Erie Insurance has announced a significant leadership transition as President and Chief Executive Officer Tim NeCastro prepares to retire at the close of 2026. The decision marks the culmination of a distinguished 30-year journey with the Pennsylvania-based insurance provider, including a decade at the helm as CEO.
NeCastro's tenure at Erie Insurance began in 1996 when he joined the company in a professional capacity that would eventually lead him through various critical departments. Over the years, he ascended through senior leadership positions spanning internal audit, finance, product and policy services, and regional field operations. This comprehensive background provided him with deep institutional knowledge and a multifaceted understanding of the organization's inner workings before his promotion to the chief executive role in 2016. His progression through these diverse functions equipped him with unique insights into risk management, financial stewardship, product development, and operational excellence—foundational elements that would later define his CEO leadership style.
Under NeCastro's strategic direction over the past ten years, Erie Insurance experienced remarkable expansion and financial stability. The company grew its premium volume to nearly $13 billion while building a robust portfolio exceeding 7 million active policies. Throughout this growth phase, the organization maintained its reputation for strong financial performance and unwavering dedication to customer service—core principles that have defined Erie Insurance since its inception. This balance of aggressive growth with financial prudence and service quality represents one of the hallmarks of his executive leadership.
Tom Hagen, chairman of the board, offered high praise for NeCastro's leadership approach and character. "Tim has led the organization with extraordinary kindness and humility," Hagen remarked. "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." Such commendation from board leadership underscores the cultural impact NeCastro had beyond financial metrics.
The outgoing CEO's impact extended beyond corporate metrics into meaningful geographic expansion. In 2014, NeCastro spearheaded the company's strategic entry into Kentucky, establishing Erie Insurance's presence in its 12th state market. This move demonstrated his forward-thinking approach to growth while maintaining the company's selective, value-driven expansion strategy. The Kentucky launch required careful market analysis, regulatory navigation, and agency network development—complex undertakings that showcased his operational expertise.
One of the most significant milestones during NeCastro's leadership was guiding the organization through its centennial celebration in 2025. The 100-year anniversary represented not only a historic achievement but also an opportunity to reinforce the company's foundational values and service promise to customers, agents, and employees alike. His emphasis on caring for all stakeholders became a hallmark of his executive philosophy, creating an environment where people felt valued beyond their immediate contributions.
Beyond his corporate responsibilities, NeCastro maintained deep roots in the Erie community. As an Erie native, he actively participated in local economic development initiatives, most notably as the founding board president of the Erie Downtown Development Corp. This organization has played a pivotal role in driving investment and revitalization efforts in the city's urban core, transforming underutilized spaces into vibrant community assets. His civic engagement also included leadership and advisory positions with various philanthropic and industry organizations at local, state, and national levels, reflecting his broad commitment to community betterment and industry advancement.
Reflecting on his career, NeCastro expressed profound gratitude for his experiences at the company. "Erie Insurance has shaped not only my career, but my life," he stated. "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."
The transition plan ensures continuity and ongoing leadership presence. Following his retirement as CEO on December 31, 2026, NeCastro will assume the role of president of the Erie Insurance Foundation. This private charitable foundation focuses on long-term philanthropic giving and community impact initiatives aligned with the company's core values. The foundation supports education, community development, and safety programs throughout the regions where Erie Insurance operates. The move allows him to maintain his connection to the organization while dedicating his efforts to social responsibility and community investment, areas that have always been close to his heart.
The board of directors has initiated an immediate and comprehensive search process to identify NeCastro's successor. With nearly a full year until the transition date, the timeline allows for a thorough and deliberate selection process. The board will likely engage executive search firms, conduct internal and external candidate assessments, and evaluate leadership competencies essential for navigating the evolving insurance landscape. NeCastro will remain fully engaged in his CEO duties throughout 2026, ensuring seamless operations and providing stability during the search and onboarding period. This extended transition window demonstrates thoughtful succession planning and minimizes potential disruption.
This leadership change represents a significant moment for Erie Insurance as it balances honoring a legacy of consistent, values-driven management with preparing for future evolution. The company's strong market position, built during NeCastro's tenure, provides a solid foundation for the incoming leadership to build upon. The board's proactive approach to succession planning demonstrates organizational maturity and commitment to maintaining continuity of vision while remaining open to new strategic directions.
Industry observers note that NeCastro's retirement announcement follows a growing trend of long-tenured insurance executives transitioning toward roles focused on corporate social responsibility and community engagement. His move to foundation leadership reflects an increasing recognition of the insurance industry's role in broader societal impact beyond traditional risk management and financial services. This evolution acknowledges that modern insurance companies must be active community partners addressing social challenges.
The timing of the announcement also provides stakeholders—including employees, agents, policyholders, and investors—with clear visibility into the company's leadership pipeline. This transparency helps maintain confidence in the organization's strategic direction during the transition period. Erie Insurance's consistent performance under NeCastro's guidance has established a track record that should serve the company well as it enters this new chapter, providing reassurance to all constituencies.
As the search for a new CEO progresses, the organization will likely seek a candidate who can maintain the cultural values NeCastro championed while bringing fresh perspectives to address evolving challenges in the insurance marketplace. These include digital transformation, changing customer expectations, climate risk assessment, and competitive pressures in the property and casualty sector. The ideal candidate will need to balance innovation with the personal touch that has differentiated Erie Insurance from larger, more impersonal competitors.
For now, the focus remains on celebrating NeCastro's contributions and ensuring a smooth transition that preserves the company's distinctive culture. His legacy of combining business acumen with genuine care for people has left an indelible mark on Erie Insurance's identity. The foundation role will enable him to continue influencing the company's community impact for years to come, albeit in a different capacity, while mentoring the next generation of leaders.
The retirement of Tim NeCastro closes a significant chapter in Erie Insurance's history while simultaneously opening a new avenue for his continued service. As 2026 progresses, all eyes will be on both the foundation's initiatives under his leadership and the board's selection of the next chief executive who will inherit a thriving, values-driven organization positioned for continued success in the competitive insurance landscape. His story exemplifies how modern business leaders can successfully integrate profitability with purpose, creating lasting value for multiple stakeholders.