments:
Available-for-sale securities sales	57,851	42,358
Available-for-sale securities maturities/calls	100,042	69,672
Trading securities		3,146
Limited partnerships	4,344	11,246
Net purchase of fixed assets	(9,972)	(7,257)
Net (distributions) collections on agent loans	(3,083)	1,770
Net cash used in investing activities	(35,946)	(41,267)
Cash flows from financing activities
Dividends paid to shareholders	(72,883)	(67,993)
Net proceeds from long-term borrowings	24,975
Net cash used in financing activities	(47,908)	(67,993)
Net decrease in cash and cash equivalents	(44,363)	(58,778)
Cash and cash equivalents, beginning of period	189,072	182,889
Cash and cash equivalents, end of period	$ 144,709	$ 124,111

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1. Nature of Operations Erie Indemnity Company ("Indemnity", "we", "us", "our") is a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange ("Exchange"). The Exchange, which also commenced business in 1925, is a Pennsylvania-domiciled reciprocal insurer that writes property and casualty insurance. We function solely as the management company and all insurance operations are performed by the Exchange. Our primary function, as attorney-in-fact, is to perform certain services for the Exchange relating to the sales, underwriting, and issuance of policies on behalf of the Exchange. This is done in accordance with a subscriber’s agreement (a limited power of attorney) executed individually by each subscriber (policyholder), which appoints us as their common attorney-in-fact to transact certain business on their behalf and to manage the affairs of the Exchange. Pursuant to the subscriber’s agreement and for its services as attorney-in-fact, we earn a management fee calculated as a percentage of the direct and assumed premiums written by the Exchange. The services we provide to the Exchange are related to the sales, underwriting and issuance of policies. The sales related services we provide include agent compensation and certain sales and advertising support services. Agent compensation includes scheduled commissions to agents based upon premiums written as well as additional commissions and bonuses to agents, which are earned by achieving targeted measures. The underwriting services we provide include underwriting and policy processing. The remaining services we provide include customer service and administrative support. We also provide information technology services that support all the functions listed above. By virtue of its legal structure as a reciprocal insurer, the Exchange does not have the ability to enter into contractual relationships and therefore Indemnity serves as the attorney-in-fact on behalf of the Exchange for all claims handling services, investment management services, and certain other common overhead and service department functions in accordance with the subscriber’s agreement. The amounts Indemnity incurs on behalf of the Exchange in this capacity are reimbursed to Indemnity from the Exchange at cost. Our results of operations are tied to the growth and financial condition of the Exchange. If any events occurred that impaired the Exchange’s ability to grow or sustain its financial condition, including but not limited to reduced financial strength ratings, disruption in the independent agency relationships, significant catastrophe losses, or products not meeting customer demands, the Exchange could find it more difficult to retain its existing business and attract new business. A decline in the business of the Exchange almost certainly would have as a consequence a decline in the total premiums paid and a correspondingly adverse effect on the amount of the management fees we receive. We also have an exposure to a concentration of credit risk related to the unsecured receivables due from the Exchange for its management fee. See Note 12, "Concentrations of Credit Risk" contained within this report.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2. Significant Accounting Policies Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . For further information, refer to the financial statements and footnotes included in our Form 10-K for the year ended December 31, 2016 as filed with the Securities and Exchange Commission on February 23, 2017 . Use of estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recently issued accounting standards In March 2017, the FASB issued ASU 2017-07, "Compensation-Retirement Benefits", which requires the service cost component of net benefit costs to be reported with other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit costs are required to be presented separately from the service cost component and outside of income from operations. This amendment also allows only the service cost component to be eligible for capitalization when applicable. The guidance is effective for interim and annual periods beginning after December 15, 2017. While the presentation of the costs within the Statements of Operations will change, we do not expect a material impact on our financial statements. In March 2017, the FASB issued ASU 2017-08, "Receivables-Nonrefundable Fees and Other Costs" , which shortens the amortization period for certain purchased callable debt securities held at a premium from maturity date to the earliest call date. ASU 2017-08 is effective for interim and annual reporting periods beginning after December 31, 2018. The guidance should be applied using a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of this guidance to have a material impact on our financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments-Credit Losses" , which requires financial assets measured at amortized cost to be presented at the net amount expected to be collected through the use of a new forward-looking expected loss model and credit losses relating to available-for-sale debt securities to be recognized through an allowance for credit losses. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption for interim and annual periods beginning after December 15, 2018 is permitted. We are currently evaluating the impact of this guidance on our invested assets. Our current investments are not measured at amortized cost, which are the investments that require the use of a new expected loss model. Our available-for-sale debt securities will continue to be monitored for credit losses which would be reflected as an allowance for credit losses rather than a reduction of the carrying value of the asset. The other material financial assets subject to this guidance include our receivables from Erie Insurance Exchange and affiliates. Given the financial strength of the Exchange, demonstrated by its strong surplus position and industry ratings, it is unlikely these receivables would have significant, if any, credit loss exposure. We do not expect a material impact on our financial statements or related disclosures as a result of this guidance. In February 2016, the FASB issued ASU 2016-02, "Leases" , which requires lessees to recognize assets and liabilities arising from operating leases on the statement of financial position and to disclose key information about leasing arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Leases are required to be recognized and measured at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted. We expect to adopt ASU 2016-02 as of January 1, 2019 using the modified retrospective method. Under existing guidance, we recognize lease expense as a component of operating expenses in the Statements of Operations. We are in the process of evaluating our existing lease contracts to determine the impact to our financial statements and disclosures. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments-Overall" . ASU 2016-01 revises the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 is effective for interim and annual reporting periods beginning after December 15, 2017. As of June 30, 2017 our investments in equity securities have been liquidated which would result in no current impact to our financial statements upon adoption of this guidance. We will continue to monitor our investment portfolio as we may enter into investments in equity securities in subsequent periods; however, at this time we do not expect that recognizing the change in fair value of future equity investments through net income instead of accumulated other comprehensive income would be material. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers" . ASU 2014-09 requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period with early application permitted beginning in the first interim period in 2017. We expect to adopt the ASU 2014-09 as of January 1, 2018 under the modified retrospective method where the cumulative effect is recognized at the date of initial application. Our evaluation of ASU 2014-09 is ongoing and not complete. The FASB has issued, and may issue in the future, interpretative guidance which may cause our evaluation to change. Based on the current guidance, we performed an analysis in accordance with the steps identified in the guidance around the recognition, measurement, and presentation of our two operating revenue streams; management fee revenue and service fee revenue. As a result of this analysis, we have preliminarily concluded that adoption of this guidance will not have a material impact on our revenue recognition patterns or our financial statements for these revenue streams. We are also reviewing agreements related to the amounts we receive as reimbursement for incurring costs on behalf of the Exchange, such as claims-related expenses, investment and other overhead expenses. While the expenses we incur are reimbursed to us at cost from the Exchange, we are evaluating if there are any performance obligations that would require consideration under this guidance. Additionally, we are currently evaluating the impact of the new disclosure requirements.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note 3. Earnings Per Share Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights. Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 9, "Capital Stock". Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method. A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock: Three months ended June 30, 2017 2016 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 58,048 46,180,852 $ 1.26 $ 60,807 46,188,867 $ 1.32 Dilutive effect of stock-based awards 0 17,743 — 0 103,195 — Assumed conversion of Class B shares 479 6,100,800 — 502 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 58,527 52,299,395 $ 1.12 $ 61,309 52,392,862 $ 1.17 Class B – Basic EPS: Income available to Class B stockholders $ 479 2,542 $ 189 $ 502 2,542 $ 197 Class B – Diluted EPS: Income available to Class B stockholders $ 479 2,542 $ 188 $ 502 2,542 $ 197 Six months ended June 30, 2017 2016 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 105,532 46,184,666 $ 2.28 $ 106,327 46,188,967 $ 2.30 Dilutive effect of stock-based awards 0 69,748 — 0 168,627 — Assumed conversion of Class B shares 871 6,100,800 — 877 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 106,403 52,355,214 $ 2.03 $ 107,204 52,458,394 $ 2.04 Class B – Basic EPS: Income available to Class B stockholders $ 871 2,542 $ 343 $ 877 2,542 $ 345 Class B – Diluted EPS: Income available to Class B stockholders $ 871 2,542 $ 343 $ 877 2,542 $ 345

