Erie Indemnity Net Income Up in Quarter, Down for Year

Erie Indemnity Co. on Monday reported a slight increase in fourth quarter 2006 net income, but a decrease for the full year. The company reported a net income of $45.5 million, up 3.1% from $44.2 million in the fourth quarter of 2005. For the full year 2006, Erie Indemnity reported net income of $204 million, down 13.5% from 2005 net income of $231.1 million. Erie said in a press release that net income in the fourth quarter of 2006 was affected by improved revenue from investments, primarily earnings generated from limited partnerships, that offset the declines in income from man...