Is ERIE halal?
Erie Indemnity Company
Not halal
Erie Indemnity Company did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
239.395
Day
+0.30%
Market cap
$11.77B
Industry
Insurance Brokers
Sector
Financial Services
What the company does
Erie Indemnity manages the Erie Insurance Exchange (a reciprocal insurer), selling auto and home policies through agents. Revenue is a fixed percentage of premiums the exchange collects (a management fee).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Insurance Brokers
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $0 ÷ current market cap $11.77B = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $374.92M ÷ current market cap $11.77B = 3.2%
3.2%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 31.7% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- 0.01% weight · #497 of 503
- Held by funds
- Not held by any tracked fund
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.