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value	Note 4. Fair Value Our available-for-sale and trading securities are recorded at fair value, which is the price that would be received to sell the asset in an orderly transaction between willing market participants as of the measurement date. Valuation techniques used to derive the fair value of our available-for-sale and trading securities are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources. Unobservable inputs reflect our own assumptions regarding fair market value for these securities. Although virtually all of our prices are obtained from third party sources, we also perform an internal pricing review on outliers, which include securities with price changes inconsistent with current market conditions. Financial instruments are categorized based upon the following characteristics or inputs to the valuation techniques: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs for the asset or liability. Estimates of fair values for our investment portfolio are obtained primarily from a nationally recognized pricing service. Our Level 1 category includes those securities valued using an exchange traded price provided by the pricing service. The methodologies used by the pricing service that support a Level 2 classification of a financial instrument include multiple verifiable, observable inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. Pricing service valuations for Level 3 securities are based upon proprietary models and are used when observable inputs are not available or in illiquid markets. In limited circumstances we adjust the price received from the pricing service when, in our judgment, a better reflection of fair value is available based upon corroborating information and our knowledge and monitoring of market conditions such as a disparity in price of comparable securities and/or non-binding broker quotes. In other circumstances, certain securities are internally priced because prices are not provided by the pricing service. We perform continuous reviews of the prices obtained from the pricing service. This includes evaluating the methodology and inputs used by the pricing service to ensure that we determine the proper classification level of the financial instrument. Price variances, including large periodic changes, are investigated and corroborated by market data. We have reviewed the pricing methodologies of our pricing service as well as other observable inputs, such as data, and transaction volumes and believe that their prices adequately consider market activity in determining fair value. Our review process continues to evolve based upon accounting guidance and requirements. When a price from the pricing service is not available, values are determined by obtaining broker/dealer quotes and/or market comparables. When available, we obtain multiple quotes for the same security. The ultimate value for these securities is determined based upon our best estimate of fair value using corroborating market information. Our evaluation includes the consideration of benchmark yields, reported trades, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. The following tables present our fair value measurements on a recurring basis by asset class and level of input: At June 30, 2017 Fair value measurements using: (in thousands) Total Quoted prices in Level 1 Observable inputs Level 2 Unobservable inputs Level 3 Available-for-sale securities: U.S. treasury $ 5,051 $ 0 $ 5,051 $ 0 States & political subdivisions 262,697 0 262,697 0 Corporate debt securities 350,180 0 340,885 9,295 Residential mortgage-backed securities 13,553 0 13,553 0 Commercial mortgage-backed securities 34,977 0 34,977 0 Collateralized debt obligations 76,224 0 76,224 0 Other debt securities 2,000 0 2,000 0 Total fixed maturities 744,682 0 735,387 9,295 Total available-for-sale securities 744,682 0 735,387 9,295 Other investments (1) 4,376 — — — Total $ 749,058 $ 0 $ 735,387 $ 9,295 At December 31, 2016 Fair value measurements using: (in thousands) Total Quoted prices in Observable inputs Unobservable inputs Available-for-sale securities: U.S. treasury $ 5,031 $ 0 $ 5,031 $ 0 Government sponsored entities 2,026 0 2,026 0 States & political subdivisions 253,132 0 253,132 0 Corporate debt securities 322,948 0 313,596 9,352 Residential mortgage-backed securities 16,102 0 16,102 0 Commercial mortgage-backed securities 36,849 0 36,849 0 Collateralized debt obligations 69,253 0 69,253 0 Other debt securities 2,000 0 2,000 0 Total fixed maturities 707,341 0 697,989 9,352 Common stock 5,950 5,950 0 0 Total available-for-sale securities 713,291 5,950 697,989 9,352 Other investments (1) 4,412 — — — Total $ 717,703 $ 5,950 $ 697,989 $ 9,352 (1) Other investments measured at fair value represent real estate funds included on the balance sheet as limited partnership investments that are reported under the fair value option using the net asset value practical expedient. These amounts are not required to be categorized in the fair value hierarchy. The investments can never be redeemed with the funds. Instead, distributions are received when liquidation of the underlying assets of the funds occur. It is estimated that the underlying assets will generally be liquidated between 5 and 10 years from the inception of the funds. The fair value of these investments is based on the net asset value (NAV) information provided by the general partner. Fair value is based on our proportionate share of the NAV based on the most recent partners' capital statements received from the general partners, which is generally one quarter prior to our balance sheet date. These values are then analyzed to determine if the NAV represents fair value at our balance sheet date, with adjustment being made where appropriate. We consider observable market data and perform a review validating the appropriateness of the NAV at each balance sheet date. It is likely that all of the investments will be redeemed at a future date for an amount different than the NAV of our ownership interest in partners' capital as of June 30, 2017 and December 31, 2016 . During the six months ended June 30, 2017 , no contributions were made and no distributions were received from these investments. During the year ended December 31, 2016 , no contributions were made and distributions totaling $0.9 million were received from these investments. There were no unfunded commitments related to the investments as of June 30, 2017 , and $0.3 million as of December 31, 2016 . We review the fair value hierarchy classifications each reporting period. Transfers between hierarchy levels may occur due to changes in the available market observable inputs. Transfers in and out of level classifications are reported as having occurred at the beginning of the quarter in which the transfers occurred. There were no transfers between Level 1 and Level 2 for the three and six months ended June 30, 2017 and 2016 , respectively. Level 3 Assets – Quarterly Change: (in thousands) Beginning balance at March 31, 2017 Included in earnings (1) Included income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2017 Available-for-sale securities: Corporate debt securities $ 9,803 $ 29 $ (23 ) $ 2,110 $ (1,283 ) $ 3,626 $ (4,967 ) $ 9,295 Total fixed maturities 9,803 29 (23 ) 2,110 (1,283 ) 3,626 (4,967 ) 9,295 Total available-for-sale securities 9,803 29 (23 ) 2,110 (1,283 ) 3,626 (4,967 ) 9,295 Total Level 3 assets $ 9,803 $ 29 $ (23 ) $ 2,110 $ (1,283 ) $ 3,626 $ (4,967 ) $ 9,295 Level 3 Assets – Year-to-Date Change: (in thousands) Beginning balance at December 31, 2016 Included in earnings (1) Included income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2017 Available-for-sale securities: Corporate debt securities $ 9,352 $ (21 ) $ (48 ) $ 3,981 $ (3,132 ) $ 5,811 $ (6,648 ) $ 9,295 Total fixed maturities 9,352 (21 ) (48 ) 3,981 (3,132 ) 5,811 (6,648 ) 9,295 Total available-for-sale securities 9,352 (21 ) (48 ) 3,981 (3,132 ) 5,811 (6,648 ) 9,295 Total Level 3 assets $ 9,352 $ (21 ) $ (48 ) $ 3,981 $ (3,132 ) $ 5,811 $ (6,648 ) $ 9,295 Level 3 Assets – Quarterly Change: (in thousands) Beginning balance at March 31, 2016 Included in earnings (1) Included in other comprehensive income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2016 Available-for-sale securities: Corporate debt securities $ 4,821 $ 30 $ 54 $ 5,131 $ (551 ) $ 1,660 $ (2,294 ) $ 8,851 Commercial mortgage-backed securities 0 0 3 1,000 0 0 0 1,003 Collateralized debt obligations 12,037 0 0 1,200 0 0 (12,037 ) 1,200 Total fixed maturities 16,858 30 57 7,331 (551 ) 1,660 (14,331 ) 11,054 Total available-for-sale securities 16,858 30 57 7,331 (551 ) 1,660 (14,331 ) 11,054 Total Level 3 assets $ 16,858 $ 30 $ 57 $ 7,331 $ (551 ) $ 1,660 $ (14,331 ) $ 11,054 Level 3 Assets – Year-to-Date Change: (in thousands) Beginning balance at December 31, 2015 Included in earnings (1) Included in other comprehensive income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2016 Available-for-sale securities: Corporate debt securities $ 69 $ 45 $ 81 $ 8,670 $ (606 ) $ 2,956 $ (2,364 ) $ 8,851 Commercial mortgage-backed securities 0 0 3 1,000 0 0 0 1,003 Collateralized debt obligations 8,577 4 (12 ) 4,722 (54 ) 0 (12,037 ) 1,200 Total fixed maturities 8,646 49 72 14,392 (660 ) 2,956 (14,401 ) 11,054 Total available-for-sale securities 8,646 49 72 14,392 (660 ) 2,956 (14,401 ) 11,054 Total Level 3 assets $ 8,646 $ 49 $ 72 $ 14,392 $ (660 ) $ 2,956 $ (14,401 ) $ 11,054 (1) These amounts are reported in the Statements of Operations as net investment income and net realized investment gains (losses) for the each of the periods presented above. (2) Transfers in and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs. Quantitative and Qualitative Disclosures about Unobservable Inputs When a non-binding broker quote was the only input available, the security was classified within Level 3. Use of non-binding broker quotes totaled $9.3 million at June 30, 2017 . The unobservable inputs are not reasonably available to us. The following table presents our fair value measurements on a recurring basis by pricing source: (in thousands) At June 30, 2017 Total Level 1 Level 2 Level 3 Fixed maturities: Priced via pricing services $ 744,682 $ 0 $ 735,387 $ 9,295 Total fixed maturities 744,682 0 735,387 9,295 Other investments: Priced via unobservable inputs (1) 4,376 — — — Total other investments 4,376 — — — Total $ 749,058 $ 0 $ 735,387 $ 9,295 (1) Other investments measured at fair value represent real estate funds included on the balance sheet as limited partnership investments that are reported under the fair value option using the net asset value practical expedient. These amounts are not required to be categorized in the fair value hierarchy. The fair value of these investments is based on the NAV information provided by the general partner. There were no assets measured at fair value on a nonrecurring basis during the six months ended June 30, 2017 .

Investments

Investments	6 Months Ended
	Jun. 30, 2017
Investments [Abstract]
Investments	Note 5. Investments Available-for-sale securities The following tables summarize the cost and fair value of our available-for-sale securities: At June 30, 2017 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Available-for-sale securities: U.S. treasury $ 5,082 $ 0 $ 31 $ 5,051 States & political subdivisions 255,244 8,211 758 262,697 Corporate debt securities 348,531 2,933 1,284 350,180 Residential mortgage-backed securities 13,641 58 146 13,553 Commercial mortgage-backed securities 35,638 92 753 34,977 Collateralized debt obligations 75,857 405 38 76,224 Other debt securities 2,000 0 0 2,000 Total fixed maturities 735,993 11,699 3,010 744,682 Total available-for-sale securities $ 735,993 $ 11,699 $ 3,010 $ 744,682 At December 31, 2016 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Available-for-sale securities: U.S. treasury $ 5,093 $ 0 $ 62 $ 5,031 Government sponsored entities 2,004 22 0 2,026 States & political subdivisions 249,312 6,113 2,293 253,132 Corporate debt securities 321,041 3,293 1,386 322,948 Residential mortgage-backed securities 16,232 61 191 16,102 Commercial mortgage-backed securities 37,723 59 933 36,849 Collateralized debt obligations 68,998 351 96 69,253 Other debt securities 2,000 0 0 2,000 Total fixed maturities 702,403 9,899 4,961 707,341 Common stock 6,152 0 202 5,950 Total available-for-sale securities $ 708,555 $ 9,899 $ 5,163 $ 713,291 The amortized cost and estimated fair value of fixed maturities at June 30, 2017 are shown below by remaining contractual term to maturity. Mortgage-backed securities are allocated based upon their stated maturity dates. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2017 (in thousands) Amortized Estimated cost fair value Due in one year or less $ 71,180 $ 71,283 Due after one year through five years 330,763 334,532 Due after five years through ten years 223,344 227,888 Due after ten years 110,706 110,979 Total fixed maturities $ 735,993 $ 744,682 Available-for-sale securities in a gross unrealized loss position are as follows. Data is provided by length of time for securities in a gross unrealized loss position. At June 30, 2017 (in thousands) Less than 12 months 12 months or longer Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses No. of holdings Available-for-sale securities: U.S. treasury $ 5,051 $ 31 $ 0 $ 0 $ 5,051 $ 31 1 States & political subdivisions 50,085 721 1,123 37 51,208 758 24 Corporate debt securities 143,284 1,059 6,228 225 149,512 1,284 211 Residential mortgage-backed securities 4,489 56 4,097 90 8,586 146 8 Commercial mortgage-backed securities 19,545 292 7,702 461 27,247 753 26 Collateralized debt obligations 28,755 35 1,020 3 29,775 38 16 Total fixed maturities 251,209 2,194 20,170 816 271,379 3,010 286 Total available-for-sale securities $ 251,209 $ 2,194 $ 20,170 $ 816 $ 271,379 $ 3,010 286 Quality breakdown of fixed maturities: Investment grade $ 206,737 $ 1,487 $ 16,636 $ 325 $ 223,373 $ 1,812 124 Non-investment grade 44,472 707 3,534 491 48,006 1,198 162 Total fixed maturities $ 251,209 $ 2,194 $ 20,170 $ 816 $ 271,379 $ 3,010 286 At December 31, 2016 (in thousands) Less than 12 months 12 months or longer Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses No. of holdings Available-for-sale securities: U.S. treasury $ 5,031 $ 62 $ 0 $ 0 $ 5,031 $ 62 1 States & political subdivisions 84,611 2,293 0 0 84,611 2,293 40 Corporate debt securities 112,453 987 8,692 399 121,145 1,386 155 Residential mortgage-backed securities 7,451 60 4,974 131 12,425 191 13 Commercial mortgage-backed securities 26,509 437 4,319 496 30,828 933 28 Collateralized debt obligations 27,470 75 4,208 21 31,678 96 15 Total fixed maturities 263,525 3,914 22,193 1,047 285,718 4,961 252 Common stock 5,950 202 0 0 5,950 202 1 Total available-for-sale securities $ 269,475 $ 4,116 $ 22,193 $ 1,047 $ 291,668 $ 5,163 253 Quality breakdown of fixed maturities: Investment grade $ 239,041 $ 3,605 $ 16,061 $ 399 $ 255,102 $ 4,004 136 Non-investment grade 24,484 309 6,132 648 30,616 957 116 Total fixed maturities $ 263,525 $ 3,914 $ 22,193 $ 1,047 $ 285,718 $ 4,961 252 The above securities have been evaluated and determined to be temporary impairments for which we expect to recover our entire principal plus interest. The primary components of this analysis include a general review of market conditions and financial performance of the issuer along with the extent and duration at which fair value is less than cost. Any securities that we intend to sell or will more likely than not be required to sell before recovery are included in other-than-temporary impairments with the impairment charges recognized in earnings. Net investment income Interest and dividend income are recognized as earned and recorded to net investment income. Investment income, net of expenses, was generated from the following portfolios: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Fixed maturities $ 6,220 $ 4,858 $ 12,124 $ 9,384 Equity securities 17 47 49 82 Cash equivalents and other 395 321 916 645 Total investment income 6,632 5,226 13,089 10,111 Less: investment expenses 396 335 875 558 Net investment income $ 6,236 $ 4,891 $ 12,214 $ 9,553 Realized investment gains (losses) Realized gains and losses on sales of securities are recognized in income based upon the specific identification method. Realized gains (losses) on investments were as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Available-for-sale securities: Fixed maturities: Gross realized gains $ 507 $ 438 $ 1,087 $ 572 Gross realized losses (236 ) (209 ) (394 ) (1,792 ) Net realized gains (losses) 271 229 693 (1,220 ) Equity securities: Gross realized losses (145 ) 0 (145 ) (34 ) Net realized losses (145 ) 0 (145 ) (34 ) Trading securities: Common stock: Gross realized gains 0 586 0 586 Decreases in fair value (1) 0 (416 ) 0 (21 ) Net realized gains 0 170 0 565 Miscellaneous: Gross realized gains 0 0 94 0 Gross realized losses (2 ) 0 (2 ) 0 Net realized (losses) gains (2 ) 0 92 0 Net realized investment gains (losses) $ 124 $ 399 $ 640 $ (689 ) (1) The fair value of our common stocks is determined based upon exchange traded prices provided by a nationally recognized pricing service. Net impairment losses The components of other-than-temporary impairments on investments were as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Fixed maturities $ (61 ) $ 0 $ (182 ) $ (345 ) Total other-than-temporary impairments (61 ) 0 (182 ) (345 ) Portion recognized in other comprehensive income 0 0 0 0 Net impairment losses recognized in earnings $ (61 ) $ 0 $ (182 ) $ (345 ) In considering if fixed maturity securities were credit-impaired, some of the factors considered include: potential for the default of interest and/or principal, level of subordination, collateral of the issue, compliance with financial covenants, credit ratings and industry conditions. We have the intent to sell all credit-impaired fixed maturity securities; therefore, the entire amount of the impairment charges were included in earnings and no non-credit impairments were recognized in other comprehensive income. Limited partnerships The majority of our limited partnership holdings are considered investment companies where the general partners record assets at fair value. These limited partnerships are recorded using the equity method of accounting and are generally reported on a one-quarter lag; therefore, our year-to-date limited partnership results through June 30, 2017 are comprised of partnership financial results for the fourth quarter of 2016 and the first quarter of 2017. Given the lag in reporting, our limited partnership results do not reflect the market conditions of the second quarter of 2017 . We also own some real estate limited partnerships that do not meet the criteria of an investment company. These partnerships prepare audited financial statements on a cost basis. We have elected to report these limited partnerships under the fair value option, which is based on the NAV from our partner's capital statement reflecting the general partner's estimate of fair value for the fund's underlying assets. Fair value provides consistency in the evaluation and financial reporting for these limited partnerships and limited partnerships accounted for under the equity method. Cash contributions made to and distributions received from the partnerships are recorded in the period in which the transaction occurs. Amounts included in equity in earnings of limited partnerships by method of accounting are included below: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Equity in earnings of limited partnerships accounted for under the equity method $ 149 $ 2,058 $ 399 $ 1,342 Change in fair value of limited partnerships accounted for under the fair value option 0 56 (37 ) 102 Equity in earnings of limited partnerships $ 149 $ 2,114 $ 362 $ 1,444 The following table summarizes limited partnership investments by sector: (in thousands) At June 30, 2017 At December 31, 2016 Private equity $ 34,790 $ 35,228 Mezzanine debt 4,908 6,010 Real estate 9,156 12,509 Real estate - fair value option 4,376 4,412 Total limited partnership investments $ 53,230 $ 58,159 See also Note 13, "Commitments and Contingencies" for investment commitments related to limited partnerships.

