Erie Insurance employees celebrate a century of steady growth
Erie Insurance serves customers in 12 states and the District of Columbia and employs more than 6,500 people in Erie and field offices.
- Tim NeCastro, CEO of Erie Insurance, has announced his retirement effective at the end of the year.
- Under his leadership, the company experienced significant growth in revenue, employment, and policies.
- The company’s board of directors will begin an immediate search for his successor.
Tim NeCastro — the homegrown talent who led Erie Insurance through a pandemic, built a new office building, grew revenues and employment and helped launch a community revitalization — has announced his retirement.
NeCastro, 65, plans to step down at the end of this year.
The company’s board of directors will immediately begin the process of identifying his successor, said Matthew Cummings, spokesman for Erie Insurance.
A Gannon University graduate and trained accountant, NeCastro was named in 2016 to replace Terrence Cavanaugh, the only outsider to lead the 100-year-old company.
Erie Insurance, which ranks as Erie County’s largest employer, has been a member of the Fortune 500 for more than 20 years, ranking most recently as the nation’s 323rd largest company by revenue.
Under NeCastro’s leadership, the company grew to nearly $13 billion in premiums and more than 7 million policies in force.
Erie Insurance also raised its profile during that time, winning numerous industry awards and being named to the S&P 500 Index in 2024. In April of 2025, in honor of the company’s 100th anniversary, NeCastro was asked to ring the opening bell on Nasdaq.
Over the past decade, the company expanded its workforce in Erie, built the $147 million Thomas B. Hagen Building and launched a major renovation of the F.W. Hirt Perry Square Building.
The company also weathered a storm this past summer when a network security incident caused a disruption of computerized operations.
NeCastro, known for giving gifts of homemade pizzelles for the holidays, made a giant batch of meatballs to help feed those who were working on the problem.
NeCastro has played role as community leader
Outside the company, NeCastro might be best remembered for the leadership role he has assumed in the Erie community.
Tom Hagen, the chairman of the company’s board of directors, introduced NeCastro as the company’s new leader 10 years ago after what he called a “thorough and deliberate process.”
Within a few months, NeCastro said in a recent interview with the Erie Times-News, Hagen spoke with him about expanding his role.
“I can remember Mr. Hagen telling me your role is not just to run the company. It’s to (help) the company get the community out of the gutter.”
“He said, ‘What is the purpose of being the big kid on the block if you can’t help your community?'” NeCastro said.
That expanded job description led NeCastro and Erie Insurance to launch what became the Erie Downtown Development Corp., which has invested $150 million in downtown development. It also has led NeCastro into a role as chairman of Infinite Erie’s board of managers. Infinite Erie was crafted as a playbook for Erie community investment priorities that launched in 2022.
Along with his work on local revitalization efforts, NeCastro and his wife, Lisa NeCastro, are also avid supporters of charitable causes. They led the capital campaign to renovate and expand the Experience Children’s Museum in 2023, helping to raise $18.5 million for the project. They serve as co-chairs for United Way of Erie County’s Uniting for Education endowment campaign to support the organization’s Community Schools model.
“Tim has led the organization with extraordinary kindness and humility,” Hagen said in a statement. “He has been a consistent model for The ERIE’s values — always putting people and service first. This is more than just a leadership transition — it marks the closing of a defining chapter in our company’s story.”
Hagen continued: “Beyond his leadership here at The ERIE, Tim has been a tireless advocate for our community. His work as the founding president of the Erie Downtown Development Corporation has brought millions of dollars of investment into the revitalization of our downtown, and his dedication to other organizations and initiatives throughout our city reflect his deep belief in service that extends beyond our company.”
In a recent interview, NeCastro said his work with community organizations would continue after his eventual retirement.
In that interview, he said, “I see my being involved in this community until the day a die. I am never resigning from that role.”
A graduate of Cathedral Preparatory School, NeCastro worked at both the accounting firm Ernst & Young and as director of finance for the Erie-based Plastek Group.
He joined Erie Insurance in 1996 and held senior leadership roles in internal audit, finance, product and policy services, and regional field operations.
He reflected on his Erie Insurance career in a statement.
“Erie Insurance has shaped not only my career, but my life,” he said. “I’ve been fortunate to work alongside people who care deeply about one another, about our customers, and about the communities we serve. While this chapter is coming to a close, my commitment to ERIE and to this community isn’t ending.”
I’m grateful for the opportunity to continue serving in a new way and to stay connected to the place and people that mean so much to me.”
Contact Jim Martin at [email protected].
