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. Indemnity�s primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange. Erie Family Life Insurance Company (EFL) is an affiliated life insurance company that underwrites and sells individual and group life insurance policies and fixed annuities. All property and casualty and life insurance operations are owned by the Exchange, and Indemnity functions solely as the management company. The Company operates its business in four segments: management operations, property and casualty insurance operations, life insurance operations and investment operations.