Borrowing Arrangements

Borrowing Arrangements	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Borrowing Arrangements	Note 6. Borrowing Arrangements Bank line of credit As of June 30, 2017 , we have access to a $100 million bank revolving line of credit with a $25 million letter of credit sublimit that expires on November 3, 2020 . As of June 30, 2017 , a total of $99.1 million remains available under the facility due to $0.9 million outstanding letters of credit, which reduce the availability for letters of credit to $24.1 million . We had no borrowings outstanding on our line of credit as of June 30, 2017 . Bonds with a fair value of $110.2 million were pledged as collateral on the line at June 30, 2017 . The securities pledged as collateral have no trading restrictions and are reported as available-for-sale securities in the Statements of Financial Position as of June 30, 2017 . The bank requires compliance with certain covenants, which include leverage ratios and debt restrictions, for our line of credit. We are in compliance with all bank covenants at June 30, 2017 . Term loan credit facility On November 7, 2016, we entered into a credit agreement for a $100 million senior secured draw term loan credit facility ("Credit Facility") for the acquisition of real property and construction of an office building that will serve as part of our principal headquarters. Under the agreement, $25 million will be drawn on December 1, 2016, June 1, 2017, December 1, 2017, and June 1, 2018 ("Draw Period"). During the Draw Period, we will make monthly interest only payments under the Credit Facility and thereafter the Credit Facility converts to a fully-amortized term loan with monthly payments of principal and interest over a period of 28 years . Borrowings under the Credit Facility will bear interest at a fixed rate of 4.35% . In addition, we are required to pay a quarterly commitment fee of 0.08% on the unused portion of the Credit Facility during the Draw Period. We executed the second $25 million draw on June 1, 2017 per the agreement, for a total draw against the facility of $50 million as of June 30, 2017 . Bonds with a fair value of $109.2 million were pledged as collateral for the facility and are reported as available-for-sale securities in the Statements of Financial Position as of June 30, 2017 . The bank requires compliance with certain covenants, which include leverage ratios, debt restrictions and minimum net worth, for our Credit Facility. We are in compliance with all covenants at June 30, 2017 . Amounts drawn from the Credit Facility are reported at carrying value on our Statements of Financial Position, net of unamortized loan origination and commitment fees. The estimated fair value of this borrowing at June 30, 2017 was $48.1 million . The estimated fair value was determined using estimates based upon interest rates and credit spreads and are classified as Level 3 in the fair value hierarchy as of June 30, 2017 . The scheduled maturity of the $100 million Credit Facility begins on January 1, 2019 with annual principal payments of $1.9 million in 2019 , $2.0 million in 2020 , $2.0 million in 2021 , $2.1 million in 2022 and $92.0 million thereafter.

Postretirement Benefits

Postretirement Benefits	6 Months Ended
	Jun. 30, 2017
Retirement Benefits [Abstract]
Postretirement Benefits	Note 7. Postretirement Benefits Pension plans Our pension plans consist of a noncontributory defined benefit pension plan covering substantially all employees and an unfunded supplemental employee retirement plan for certain members of executive and senior management. Although we are the sponsor of these postretirement plans and record the funded status of these plans, the Exchange reimburses us for approximately 58% of the annual benefit expense of these plans, which represents pension benefits for our employees performing claims and life insurance functions and their share of service department costs. A $19.0 million contribution was made to the defined benefit pension plan in the first quarter of 2017. We expect to make an additional $20 million contribution during the third quarter of 2017. Prior to 2003, the employee pension plan purchased annuities from Erie Family Life Insurance Company ("EFL"), a wholly owned subsidiary of the Exchange, for certain plan participants that were receiving benefit payments under the pension plan. These are nonparticipating annuity contracts under which EFL has unconditionally contracted to provide specified benefits to beneficiaries; however, the pension plan remains the primary obligor to the beneficiaries. A contingent liability of $20.2 million at June 30, 2017 exists in the event EFL does not honor the annuity contracts. The cost of our pension plans are as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Service cost for benefits earned $ 7,776 $ 7,050 $ 15,553 $ 14,100 Interest cost on benefits obligation 8,568 8,282 17,137 16,563 Expected return on plan assets (10,316 ) (9,880 ) (20,633 ) (19,760 ) Prior service cost amortization 218 174 436 348 Net actuarial loss amortization 2,325 2,027 4,650 4,055 Pension plan cost (1) $ 8,571 $ 7,653 $ 17,143 $ 15,306 (1) Pension plan costs represent the total cost before reimbursements to Indemnity from the Exchange and EFL.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The effective tax rates differ from the statutory federal tax rate of 35% primarily due to permanent differences for tax exempt interest income.

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2017
Class of Stock Disclosures [Abstract]
Capital Stock	Note 9. Capital Stock Class A and B common stock Holders of Class B shares may, at their option, convert their shares into Class A shares at the rate of 2,400 Class A shares per Class B share. There were no shares of Class B common stock converted into Class A common stock during the six months ended June 30, 2017 and the year ended December 31, 2016 . There is no provision for conversion of Class A shares to Class B shares, and Class B shares surrendered for conversion cannot be reissued. Stock repurchases In October 2011 , our Board of Directors approved a continuation of the current stock repurchase program for a total of $150 million , with no time limitation. There were no shares repurchased under this program during the six months ended June 30, 2017 and the year ended December 31, 2016 . We had approximately $17.8 million of repurchase authority remaining under this program at June 30, 2017 . During the six months ended June 30, 2017 , we purchased 55,935 shares of our outstanding Class A nonvoting common stock outside of our publicly announced share repurchase program at a total cost of $6.7 million . Of this amount, we purchased 3,785 shares for $0.4 million , or $111.55 per share, for stock-based awards in conjunction with our equity compensation plan. We purchased 5,266 shares for $0.6 million , or $118.56 per share, to fund the rabbi trust for the outside director deferred compensation plan. The remaining 46,884 shares were purchased at a total cost of $5.7 million , or $122.40 per share, for the vesting of stock-based awards in the long-term incentive plan.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 10. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income ("AOCI") (loss) by component, including amounts reclassified to other comprehensive income ("OCI") (loss) and the related line item in the Statements of Operations where net income is presented, are as follows: (in thousands) Three months ended Three months ended June 30, 2017 June 30, 2016 Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI, beginning of period $ 6,293 $ 2,202 $ 4,091 $ 9,219 $ 3,227 $ 5,992 OCI before reclassifications 1,746 611 1,135 4,885 1,710 3,175 Realized investment gains (126 ) (44 ) (82 ) (229 ) (80 ) (149 ) Impairment losses 61 22 39 0 0 0 OCI 1,681 589 1,092 4,656 1,630 3,026 AOCI, end of period $ 7,974 $ 2,791 $ 5,183 $ 13,875 $ 4,857 $ 9,018 Pension and other postretirement plans: (1) AOCI (loss), beginning of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) AOCI (loss), end of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) Total AOCI (loss), beginning of period $ (184,402 ) $ (64,542 ) $ (119,860 ) $ (143,691 ) $ (50,292 ) $ (93,399 ) Investment securities 1,681 589 1,092 4,656 1,630 3,026 Pension and other postretirement plans 0 0 0 0 0 0 OCI 1,681 589 1,092 4,656 1,630 3,026 AOCI (loss), end of period $ (182,721 ) $ (63,953 ) $ (118,768 ) $ (139,035 ) $ (48,662 ) $ (90,373 ) (in thousands) Six months ended Six months ended June 30, 2017 June 30, 2016 Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI, beginning of period $ 3,954 $ 1,384 $ 2,570 $ 3,888 $ 1,361 $ 2,527 OCI before reclassifications 4,386 1,535 2,851 8,388 2,936 5,452 Realized investment (gains) losses (548 ) (192 ) (356 ) 1,254 439 815 Impairment losses 182 64 118 345 121 224 OCI 4,020 1,407 2,613 9,987 3,496 6,491 AOCI, end of period $ 7,974 $ 2,791 $ 5,183 $ 13,875 $ 4,857 $ 9,018 Pension and other postretirement plans: (1) AOCI (loss), beginning of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) AOCI (loss), end of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) Total AOCI (loss), beginning of period $ (186,741 ) $ (65,360 ) $ (121,381 ) $ (149,022 ) $ (52,158 ) $ (96,864 ) Investment securities 4,020 1,407 2,613 9,987 3,496 6,491 Pension and other postretirement plans 0 0 0 0 0 0 OCI 4,020 1,407 2,613 9,987 3,496 6,491 AOCI (loss), end of period $ (182,721 ) $ (63,953 ) $ (118,768 ) $ (139,035 ) $ (48,662 ) $ (90,373 ) (1) There are no comprehensive income items or amounts reclassified out of accumulated other comprehensive loss related to postretirement plan items during interim periods.

Related Party

Related Party	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party	Note 11. Related Party Office lease We lease certain office space from the Exchange including the home office and three field office facilities. On April 28, 2017, after securing approval from the Pennsylvania Insurance Department, a new home office lease was executed between the Exchange and Indemnity, which was retroactive to January 1, 2017, when the prior lease expired. Under the new lease, rent is based on rental rates of like property in Erie, Pennsylvania and all operating expenses including utilities, cleaning, repairs, real estate taxes, property insurance and leasehold improvements will be the responsibility of the tenant (Indemnity). This lease agreement expires December 31, 2021. Under the previous lease, rents were determined considering returns on invested capital and included building operating and overhead costs. Rent costs and related operating expenses of shared facilities are allocated between Indemnity, Exchange and EFL based upon usage or square footage occupied. Total rent and operating expenses are estimated at $17.4 million for 2017 and totaled $14.3 million in 2016. In 2016, reimbursements from the Exchange and EFL related to the use of this space totaled $4.9 million .

