Erie Indemnity Company (Indemnity) is engaged in managing attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a subscriber owned, Pennsylvania-domiciled, reciprocal insurer that writes property and casualty insurance. The Company operates in four segments, including management operations, property and casualty insurance operations, life insurance operations and investment operations. Management operations segment generate internal management fee revenue, which accrues to the Indemnity shareholder interest. The Property and Casualty operations segment generates revenue, which accrues to the noncontrolling interest. Life insurance operations generate revenue from the sale of individual and group life insurance policies and fixed annuities. Investment operations generate revenue from its fixed maturity, equity security and limited partnership investment portfolios to support its underwriting business.