Finance History|Nasdaq MarketSite — Class A for an Attorney-in-Fact Called ERIE
· 1995-10
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Finance History|Nasdaq MarketSite — Class A for an Attorney-in-Fact Called ERIE
kevin
People treat Erie Indemnity as a Pennsylvania insurer that always printed ERIE after a finished underwriting book.
The October 1995 issuer was Erie Indemnity Company, incorporated in Pennsylvania on 17 April 1925 as the attorney-in-fact for subscribers at the Erie Insurance Exchange.
The Exchange is a reciprocal. Policyholders insure one another. The listed company does not keep the underwriting risk. It runs the Exchange for a contractual management fee.
FinanceCharts records the first public session as 2 October 1995. The Class A non-voting common still trades on Nasdaq under ERIE. Class B voting stock has no established public market.
Nasdaq later marked the thirtieth year of that listing at MarketSite on 28 April 2025, when the company also marked a century of the Exchange.
A 3-for-1 split of the Class A shares took effect on 13 May 1996. That is the only split in the public record.
The mechanism is a fee company, not a risk book, crossing onto an electronic tape. Holders bought the right to collect the Exchange's management charge. They did not buy the subscribers' surplus.
Nasdaq MarketSite at 4 Times Square opened on 1 January 2000, after ERIE was already on the National Market. The pin is that later public facade. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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