Concentrations of Credit Risk

Concentrations of Credit Risk	6 Months Ended
	Jun. 30, 2017
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	Note 12. Concentrations of Credit Risk Financial instruments could potentially expose us to concentrations of credit risk, including unsecured receivables from the Exchange. A large majority of our revenue and receivables are from the Exchange and affiliates. See also Note 1, "Nature of Operations". Management fee amounts and other reimbursements due from the Exchange and affiliates were $411.4 million and $378.5 million at June 30, 2017 and December 31, 2016 , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies We have contractual commitments to invest up to $16.3 million related to our limited partnership investments at June 30, 2017 . These commitments are split among private equity securities of $6.6 million , mezzanine debt securities of $8.1 million , and real estate activities of $1.6 million . These commitments will be funded as required by the limited partnership agreements. We are involved in litigation arising in the ordinary course of conducting business. In accordance with current accounting standards for loss contingencies and based upon information currently known to us, we establish reserves for litigation when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss or range of loss can be reasonably estimated. When no amount within the range of loss is a better estimate than any other amount, we accrue the minimum amount of the estimable loss. To the extent that such litigation against us may have an exposure to a loss in excess of the amount we have accrued, we believe that such excess would not be material to our financial condition, results of operations, or cash flows. Legal fees are expensed as incurred. We believe that our accruals for legal proceedings are appropriate and, individually and in the aggregate, are not expected to be material to our financial condition, results of operations, or cash flows. We review all litigation on an ongoing basis when making accrual and disclosure decisions. For certain legal proceedings, we cannot reasonably estimate losses or a range of loss, if any, particularly for proceedings that are in their early stages of development or where the plaintiffs seek indeterminate damages. Various factors, including, but not limited to, the outcome of potentially lengthy discovery and the resolution of important factual questions, may need to be determined before probability can be established or before a loss or range of loss can be reasonably estimated. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. In the event that a legal proceeding results in a substantial judgment against, or settlement by, us, there can be no assurance that any resulting liability or financial commitment would not have a material adverse effect on the financial condition, results of operations, or cash flows.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events On July 10, 2017, we agreed to the guaranteed maximum price terms of an agreement with our construction manager for the construction of the office building that will serve as part of our principal headquarters. The total cost of the project will not exceed $100 million , which amount is subject to change based on agreed-upon changes to the scope of work. The expected date for substantial completion of the project is January 2020.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . For further information, refer to the financial statements and footnotes included in our Form 10-K for the year ended December 31, 2016 as filed with the Securities and Exchange Commission on February 23, 2017 .
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Recent accounting standards	Recently issued accounting standards In March 2017, the FASB issued ASU 2017-07, "Compensation-Retirement Benefits", which requires the service cost component of net benefit costs to be reported with other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit costs are required to be presented separately from the service cost component and outside of income from operations. This amendment also allows only the service cost component to be eligible for capitalization when applicable. The guidance is effective for interim and annual periods beginning after December 15, 2017. While the presentation of the costs within the Statements of Operations will change, we do not expect a material impact on our financial statements. In March 2017, the FASB issued ASU 2017-08, "Receivables-Nonrefundable Fees and Other Costs" , which shortens the amortization period for certain purchased callable debt securities held at a premium from maturity date to the earliest call date. ASU 2017-08 is effective for interim and annual reporting periods beginning after December 31, 2018. The guidance should be applied using a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of this guidance to have a material impact on our financial statements. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments-Credit Losses" , which requires financial assets measured at amortized cost to be presented at the net amount expected to be collected through the use of a new forward-looking expected loss model and credit losses relating to available-for-sale debt securities to be recognized through an allowance for credit losses. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption for interim and annual periods beginning after December 15, 2018 is permitted. We are currently evaluating the impact of this guidance on our invested assets. Our current investments are not measured at amortized cost, which are the investments that require the use of a new expected loss model. Our available-for-sale debt securities will continue to be monitored for credit losses which would be reflected as an allowance for credit losses rather than a reduction of the carrying value of the asset. The other material financial assets subject to this guidance include our receivables from Erie Insurance Exchange and affiliates. Given the financial strength of the Exchange, demonstrated by its strong surplus position and industry ratings, it is unlikely these receivables would have significant, if any, credit loss exposure. We do not expect a material impact on our financial statements or related disclosures as a result of this guidance. In February 2016, the FASB issued ASU 2016-02, "Leases" , which requires lessees to recognize assets and liabilities arising from operating leases on the statement of financial position and to disclose key information about leasing arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Leases are required to be recognized and measured at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted. We expect to adopt ASU 2016-02 as of January 1, 2019 using the modified retrospective method. Under existing guidance, we recognize lease expense as a component of operating expenses in the Statements of Operations. We are in the process of evaluating our existing lease contracts to determine the impact to our financial statements and disclosures. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments-Overall" . ASU 2016-01 revises the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 is effective for interim and annual reporting periods beginning after December 15, 2017. As of June 30, 2017 our investments in equity securities have been liquidated which would result in no current impact to our financial statements upon adoption of this guidance. We will continue to monitor our investment portfolio as we may enter into investments in equity securities in subsequent periods; however, at this time we do not expect that recognizing the change in fair value of future equity investments through net income instead of accumulated other comprehensive income would be material. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers" . ASU 2014-09 requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period with early application permitted beginning in the first interim period in 2017. We expect to adopt the ASU 2014-09 as of January 1, 2018 under the modified retrospective method where the cumulative effect is recognized at the date of initial application. Our evaluation of ASU 2014-09 is ongoing and not complete. The FASB has issued, and may issue in the future, interpretative guidance which may cause our evaluation to change. Based on the current guidance, we performed an analysis in accordance with the steps identified in the guidance around the recognition, measurement, and presentation of our two operating revenue streams; management fee revenue and service fee revenue. As a result of this analysis, we have preliminarily concluded that adoption of this guidance will not have a material impact on our revenue recognition patterns or our financial statements for these revenue streams. We are also reviewing agreements related to the amounts we receive as reimbursement for incurring costs on behalf of the Exchange, such as claims-related expenses, investment and other overhead expenses. While the expenses we incur are reimbursed to us at cost from the Exchange, we are evaluating if there are any performance obligations that would require consideration under this guidance. Additionally, we are currently evaluating the impact of the new disclosure requirements.
Earnings per share	Class A and Class B basic earnings per share and Class B diluted earnings per share are calculated under the two-class method. The two-class method allocates earnings to each class of stock based upon its dividend rights. Class B shares are convertible into Class A shares at a conversion ratio of 2,400 to 1. See Note 9, "Capital Stock". Class A diluted earnings per share are calculated under the if-converted method, which reflects the conversion of Class B shares to Class A shares. Diluted earnings per share calculations include the dilutive effect of assumed issuance of stock-based awards under compensation plans that have the option to be paid in stock using the treasury stock method.
Fair value of financial instruments	Our available-for-sale and trading securities are recorded at fair value, which is the price that would be received to sell the asset in an orderly transaction between willing market participants as of the measurement date. Valuation techniques used to derive the fair value of our available-for-sale and trading securities are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources. Unobservable inputs reflect our own assumptions regarding fair market value for these securities. Although virtually all of our prices are obtained from third party sources, we also perform an internal pricing review on outliers, which include securities with price changes inconsistent with current market conditions. Financial instruments are categorized based upon the following characteristics or inputs to the valuation techniques: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs for the asset or liability. Estimates of fair values for our investment portfolio are obtained primarily from a nationally recognized pricing service. Our Level 1 category includes those securities valued using an exchange traded price provided by the pricing service. The methodologies used by the pricing service that support a Level 2 classification of a financial instrument include multiple verifiable, observable inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. Pricing service valuations for Level 3 securities are based upon proprietary models and are used when observable inputs are not available or in illiquid markets. In limited circumstances we adjust the price received from the pricing service when, in our judgment, a better reflection of fair value is available based upon corroborating information and our knowledge and monitoring of market conditions such as a disparity in price of comparable securities and/or non-binding broker quotes. In other circumstances, certain securities are internally priced because prices are not provided by the pricing service. We perform continuous reviews of the prices obtained from the pricing service. This includes evaluating the methodology and inputs used by the pricing service to ensure that we determine the proper classification level of the financial instrument. Price variances, including large periodic changes, are investigated and corroborated by market data. We have reviewed the pricing methodologies of our pricing service as well as other observable inputs, such as data, and transaction volumes and believe that their prices adequately consider market activity in determining fair value. Our review process continues to evolve based upon accounting guidance and requirements. When a price from the pricing service is not available, values are determined by obtaining broker/dealer quotes and/or market comparables. When available, we obtain multiple quotes for the same security. The ultimate value for these securities is determined based upon our best estimate of fair value using corroborating market information. Our evaluation includes the consideration of benchmark yields, reported trades, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data.
Fair value of financial instruments, transfers between levels	We review the fair value hierarchy classifications each reporting period. Transfers between hierarchy levels may occur due to changes in the available market observable inputs. Transfers in and out of level classifications are reported as having occurred at the beginning of the quarter in which the transfers occurred.
Investments - Limited partnerships	The majority of our limited partnership holdings are considered investment companies where the general partners record assets at fair value. These limited partnerships are recorded using the equity method of accounting and are generally reported on a one-quarter lag; therefore, our year-to-date limited partnership results through June 30, 2017 are comprised of partnership financial results for the fourth quarter of 2016 and the first quarter of 2017. Given the lag in reporting, our limited partnership results do not reflect the market conditions of the second quarter of 2017 . We also own some real estate limited partnerships that do not meet the criteria of an investment company. These partnerships prepare audited financial statements on a cost basis. We have elected to report these limited partnerships under the fair value option, which is based on the NAV from our partner's capital statement reflecting the general partner's estimate of fair value for the fund's underlying assets. Fair value provides consistency in the evaluation and financial reporting for these limited partnerships and limited partnerships accounted for under the equity method. Cash contributions made to and distributions received from the partnerships are recorded in the period in which the transaction occurs.
Commitments and contingencies	We are involved in litigation arising in the ordinary course of conducting business. In accordance with current accounting standards for loss contingencies and based upon information currently known to us, we establish reserves for litigation when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss or range of loss can be reasonably estimated. When no amount within the range of loss is a better estimate than any other amount, we accrue the minimum amount of the estimable loss. To the extent that such litigation against us may have an exposure to a loss in excess of the amount we have accrued, we believe that such excess would not be material to our financial condition, results of operations, or cash flows. Legal fees are expensed as incurred. We believe that our accruals for legal proceedings are appropriate and, individually and in the aggregate, are not expected to be material to our financial condition, results of operations, or cash flows. We review all litigation on an ongoing basis when making accrual and disclosure decisions. For certain legal proceedings, we cannot reasonably estimate losses or a range of loss, if any, particularly for proceedings that are in their early stages of development or where the plaintiffs seek indeterminate damages. Various factors, including, but not limited to, the outcome of potentially lengthy discovery and the resolution of important factual questions, may need to be determined before probability can be established or before a loss or range of loss can be reasonably estimated. If the loss contingency in question is not both probable and reasonably estimable, we do not establish an accrual and the matter will continue to be monitored for any developments that would make the loss contingency both probable and reasonably estimable. In the event that a legal proceeding results in a substantial judgment against, or settlement by, us, there can be no assurance that any resulting liability or financial commitment would not have a material adverse effect on the financial condition, results of operations, or cash flows.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of the numerators and denominators used in the basic and diluted per-share computations	A reconciliation of the numerators and denominators used in the basic and diluted per-share computations is presented as follows for each class of common stock: Three months ended June 30, 2017 2016 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 58,048 46,180,852 $ 1.26 $ 60,807 46,188,867 $ 1.32 Dilutive effect of stock-based awards 0 17,743 — 0 103,195 — Assumed conversion of Class B shares 479 6,100,800 — 502 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 58,527 52,299,395 $ 1.12 $ 61,309 52,392,862 $ 1.17 Class B – Basic EPS: Income available to Class B stockholders $ 479 2,542 $ 189 $ 502 2,542 $ 197 Class B – Diluted EPS: Income available to Class B stockholders $ 479 2,542 $ 188 $ 502 2,542 $ 197 Six months ended June 30, 2017 2016 (dollars in thousands, except per share data) Allocated net income (numerator) Weighted shares (denominator) Per-share amount Allocated net income (numerator) Weighted shares (denominator) Per-share amount Class A – Basic EPS: Income available to Class A stockholders $ 105,532 46,184,666 $ 2.28 $ 106,327 46,188,967 $ 2.30 Dilutive effect of stock-based awards 0 69,748 — 0 168,627 — Assumed conversion of Class B shares 871 6,100,800 — 877 6,100,800 — Class A – Diluted EPS: Income available to Class A stockholders on Class A equivalent shares $ 106,403 52,355,214 $ 2.03 $ 107,204 52,458,394 $ 2.04 Class B – Basic EPS: Income available to Class B stockholders $ 871 2,542 $ 343 $ 877 2,542 $ 345 Class B – Diluted EPS: Income available to Class B stockholders $ 871 2,542 $ 343 $ 877 2,542 $ 345

