(Reuters) - Erie Indemnity said on Thursday its first-quarter profit rose 11%, as the property and casualty insurer raked in higher fees from policies and earned more returns on its investments.

Insurance spending remained resilient in the reported quarter amid economic and environmental uncertainties. The need to protect assets and ensure business continuity has sustained demand, even though discretionary spending has taken a hit.

The Pennsylvania-based company reported a 12.3% jump in operating revenue, helped by a 13.4% rise in management fee revenue from policy issuance and renewal services.

The company is the 17th largest property/casualty insurer in the United States based on total lines net premiums written, according to its release.

Erie's net investment income came in at $19.95 million in the first three months of 2025, up from $15.90 million last year.

The company posted net income of $138.4 million, or $2.65 per share, for the quarter ended March 31, up from $124.6 million, or $2.38 per share, in the year ago period.

(Reporting by Pritam Biswas in Bengaluru; Editing by Shailesh Kuber)