Erie Indemnity Co., which provides management services to Erie-based Erie Insurance, reported a third-quarter profit of $58.5 million Thursday, up from the $57.3 million the company earned in the third quarter of 2016.
Earnings for the first nine months of the year inched upward from $164.5 million to $164.9 million.
The company's gross margin, or operating profit, also remained strong, at 18.3 percent, down slightly from 19.7 percent in the third quarter of 2016.
The company's quarterly report also suggests it will be paying a substantial tax bill, setting aside $30 million for that purpose.
A strong performance by the stock market also was apparent in the company's latest earnings report. Through the first nine months of the year, the company reported income from investments of $20.6 million. That's up from $14.3 million during the first nine months of 2016.
Erie Insurance, which operates in 12 states and the District of Columbia, has more than 5 million active insurance policies.
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