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of fair value measurements on a recurring basis by asset class and level of input	The following tables present our fair value measurements on a recurring basis by asset class and level of input: At June 30, 2017 Fair value measurements using: (in thousands) Total Quoted prices in Level 1 Observable inputs Level 2 Unobservable inputs Level 3 Available-for-sale securities: U.S. treasury $ 5,051 $ 0 $ 5,051 $ 0 States & political subdivisions 262,697 0 262,697 0 Corporate debt securities 350,180 0 340,885 9,295 Residential mortgage-backed securities 13,553 0 13,553 0 Commercial mortgage-backed securities 34,977 0 34,977 0 Collateralized debt obligations 76,224 0 76,224 0 Other debt securities 2,000 0 2,000 0 Total fixed maturities 744,682 0 735,387 9,295 Total available-for-sale securities 744,682 0 735,387 9,295 Other investments (1) 4,376 — — — Total $ 749,058 $ 0 $ 735,387 $ 9,295 At December 31, 2016 Fair value measurements using: (in thousands) Total Quoted prices in Observable inputs Unobservable inputs Available-for-sale securities: U.S. treasury $ 5,031 $ 0 $ 5,031 $ 0 Government sponsored entities 2,026 0 2,026 0 States & political subdivisions 253,132 0 253,132 0 Corporate debt securities 322,948 0 313,596 9,352 Residential mortgage-backed securities 16,102 0 16,102 0 Commercial mortgage-backed securities 36,849 0 36,849 0 Collateralized debt obligations 69,253 0 69,253 0 Other debt securities 2,000 0 2,000 0 Total fixed maturities 707,341 0 697,989 9,352 Common stock 5,950 5,950 0 0 Total available-for-sale securities 713,291 5,950 697,989 9,352 Other investments (1) 4,412 — — — Total $ 717,703 $ 5,950 $ 697,989 $ 9,352 (1) Other investments measured at fair value represent real estate funds included on the balance sheet as limited partnership investments that are reported under the fair value option using the net asset value practical expedient. These amounts are not required to be categorized in the fair value hierarchy. The investments can never be redeemed with the funds. Instead, distributions are received when liquidation of the underlying assets of the funds occur. It is estimated that the underlying assets will generally be liquidated between 5 and 10 years from the inception of the funds. The fair value of these investments is based on the net asset value (NAV) information provided by the general partner. Fair value is based on our proportionate share of the NAV based on the most recent partners' capital statements received from the general partners, which is generally one quarter prior to our balance sheet date. These values are then analyzed to determine if the NAV represents fair value at our balance sheet date, with adjustment being made where appropriate. We consider observable market data and perform a review validating the appropriateness of the NAV at each balance sheet date. It is likely that all of the investments will be redeemed at a future date for an amount different than the NAV of our ownership interest in partners' capital as of June 30, 2017 and December 31, 2016 . During the six months ended June 30, 2017 , no contributions were made and no distributions were received from these investments. During the year ended December 31, 2016 , no contributions were made and distributions totaling $0.9 million were received from these investments. There were no unfunded commitments related to the investments as of June 30, 2017 , and $0.3 million as of December 31, 2016 .
Schedule of roll forward of Level 3 fair value measurements on a recurring basis	Level 3 Assets – Quarterly Change: (in thousands) Beginning balance at March 31, 2017 Included in earnings (1) Included income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2017 Available-for-sale securities: Corporate debt securities $ 9,803 $ 29 $ (23 ) $ 2,110 $ (1,283 ) $ 3,626 $ (4,967 ) $ 9,295 Total fixed maturities 9,803 29 (23 ) 2,110 (1,283 ) 3,626 (4,967 ) 9,295 Total available-for-sale securities 9,803 29 (23 ) 2,110 (1,283 ) 3,626 (4,967 ) 9,295 Total Level 3 assets $ 9,803 $ 29 $ (23 ) $ 2,110 $ (1,283 ) $ 3,626 $ (4,967 ) $ 9,295 Level 3 Assets – Year-to-Date Change: (in thousands) Beginning balance at December 31, 2016 Included in earnings (1) Included income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2017 Available-for-sale securities: Corporate debt securities $ 9,352 $ (21 ) $ (48 ) $ 3,981 $ (3,132 ) $ 5,811 $ (6,648 ) $ 9,295 Total fixed maturities 9,352 (21 ) (48 ) 3,981 (3,132 ) 5,811 (6,648 ) 9,295 Total available-for-sale securities 9,352 (21 ) (48 ) 3,981 (3,132 ) 5,811 (6,648 ) 9,295 Total Level 3 assets $ 9,352 $ (21 ) $ (48 ) $ 3,981 $ (3,132 ) $ 5,811 $ (6,648 ) $ 9,295 Level 3 Assets – Quarterly Change: (in thousands) Beginning balance at March 31, 2016 Included in earnings (1) Included in other comprehensive income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2016 Available-for-sale securities: Corporate debt securities $ 4,821 $ 30 $ 54 $ 5,131 $ (551 ) $ 1,660 $ (2,294 ) $ 8,851 Commercial mortgage-backed securities 0 0 3 1,000 0 0 0 1,003 Collateralized debt obligations 12,037 0 0 1,200 0 0 (12,037 ) 1,200 Total fixed maturities 16,858 30 57 7,331 (551 ) 1,660 (14,331 ) 11,054 Total available-for-sale securities 16,858 30 57 7,331 (551 ) 1,660 (14,331 ) 11,054 Total Level 3 assets $ 16,858 $ 30 $ 57 $ 7,331 $ (551 ) $ 1,660 $ (14,331 ) $ 11,054 Level 3 Assets – Year-to-Date Change: (in thousands) Beginning balance at December 31, 2015 Included in earnings (1) Included in other comprehensive income Purchases Sales Transfers into Level 3 (2) Transfers out of Level 3 (2) Ending balance at June 30, 2016 Available-for-sale securities: Corporate debt securities $ 69 $ 45 $ 81 $ 8,670 $ (606 ) $ 2,956 $ (2,364 ) $ 8,851 Commercial mortgage-backed securities 0 0 3 1,000 0 0 0 1,003 Collateralized debt obligations 8,577 4 (12 ) 4,722 (54 ) 0 (12,037 ) 1,200 Total fixed maturities 8,646 49 72 14,392 (660 ) 2,956 (14,401 ) 11,054 Total available-for-sale securities 8,646 49 72 14,392 (660 ) 2,956 (14,401 ) 11,054 Total Level 3 assets $ 8,646 $ 49 $ 72 $ 14,392 $ (660 ) $ 2,956 $ (14,401 ) $ 11,054 (1) These amounts are reported in the Statements of Operations as net investment income and net realized investment gains (losses) for the each of the periods presented above. (2) Transfers in and/or (out) of Level 3 are primarily attributable to the availability of market observable information and the re-evaluation of the observability of pricing inputs.
Schedule of fair value measurements on a recurring basis by pricing source	The following table presents our fair value measurements on a recurring basis by pricing source: (in thousands) At June 30, 2017 Total Level 1 Level 2 Level 3 Fixed maturities: Priced via pricing services $ 744,682 $ 0 $ 735,387 $ 9,295 Total fixed maturities 744,682 0 735,387 9,295 Other investments: Priced via unobservable inputs (1) 4,376 — — — Total other investments 4,376 — — — Total $ 749,058 $ 0 $ 735,387 $ 9,295 (1) Other investments measured at fair value represent real estate funds included on the balance sheet as limited partnership investments that are reported under the fair value option using the net asset value practical expedient. These amounts are not required to be categorized in the fair value hierarchy. The fair value of these investments is based on the NAV information provided by the general partner.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Investments [Abstract]
Schedule of reconciliation of cost to fair value of available-for-sale securities	The following tables summarize the cost and fair value of our available-for-sale securities: At June 30, 2017 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Available-for-sale securities: U.S. treasury $ 5,082 $ 0 $ 31 $ 5,051 States & political subdivisions 255,244 8,211 758 262,697 Corporate debt securities 348,531 2,933 1,284 350,180 Residential mortgage-backed securities 13,641 58 146 13,553 Commercial mortgage-backed securities 35,638 92 753 34,977 Collateralized debt obligations 75,857 405 38 76,224 Other debt securities 2,000 0 0 2,000 Total fixed maturities 735,993 11,699 3,010 744,682 Total available-for-sale securities $ 735,993 $ 11,699 $ 3,010 $ 744,682 At December 31, 2016 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Available-for-sale securities: U.S. treasury $ 5,093 $ 0 $ 62 $ 5,031 Government sponsored entities 2,004 22 0 2,026 States & political subdivisions 249,312 6,113 2,293 253,132 Corporate debt securities 321,041 3,293 1,386 322,948 Residential mortgage-backed securities 16,232 61 191 16,102 Commercial mortgage-backed securities 37,723 59 933 36,849 Collateralized debt obligations 68,998 351 96 69,253 Other debt securities 2,000 0 0 2,000 Total fixed maturities 702,403 9,899 4,961 707,341 Common stock 6,152 0 202 5,950 Total available-for-sale securities $ 708,555 $ 9,899 $ 5,163 $ 713,291
Schedule of amortized cost and estimated fair value of fixed maturities by remaining contractual term to maturity	The amortized cost and estimated fair value of fixed maturities at June 30, 2017 are shown below by remaining contractual term to maturity. Mortgage-backed securities are allocated based upon their stated maturity dates. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At June 30, 2017 (in thousands) Amortized Estimated cost fair value Due in one year or less $ 71,180 $ 71,283 Due after one year through five years 330,763 334,532 Due after five years through ten years 223,344 227,888 Due after ten years 110,706 110,979 Total fixed maturities $ 735,993 $ 744,682
Schedule of available-for-sale securities in a gross unrealized loss position by length of time	Available-for-sale securities in a gross unrealized loss position are as follows. Data is provided by length of time for securities in a gross unrealized loss position. At June 30, 2017 (in thousands) Less than 12 months 12 months or longer Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses No. of holdings Available-for-sale securities: U.S. treasury $ 5,051 $ 31 $ 0 $ 0 $ 5,051 $ 31 1 States & political subdivisions 50,085 721 1,123 37 51,208 758 24 Corporate debt securities 143,284 1,059 6,228 225 149,512 1,284 211 Residential mortgage-backed securities 4,489 56 4,097 90 8,586 146 8 Commercial mortgage-backed securities 19,545 292 7,702 461 27,247 753 26 Collateralized debt obligations 28,755 35 1,020 3 29,775 38 16 Total fixed maturities 251,209 2,194 20,170 816 271,379 3,010 286 Total available-for-sale securities $ 251,209 $ 2,194 $ 20,170 $ 816 $ 271,379 $ 3,010 286 Quality breakdown of fixed maturities: Investment grade $ 206,737 $ 1,487 $ 16,636 $ 325 $ 223,373 $ 1,812 124 Non-investment grade 44,472 707 3,534 491 48,006 1,198 162 Total fixed maturities $ 251,209 $ 2,194 $ 20,170 $ 816 $ 271,379 $ 3,010 286 At December 31, 2016 (in thousands) Less than 12 months 12 months or longer Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses No. of holdings Available-for-sale securities: U.S. treasury $ 5,031 $ 62 $ 0 $ 0 $ 5,031 $ 62 1 States & political subdivisions 84,611 2,293 0 0 84,611 2,293 40 Corporate debt securities 112,453 987 8,692 399 121,145 1,386 155 Residential mortgage-backed securities 7,451 60 4,974 131 12,425 191 13 Commercial mortgage-backed securities 26,509 437 4,319 496 30,828 933 28 Collateralized debt obligations 27,470 75 4,208 21 31,678 96 15 Total fixed maturities 263,525 3,914 22,193 1,047 285,718 4,961 252 Common stock 5,950 202 0 0 5,950 202 1 Total available-for-sale securities $ 269,475 $ 4,116 $ 22,193 $ 1,047 $ 291,668 $ 5,163 253 Quality breakdown of fixed maturities: Investment grade $ 239,041 $ 3,605 $ 16,061 $ 399 $ 255,102 $ 4,004 136 Non-investment grade 24,484 309 6,132 648 30,616 957 116 Total fixed maturities $ 263,525 $ 3,914 $ 22,193 $ 1,047 $ 285,718 $ 4,961 252
Schedule of investment income, net of expenses, from portfolios	Interest and dividend income are recognized as earned and recorded to net investment income. Investment income, net of expenses, was generated from the following portfolios: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Fixed maturities $ 6,220 $ 4,858 $ 12,124 $ 9,384 Equity securities 17 47 49 82 Cash equivalents and other 395 321 916 645 Total investment income 6,632 5,226 13,089 10,111 Less: investment expenses 396 335 875 558 Net investment income $ 6,236 $ 4,891 $ 12,214 $ 9,553
Schedule of realized gains and losses on sales of securities recognized in income based upon the specific identification method	Realized gains and losses on sales of securities are recognized in income based upon the specific identification method. Realized gains (losses) on investments were as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Available-for-sale securities: Fixed maturities: Gross realized gains $ 507 $ 438 $ 1,087 $ 572 Gross realized losses (236 ) (209 ) (394 ) (1,792 ) Net realized gains (losses) 271 229 693 (1,220 ) Equity securities: Gross realized losses (145 ) 0 (145 ) (34 ) Net realized losses (145 ) 0 (145 ) (34 ) Trading securities: Common stock: Gross realized gains 0 586 0 586 Decreases in fair value (1) 0 (416 ) 0 (21 ) Net realized gains 0 170 0 565 Miscellaneous: Gross realized gains 0 0 94 0 Gross realized losses (2 ) 0 (2 ) 0 Net realized (losses) gains (2 ) 0 92 0 Net realized investment gains (losses) $ 124 $ 399 $ 640 $ (689 ) (1) The fair value of our common stocks is determined based upon exchange traded prices provided by a nationally recognized pricing service.
Schedule of components of other-than-temporary impairments on investments	The components of other-than-temporary impairments on investments were as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Fixed maturities $ (61 ) $ 0 $ (182 ) $ (345 ) Total other-than-temporary impairments (61 ) 0 (182 ) (345 ) Portion recognized in other comprehensive income 0 0 0 0 Net impairment losses recognized in earnings $ (61 ) $ 0 $ (182 ) $ (345 )
Schedule of limited partnership results, generally reported on a one-quarter lag	Amounts included in equity in earnings of limited partnerships by method of accounting are included below: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Equity in earnings of limited partnerships accounted for under the equity method $ 149 $ 2,058 $ 399 $ 1,342 Change in fair value of limited partnerships accounted for under the fair value option 0 56 (37 ) 102 Equity in earnings of limited partnerships $ 149 $ 2,114 $ 362 $ 1,444 The following table summarizes limited partnership investments by sector: (in thousands) At June 30, 2017 At December 31, 2016 Private equity $ 34,790 $ 35,228 Mezzanine debt 4,908 6,010 Real estate 9,156 12,509 Real estate - fair value option 4,376 4,412 Total limited partnership investments $ 53,230 $ 58,159

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
Retirement Benefits [Abstract]
Schedule of cost of pension plans	The cost of our pension plans are as follows: (in thousands) Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Service cost for benefits earned $ 7,776 $ 7,050 $ 15,553 $ 14,100 Interest cost on benefits obligation 8,568 8,282 17,137 16,563 Expected return on plan assets (10,316 ) (9,880 ) (20,633 ) (19,760 ) Prior service cost amortization 218 174 436 348 Net actuarial loss amortization 2,325 2,027 4,650 4,055 Pension plan cost (1) $ 8,571 $ 7,653 $ 17,143 $ 15,306 (1) Pension plan costs represent the total cost before reimbursements to Indemnity from the Exchange and EFL.

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) by component, including amounts reclassified to other comprehensive income (loss) and the related line item in the Statements of Operations where net income is presented	Changes in accumulated other comprehensive income ("AOCI") (loss) by component, including amounts reclassified to other comprehensive income ("OCI") (loss) and the related line item in the Statements of Operations where net income is presented, are as follows: (in thousands) Three months ended Three months ended June 30, 2017 June 30, 2016 Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI, beginning of period $ 6,293 $ 2,202 $ 4,091 $ 9,219 $ 3,227 $ 5,992 OCI before reclassifications 1,746 611 1,135 4,885 1,710 3,175 Realized investment gains (126 ) (44 ) (82 ) (229 ) (80 ) (149 ) Impairment losses 61 22 39 0 0 0 OCI 1,681 589 1,092 4,656 1,630 3,026 AOCI, end of period $ 7,974 $ 2,791 $ 5,183 $ 13,875 $ 4,857 $ 9,018 Pension and other postretirement plans: (1) AOCI (loss), beginning of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) AOCI (loss), end of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) Total AOCI (loss), beginning of period $ (184,402 ) $ (64,542 ) $ (119,860 ) $ (143,691 ) $ (50,292 ) $ (93,399 ) Investment securities 1,681 589 1,092 4,656 1,630 3,026 Pension and other postretirement plans 0 0 0 0 0 0 OCI 1,681 589 1,092 4,656 1,630 3,026 AOCI (loss), end of period $ (182,721 ) $ (63,953 ) $ (118,768 ) $ (139,035 ) $ (48,662 ) $ (90,373 ) (in thousands) Six months ended Six months ended June 30, 2017 June 30, 2016 Before Tax Income Tax Net Before Tax Income Tax Net Investment securities: AOCI, beginning of period $ 3,954 $ 1,384 $ 2,570 $ 3,888 $ 1,361 $ 2,527 OCI before reclassifications 4,386 1,535 2,851 8,388 2,936 5,452 Realized investment (gains) losses (548 ) (192 ) (356 ) 1,254 439 815 Impairment losses 182 64 118 345 121 224 OCI 4,020 1,407 2,613 9,987 3,496 6,491 AOCI, end of period $ 7,974 $ 2,791 $ 5,183 $ 13,875 $ 4,857 $ 9,018 Pension and other postretirement plans: (1) AOCI (loss), beginning of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) AOCI (loss), end of period $ (190,695 ) $ (66,744 ) $ (123,951 ) $ (152,910 ) $ (53,519 ) $ (99,391 ) Total AOCI (loss), beginning of period $ (186,741 ) $ (65,360 ) $ (121,381 ) $ (149,022 ) $ (52,158 ) $ (96,864 ) Investment securities 4,020 1,407 2,613 9,987 3,496 6,491 Pension and other postretirement plans 0 0 0 0 0 0 OCI 4,020 1,407 2,613 9,987 3,496 6,491 AOCI (loss), end of period $ (182,721 ) $ (63,953 ) $ (118,768 ) $ (139,035 ) $ (48,662 ) $ (90,373 ) (1) There are no comprehensive income items or amounts reclassified out of accumulated other comprehensive loss related to postretirement plan items during interim periods.

Significant Accounting Polici27

Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2017
Revenue recognition
Number of operating revenue streams	2

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Class A
Income available to stockholders (Basic EPS:)
Allocated net income (numerator) (in dollars)	$ 58,048	$ 60,807	$ 105,532	$ 106,327
Weighted shares (denominator) (in shares)	46,180,852	46,188,867	46,184,666	46,188,967
Per-share amount (in dollars per share)	$ 1.26	$ 1.32	$ 2.28	$ 2.30
Dilutive effect of stock-based awards
Allocated net income (numerator) (in dollars)	$ 0	$ 0	$ 0	$ 0
Weighted shares (denominator) (in shares)	17,743	103,195	69,748	168,627
Assumed conversion of Class B shares
Allocated net income (numerator) (in dollars)	$ 479	$ 502	$ 871	$ 877
Weighted shares (denominator) (in shares)	6,100,800	6,100,800	6,100,800	6,100,800
Income available to stockholders on equivalent shares (Diluted EPS:)
Allocated net income (numerator) (in dollars)	$ 58,527	$ 61,309	$ 106,403	$ 107,204
Weighted shares (denominator) (in shares)	52,299,395	52,392,862	52,355,214	52,458,394
Per-share amount (in dollars per share)	$ 1.12	$ 1.17	$ 2.03	$ 2.04
Class B
Reconciliation of the numerators and denominators used in the basic and diluted per-share computations
Ratio for converting shares of Class B common stock into shares of Class A common stock (as a percent)	2400.00%		2400.00%		2400.00%
Income available to stockholders (Basic EPS:)
Allocated net income (numerator) (in dollars)	$ 479	$ 502	$ 871	$ 877
Weighted shares (denominator) (in shares)	2,542	2,542	2,542	2,542
Per-share amount (in dollars per share)	$ 189	$ 197	$ 343	$ 345
Income available to stockholders on equivalent shares (Diluted EPS:)
Allocated net income (numerator) (in dollars)	$ 479	$ 502	$ 871	$ 877
Weighted shares (denominator) (in shares)	2,542	2,542	2,542	2,542
Per-share amount (in dollars per share)	$ 188	$ 197	$ 343	$ 345

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	$ 744,682		$ 713,291
Other investments:
Contributions made to the funds	325	$ 367
Distributions received from the funds	4,344	$ 11,246
Fair value measurements on a recurring basis
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	744,682		713,291
Total	749,058		717,703
Fair value measurements on a recurring basis | Fixed maturities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	744,682		707,341
Fair value measurements on a recurring basis | U.S. treasury
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	5,051		5,031
Fair value measurements on a recurring basis | Government sponsored entities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			2,026
Fair value measurements on a recurring basis | States & political subdivisions
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	262,697		253,132
Fair value measurements on a recurring basis | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	350,180		322,948
Fair value measurements on a recurring basis | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	13,553		16,102
Fair value measurements on a recurring basis | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	34,977		36,849
Fair value measurements on a recurring basis | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	76,224		69,253
Fair value measurements on a recurring basis | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	2,000		2,000
Fair value measurements on a recurring basis | Common stock
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			5,950
Fair value measurements on a recurring basis | Real estate
Fair value measurements on a recurring basis by asset class and level of input
Other investments	4,376		4,412
Fair value measurements on a recurring basis | Level 1
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		5,950
Total	0		5,950
Fair value measurements on a recurring basis | Level 1 | Fixed maturities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | U.S. treasury
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Government sponsored entities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			0
Fair value measurements on a recurring basis | Level 1 | States & political subdivisions
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 1 | Common stock
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			5,950
Fair value measurements on a recurring basis | Level 2
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	735,387		697,989
Total	735,387		697,989
Fair value measurements on a recurring basis | Level 2 | Fixed maturities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	735,387		697,989
Fair value measurements on a recurring basis | Level 2 | U.S. treasury
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	5,051		5,031
Fair value measurements on a recurring basis | Level 2 | Government sponsored entities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			2,026
Fair value measurements on a recurring basis | Level 2 | States & political subdivisions
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	262,697		253,132
Fair value measurements on a recurring basis | Level 2 | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	340,885		313,596
Fair value measurements on a recurring basis | Level 2 | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	13,553		16,102
Fair value measurements on a recurring basis | Level 2 | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	34,977		36,849
Fair value measurements on a recurring basis | Level 2 | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	76,224		69,253
Fair value measurements on a recurring basis | Level 2 | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	2,000		2,000
Fair value measurements on a recurring basis | Level 2 | Common stock
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			0
Fair value measurements on a recurring basis | Level 3
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	9,295		9,352
Total	9,295		9,352
Fair value measurements on a recurring basis | Level 3 | Fixed maturities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	9,295		9,352
Fair value measurements on a recurring basis | Level 3 | U.S. treasury
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 3 | Government sponsored entities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			0
Fair value measurements on a recurring basis | Level 3 | States & political subdivisions
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 3 | Corporate debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	9,295		9,352
Fair value measurements on a recurring basis | Level 3 | Residential mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 3 | Commercial mortgage-backed securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 3 | Collateralized debt obligations
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 3 | Other debt securities
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities	0		0
Fair value measurements on a recurring basis | Level 3 | Common stock
Fair value measurements on a recurring basis by asset class and level of input
Available-for-sale securities			0
Fair value measurements on a recurring basis | Level 3 | Real estate
Other investments:
Contributions made to the funds	0		0
Distributions received from the funds	0		900
Unfunded commitments	$ 0		$ 300
Minimum | Fair value measurements on a recurring basis | Level 3 | Real estate
Other investments:
Underlying assets, liquidation period from inception of fund (in years)	5 years		5 years
Maximum | Fair value measurements on a recurring basis | Level 3 | Real estate
Other investments:
Underlying assets, liquidation period from inception of fund (in years)	10 years		10 years

Fair Value (Details 2)

Fair Value (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair value transfers due to changes in available market observable inputs
Transfers from level 1 to level 2	$ 0	$ 0	$ 0	$ 0
Transfers from level 2 to level 1	0	0	0	0
Level 3
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	9,803	16,858	9,352	8,646
Included in earnings	29	30	(21)	49
Included in other comprehensive income	(23)	57	(48)	72
Purchases	2,110	7,331	3,981	14,392
Sales	(1,283)	(551)	(3,132)	(660)
Transfers into Level 3	3,626	1,660	5,811	2,956
Transfer out of Level 3	(4,967)	(14,331)	(6,648)	(14,401)
Ending balance	9,295	11,054	9,295	11,054
Level 3 | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	9,803	16,858	9,352	8,646
Included in earnings	29	30	(21)	49
Included in other comprehensive income	(23)	57	(48)	72
Purchases	2,110	7,331	3,981	14,392
Sales	(1,283)	(551)	(3,132)	(660)
Transfers into Level 3	3,626	1,660	5,811	2,956
Transfer out of Level 3	(4,967)	(14,331)	(6,648)	(14,401)
Ending balance	9,295	11,054	9,295	11,054
Level 3 | Fixed maturities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	9,803	16,858	9,352	8,646
Included in earnings	29	30	(21)	49
Included in other comprehensive income	(23)	57	(48)	72
Purchases	2,110	7,331	3,981	14,392
Sales	(1,283)	(551)	(3,132)	(660)
Transfers into Level 3	3,626	1,660	5,811	2,956
Transfer out of Level 3	(4,967)	(14,331)	(6,648)	(14,401)
Ending balance	9,295	11,054	9,295	11,054
Level 3 | Corporate debt securities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance	9,803	4,821	9,352	69
Included in earnings	29	30	(21)	45
Included in other comprehensive income	(23)	54	(48)	81
Purchases	2,110	5,131	3,981	8,670
Sales	(1,283)	(551)	(3,132)	(606)
Transfers into Level 3	3,626	1,660	5,811	2,956
Transfer out of Level 3	(4,967)	(2,294)	(6,648)	(2,364)
Ending balance	$ 9,295	8,851	$ 9,295	8,851
Level 3 | Commercial mortgage-backed securities | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance		0		0
Included in earnings		0		0
Included in other comprehensive income		3		3
Purchases		1,000		1,000
Sales		0		0
Transfers into Level 3		0		0
Transfer out of Level 3		0		0
Ending balance		1,003		1,003
Level 3 | Collateralized debt obligations | Available-for-sale securities
Roll forward of level 3 fair value measurements on a recurring basis
Beginning balance		12,037		8,577
Included in earnings		0		4
Included in other comprehensive income		0		(12)
Purchases		1,200		4,722
Sales		0		(54)
Transfers into Level 3		0		0
Transfer out of Level 3		(12,037)		(12,037)
Ending balance		$ 1,200		$ 1,200

Fair Value (Details 3)

Fair Value (Details 3) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair value by pricing source
Available-for-sale securities	$ 744,682	$ 713,291
Fair value measurements on a recurring basis
Fair value by pricing source
Available-for-sale securities	744,682	713,291
Total	749,058	717,703
Fair value measurements on a recurring basis | Fixed maturities
Fair value by pricing source
Available-for-sale securities	744,682	707,341
Fair value measurements on a recurring basis | Fixed maturities | Priced via pricing services
Fair value by pricing source
Available-for-sale securities	744,682
Fair value measurements on a recurring basis | Common stock
Fair value by pricing source
Available-for-sale securities		5,950
Fair value measurements on a recurring basis | Real estate
Fair value by pricing source
Other investments	4,376	4,412
Fair value measurements on a recurring basis | Real estate | Priced via unobservable inputs
Fair value by pricing source
Other investments	4,376
Fair value measurements on a recurring basis | Level 1
Fair value by pricing source
Available-for-sale securities	0	5,950
Total	0	5,950
Fair value measurements on a recurring basis | Level 1 | Fixed maturities
Fair value by pricing source
Available-for-sale securities	0	0
Fair value measurements on a recurring basis | Level 1 | Fixed maturities | Priced via pricing services
Fair value by pricing source
Available-for-sale securities	0
Fair value measurements on a recurring basis | Level 1 | Common stock
Fair value by pricing source
Available-for-sale securities		5,950
Fair value measurements on a recurring basis | Level 2
Fair value by pricing source
Available-for-sale securities	735,387	697,989
Total	735,387	697,989
Fair value measurements on a recurring basis | Level 2 | Fixed maturities
Fair value by pricing source
Available-for-sale securities	735,387	697,989
Fair value measurements on a recurring basis | Level 2 | Fixed maturities | Priced via pricing services
Fair value by pricing source
Available-for-sale securities	735,387
Fair value measurements on a recurring basis | Level 2 | Common stock
Fair value by pricing source
Available-for-sale securities		0
Fair value measurements on a recurring basis | Level 3
Fair value by pricing source
Available-for-sale securities	9,295	9,352
Total	9,295	9,352
Fair value measurements on a recurring basis | Level 3 | Non-binding broker quotes classified within Level 3
Fair value by pricing source
Available-for-sale securities	9,300
Fair value measurements on a recurring basis | Level 3 | Fixed maturities
Fair value by pricing source
Available-for-sale securities	9,295	9,352
Fair value measurements on a recurring basis | Level 3 | Fixed maturities | Priced via pricing services
Fair value by pricing source
Available-for-sale securities	9,295
Fair value measurements on a recurring basis | Level 3 | Common stock
Fair value by pricing source
Available-for-sale securities		$ 0
Fair value measurements on a nonrecurring basis
Fair value by pricing source
Total	$ 0

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Available-for-sale securities
Amortized cost, fixed maturities	$ 735,993
Amortized cost	735,993	$ 708,555
Gross unrealized gains	11,699	9,899
Gross unrealized losses	3,010	5,163
Estimated fair value, fixed maturities	744,682
Estimated fair value	744,682	713,291
Fixed maturities
Available-for-sale securities
Amortized cost, fixed maturities	735,993	702,403
Gross unrealized gains, fixed maturities	11,699	9,899
Gross unrealized losses, fixed maturities	3,010	4,961
Estimated fair value, fixed maturities	744,682	707,341
U.S. treasury
Available-for-sale securities
Amortized cost, fixed maturities	5,082	5,093
Gross unrealized gains, fixed maturities	0	0
Gross unrealized losses, fixed maturities	31	62
Estimated fair value, fixed maturities	5,051	5,031
Government sponsored entities
Available-for-sale securities
Amortized cost, fixed maturities		2,004
Gross unrealized gains, fixed maturities		22
Gross unrealized losses, fixed maturities		0
Estimated fair value, fixed maturities		2,026
States & political subdivisions
Available-for-sale securities
Amortized cost, fixed maturities	255,244	249,312
Gross unrealized gains, fixed maturities	8,211	6,113
Gross unrealized losses, fixed maturities	758	2,293
Estimated fair value, fixed maturities	262,697	253,132
Corporate debt securities
Available-for-sale securities
Amortized cost, fixed maturities	348,531	321,041
Gross unrealized gains, fixed maturities	2,933	3,293
Gross unrealized losses, fixed maturities	1,284	1,386
Estimated fair value, fixed maturities	350,180	322,948
Residential mortgage-backed securities
Available-for-sale securities
Amortized cost, fixed maturities	13,641	16,232
Gross unrealized gains, fixed maturities	58	61
Gross unrealized losses, fixed maturities	146	191
Estimated fair value, fixed maturities	13,553	16,102
Commercial mortgage-backed securities
Available-for-sale securities
Amortized cost, fixed maturities	35,638	37,723
Gross unrealized gains, fixed maturities	92	59
Gross unrealized losses, fixed maturities	753	933
Estimated fair value, fixed maturities	34,977	36,849
Collateralized debt obligations
Available-for-sale securities
Amortized cost, fixed maturities	75,857	68,998
Gross unrealized gains, fixed maturities	405	351
Gross unrealized losses, fixed maturities	38	96
Estimated fair value, fixed maturities	76,224	69,253
Other debt securities
Available-for-sale securities
Amortized cost, fixed maturities	2,000	2,000
Gross unrealized gains, fixed maturities	0	0
Gross unrealized losses, fixed maturities	0	0
Estimated fair value, fixed maturities	$ 2,000	2,000
Common stock
Available-for-sale securities
Amortized cost, equity securities		6,152
Gross unrealized gains, equity securities		0
Gross unrealized losses, equity securities		202
Estimated fair value, equity securities		$ 5,950

Investments (Details 2)

Investments (Details 2) $ in Thousands	Jun. 30, 2017USD ($)
Amortized cost
Due in one year or less	$ 71,180
Due after one year through five years	330,763
Due after five years through ten years	223,344
Due after ten years	110,706
Amortized cost, fixed maturities	735,993
Estimated fair value
Due in one year or less	71,283
Due after one year through five years	334,532
Due after five years through ten years	227,888
Due after ten years	110,979
Estimated fair value, fixed maturities	$ 744,682

Investments (Details 3)

Investments (Details 3) $ in Thousands	Jun. 30, 2017USD ($)Holdings	Dec. 31, 2016USD ($)Holdings
Fair value
Less than 12 months	$ 251,209	$ 269,475
12 months or longer	20,170	22,193
Total	271,379	291,668
Unrealized losses
Less than 12 months	2,194	4,116
12 months or longer	816	1,047
Total	$ 3,010	$ 5,163
No. of holdings | Holdings	286	253
Investment grade
Fair value
Less than 12 months	$ 206,737	$ 239,041
12 months or longer	16,636	16,061
Total	223,373	255,102
Unrealized losses
Less than 12 months	1,487	3,605
12 months or longer	325	399
Total	$ 1,812	$ 4,004
No. of holdings | Holdings	124	136
Non-investment grade
Fair value
Less than 12 months	$ 44,472	$ 24,484
12 months or longer	3,534	6,132
Total	48,006	30,616
Unrealized losses
Less than 12 months	707	309
12 months or longer	491	648
Total	$ 1,198	$ 957
No. of holdings | Holdings	162	116
Fixed maturities
Fair value
Less than 12 months	$ 251,209	$ 263,525
12 months or longer	20,170	22,193
Total	271,379	285,718
Unrealized losses
Less than 12 months	2,194	3,914
12 months or longer	816	1,047
Total	$ 3,010	$ 4,961
No. of holdings | Holdings	286	252
U.S. treasury
Fair value
Less than 12 months	$ 5,051	$ 5,031
12 months or longer	0	0
Total	5,051	5,031
Unrealized losses
Less than 12 months	31	62
12 months or longer	0	0
Total	$ 31	$ 62
No. of holdings | Holdings	1	1
States & political subdivisions
Fair value
Less than 12 months	$ 50,085	$ 84,611
12 months or longer	1,123	0
Total	51,208	84,611
Unrealized losses
Less than 12 months	721	2,293
12 months or longer	37	0
Total	$ 758	$ 2,293
No. of holdings | Holdings	24	40
Corporate debt securities
Fair value
Less than 12 months	$ 143,284	$ 112,453
12 months or longer	6,228	8,692
Total	149,512	121,145
Unrealized losses
Less than 12 months	1,059	987
12 months or longer	225	399
Total	$ 1,284	$ 1,386
No. of holdings | Holdings	211	155
Residential mortgage-backed securities
Fair value
Less than 12 months	$ 4,489	$ 7,451
12 months or longer	4,097	4,974
Total	8,586	12,425
Unrealized losses
Less than 12 months	56	60
12 months or longer	90	131
Total	$ 146	$ 191
No. of holdings | Holdings	8	13
Commercial mortgage-backed securities
Fair value
Less than 12 months	$ 19,545	$ 26,509
12 months or longer	7,702	4,319
Total	27,247	30,828
Unrealized losses
Less than 12 months	292	437
12 months or longer	461	496
Total	$ 753	$ 933
No. of holdings | Holdings	26	28
Collateralized debt obligations
Fair value
Less than 12 months	$ 28,755	$ 27,470
12 months or longer	1,020	4,208
Total	29,775	31,678
Unrealized losses
Less than 12 months	35	75
12 months or longer	3	21
Total	$ 38	$ 96
No. of holdings | Holdings	16	15
Common stock
Fair value
Less than 12 months		$ 5,950
12 months or longer		0
Total		5,950
Unrealized losses
Less than 12 months		202
12 months or longer		0
Total		$ 202
No. of holdings | Holdings		1

Investments (Details 4)

Investments (Details 4) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Investment income from portfolios
Total investment income	$ 6,632	$ 5,226	$ 13,089	$ 10,111
Less: investment expenses	396	335	875	558
Net investment income	6,236	4,891	12,214	9,553
Fixed maturities
Investment income from portfolios
Total investment income	6,220	4,858	12,124	9,384
Equity securities
Investment income from portfolios
Total investment income	17	47	49	82
Cash equivalents and other
Investment income from portfolios
Total investment income	$ 395	$ 321	$ 916	$ 645

Investments (Details 5)

Investments (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Realized investment gains (losses)
Net realized investment gains (losses)	$ 124	$ 399	$ 640	$ (689)
Other-than-temporary impairments on investments
Other-than-temporary impairments on investments	(61)	0	(182)	(345)
Portion recognized in other comprehensive income	0	0	0	0
Net impairment losses recognized in earnings	(61)	0	(182)	(345)
Fixed maturities
Available-for-sale securities:
Gross realized gains	507	438	1,087	572
Gross realized losses	(236)	(209)	(394)	(1,792)
Net realized gains (losses)	271	229	693	(1,220)
Other-than-temporary impairments on investments
Other-than-temporary impairments on investments	(61)	0	(182)	(345)
Equity securities
Available-for-sale securities:
Gross realized losses	(145)	0	(145)	(34)
Net realized gains (losses)	(145)	0	(145)	(34)
Common stock
Trading securities:
Gross realized gains	0	586	0	586
Decreases in fair value	0	(416)	0	(21)
Net realized gains	0	170	0	565
Other investments
Miscellaneous:
Gross realized gains	0	0	94	0
Gross realized losses	(2)	0	(2)	0
Net realized (losses) gains	$ (2)	$ 0	$ 92	$ 0

Investments (Details 6)

Investments (Details 6) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Investments in limited partnerships
Equity in earnings of limited partnerships	$ 149	$ 2,114	$ 362	$ 1,444
Equity method of accounting
Investments in limited partnerships
Equity in earnings of limited partnerships	149	2,058	399	1,342
Fair value option
Investments in limited partnerships
Equity in earnings of limited partnerships	$ 0	$ 56	$ (37)	$ 102

Investments (Details 7)

Investments (Details 7) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Investments in limited partnerships
Asset recorded	$ 53,230	$ 58,159
Private equity
Investments in limited partnerships
Asset recorded	34,790	35,228
Mezzanine debt
Investments in limited partnerships
Asset recorded	4,908	6,010
Real estate
Investments in limited partnerships
Asset recorded	9,156	12,509
Fair value option | Real estate
Investments in limited partnerships
Asset recorded	$ 4,376	$ 4,412

Borrowing Arrangements (Details

Borrowing Arrangements (Details) - Revolving line of credit $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Bank Line of Credit
Maximum borrowing capacity under the bank revolving line of credit	$ 100
Maximum letter of credit sublimit under the bank revolving line of credit	$ 25
Expiration date of the bank revolving line of credit	Nov. 3, 2020
Available borrowing capacity under the bank revolving line of credit, due to outstanding letters of credit	$ 99.1
Outstanding amount of letters of credit under the bank revolving line of credit	0.9
Available amount of letters of credit under the bank revolving line of credit	24.1
Borrowings outstanding under the bank revolving line of credit	0
Fair value of bonds pledged as collateral on the bank revolving line of credit	$ 110.2

Borrowing Arrangements (Detai40

Borrowing Arrangements (Details 2) - Secured debt - USD ($) $ in Millions	Jun. 01, 2018	Dec. 01, 2017	Jun. 01, 2017	Dec. 01, 2016	Jun. 30, 2017
Term loan credit facility
Amount of senior secured draw term loan credit facility					$ 100
Scheduled draws on the credit facility			$ 25	$ 25
Repayment period of credit facility (in years)					28 years
Fixed interest rate of credit facility (as a percent)					4.35%
Quarterly commitment fee on the unused portion of the credit facility (as a percent)					0.08%
Total amount drawn on the credit facility					$ 50
Fair value of bonds pledged as collateral on the credit facility					109.2
Estimated fair value of the credit facility					48.1
Principal payments due in 2019					1.9
Principal payments due in 2020					2
Principal payments due in 2021					2
Principal payments due in 2022					2.1
Principal payments due in 2023 and thereafter					$ 92
Scenario, Forecast [Member]
Term loan credit facility
Scheduled draws on the credit facility	$ 25	$ 25

Postretirement Benefits (Detail

Postretirement Benefits (Details) - Pension plans - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Sep. 30, 2017
Cost of pension plans:
Service cost for benefits earned	$ 7,776	$ 7,050	$ 15,553	$ 14,100
Interest cost on benefits obligation	8,568	8,282	17,137	16,563
Expected return on plan assets	(10,316)	(9,880)	(20,633)	(19,760)
Prior service cost amortization	218	174	436	348
Net actuarial loss amortization	2,325	2,027	4,650	4,055
Pension plan cost	8,571	$ 7,653	$ 17,143	$ 15,306
Erie Insurance Exchange (EIE)
Postretirement Benefits
Postretirement annual benefit expense reimbursed to Indemnity from the Exchange (as a percent)			58.00%
Qualified plan | Funded plan
Postretirement Benefits
Employer contribution			$ 19,000
Qualified plan | Funded plan | Scenario, Forecast [Member]
Postretirement Benefits
Expected additional employer contribution					$ 20,000
Qualified plan | Funded plan | Erie Family Life Insurance Company (EFL)
Postretirement Benefits
Contingent liability for amount of nonparticipating annuity contracts the employee pension plan purchased from EFL	$ 20,200		$ 20,200

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Statutory federal tax rate applied to pretax income (as a percent)	35.00%

Capital Stock (Details)

Capital Stock (Details) - Class B - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Common Stock
Ratio for converting shares of Class B common stock into shares of Class A common stock (as a percent)	2400.00%	2400.00%
Class B common stock shares converted into Class A common stock shares (in shares)	0	0

Capital Stock (Details 2)

Capital Stock (Details 2) - Class A - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Oct. 31, 2011
Shares purchased outside of stock repurchase program
Total cost of shares purchased outside of publicly announced stock repurchase program	$ 6.7
Performance shares
Shares purchased outside of stock repurchase program
Shares purchased outside of publicly announced stock repurchase program for share-based compensation awards (in shares)	55,935
Equity compensation plan
Shares purchased outside of stock repurchase program
Total cost of shares purchased outside of publicly announced stock repurchase program	$ 0.4
Average price per share for shares purchased (in dollars per share)	$ 111.55
Equity compensation plan | Performance shares
Shares purchased outside of stock repurchase program
Shares purchased outside of publicly announced stock repurchase program for share-based compensation awards (in shares)	3,785
Stock compensation plan for outside directors
Shares purchased outside of stock repurchase program
Total cost of shares purchased outside of publicly announced stock repurchase program	$ 0.6
Average price per share for shares purchased (in dollars per share)	$ 118.56
Stock compensation plan for outside directors | Performance shares
Shares purchased outside of stock repurchase program
Shares purchased outside of publicly announced stock repurchase program for share-based compensation awards (in shares)	5,266
Long-term incentive plan
Shares purchased outside of stock repurchase program
Total cost of shares purchased outside of publicly announced stock repurchase program	$ 5.7
Average price per share for shares purchased (in dollars per share)	$ 122.40
Long-term incentive plan | Performance shares
Shares purchased outside of stock repurchase program
Shares purchased outside of publicly announced stock repurchase program for share-based compensation awards (in shares)	46,884
Stock repurchase program
Stock repurchases
Amount of authorized stock repurchases approved for continuation under the current program			$ 150
Shares repurchased under stock repurchase program (in shares)	0	0
Approximate amount of repurchase authority remaining under the current stock repurchase program	$ 17.8

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period			$ (121,381)
OCI	$ 1,092	$ 3,026	2,613	$ 6,491
AOCI (loss), end of period	(118,768)		(118,768)
Investment securities:
Accumulated other comprehensive income (loss), before tax
AOCI (loss), beginning of period	6,293	9,219	3,954	3,888
OCI before reclassifications	1,746	4,885	4,386	8,388
Realized investment (gains) losses	(126)	(229)	(548)	1,254
Impairment losses	61	0	182	345
OCI	1,681	4,656	4,020	9,987
AOCI (loss), end of period	7,974	13,875	7,974	13,875
Accumulated other comprehensive income (loss), tax
AOCI (loss), beginning of period	2,202	3,227	1,384	1,361
OCI before reclassifications	611	1,710	1,535	2,936
Realized investment (gains) losses	(44)	(80)	(192)	439
Impairment losses	22	0	64	121
OCI	589	1,630	1,407	3,496
AOCI (loss), end of period	2,791	4,857	2,791	4,857
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period	4,091	5,992	2,570	2,527
OCI before reclassifications	1,135	3,175	2,851	5,452
Realized investment (gains) losses	(82)	(149)	(356)	815
Impairment losses	(39)	0	(118)	(224)
OCI	1,092	3,026	2,613	6,491
AOCI (loss), end of period	5,183	9,018	5,183	9,018
Pension and other postretirement plans:
Accumulated other comprehensive income (loss), before tax
AOCI (loss), beginning of period	(190,695)	(152,910)	(190,695)	(152,910)
AOCI (loss), end of period	(190,695)	(152,910)	(190,695)	(152,910)
Accumulated other comprehensive income (loss), tax
AOCI (loss), beginning of period	(66,744)	(53,519)	(66,744)	(53,519)
AOCI (loss), end of period	(66,744)	(53,519)	(66,744)	(53,519)
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period	(123,951)	(99,391)	(123,951)	(99,391)
AOCI (loss), end of period	(123,951)	(99,391)	(123,951)	(99,391)
Total
Accumulated other comprehensive income (loss), before tax
AOCI (loss), beginning of period	(184,402)	(143,691)	(186,741)	(149,022)
OCI	1,681	4,656	4,020	9,987
OCI	0	0	0	0
OCI	1,681	4,656	4,020	9,987
AOCI (loss), end of period	(182,721)	(139,035)	(182,721)	(139,035)
Accumulated other comprehensive income (loss), tax
AOCI (loss), beginning of period	(64,542)	(50,292)	(65,360)	(52,158)
OCI	589	1,630	1,407	3,496
OCI	0	0	0	0
OCI	589	1,630	1,407	3,496
AOCI (loss), end of period	(63,953)	(48,662)	(63,953)	(48,662)
Accumulated other comprehensive income (loss), net of tax
AOCI (loss), beginning of period	(119,860)	(93,399)	(121,381)	(96,864)
OCI	1,092	3,026	2,613	6,491
OCI	0	0	0	0
OCI	1,092	3,026	2,613	6,491
AOCI (loss), end of period	$ (118,768)	$ (90,373)	$ (118,768)	$ (90,373)

Related Party (Details)

Related Party (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Related Party Transactions
Rent expense on office space leased from Exchange			$ 14.3
Reimbursements from the Exchange related to rent expense			$ 4.9
Scenario, Forecast [Member]
Related Party Transactions
Rent expense on office space leased from Exchange		$ 17.4
Erie Insurance Exchange (EIE)
Related Party Transactions
Number of field office facilities leased from the Exchange	3

Concentrations of Credit Risk (

Concentrations of Credit Risk (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Concentrations of credit risk from unsecured receivables
Receivables from Erie Insurance Exchange and affiliates	$ 411,422	$ 378,540

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Contractual commitments
Represents the entity's maximum contractual commitments to invest in its limited partnership investments	$ 16.3
Description of commitment: contractual commitment to invest in limited partnership investments	Contractual commitments to invest in limited partnership investments, consisting of private equity securities, mezzanine debt securities, and real estate activities.
Private equity
Contractual commitments
Represents the entity's maximum contractual commitments to invest in its limited partnership investments	$ 6.6
Mezzanine debt
Contractual commitments
Represents the entity's maximum contractual commitments to invest in its limited partnership investments	8.1
Real estate
Contractual commitments
Represents the entity's maximum contractual commitments to invest in its limited partnership investments	$ 1.6

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events (Details) $ in Millions	Jul. 10, 2017USD ($)
Subsequent Event | Maximum
Subsequent Event
Estimated cost of project	$ 100