Erie Insurance CEO Tim NeCastro to Retire After 10 Years

Succession search begins as company celebrates centennial year and Fortune 500 status

Published on Feb. 25, 2026

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Tim NeCastro, the CEO of Erie Insurance, announced plans to retire at the end of 2026 after leading the company through a decade of significant growth and deepening its commitment to the Erie, Pennsylvania community. Under NeCastro's leadership, Erie Insurance grew to nearly $13 billion in premiums and 7 million policies nationwide, propelling it to the 323rd largest company in the Fortune 500. The company's board has initiated a search for NeCastro's successor.

Why it matters

NeCastro's retirement marks the end of an era for Erie Insurance, which has been a pillar of the Erie community for 100 years. His tenure saw not only financial success, but also a renewed focus on community engagement, including the creation of the Erie Downtown Development Corporation and Infinite Erie, a community investment organization. His departure will be a critical transition for the company as it looks to build on his legacy.

The details

NeCastro, 65, took over as CEO in 2016, becoming only the second non-family member to lead the 100-year-old insurer. During his tenure, Erie Insurance experienced substantial expansion, growing to nearly $13 billion in premiums and insuring over 7 million policies nationwide. The company's revenue growth propelled it to the 323rd largest company in the nation, according to the most recent Fortune 500 rankings. NeCastro also oversaw the completion of a new, state-of-the-art office building in Erie and significant workforce expansion, making Erie Insurance the largest employer in Erie County.

  • NeCastro announced his plans to retire at the end of 2026.
  • NeCastro took over as CEO in 2016, succeeding Terrence Cavanaugh.
  • In 2023, Erie Insurance added hundreds of new employees.
  • In April 2025, NeCastro rang the opening bell at the Nasdaq Stock Exchange in honor of the company's 100th anniversary.
  • In the summer of 2025, Erie Insurance faced a network security incident that disrupted computerized operations.

The players

Tim NeCastro

The chief executive officer of Erie Insurance who announced plans to retire at the end of 2026 after leading the company through a decade of significant growth and deepening its commitment to the Erie, Pennsylvania community.

Terrence Cavanaugh

The previous CEO of Erie Insurance, whom NeCastro succeeded in 2016.

Matthew Cummings

A spokesperson for Erie Insurance who announced that the company's board of directors has initiated an immediate search for NeCastro's successor.

Tom Hagen

The chairman of Erie Insurance's board of directors, who praised NeCastro's leadership and the closing of a defining chapter in the company's story.

Lisa NeCastro

Tim NeCastro's wife, who co-chairs the United Way of Erie County's Uniting for Education endowment campaign.

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What they’re saying

“Erie Insurance has shaped not only my career, but my life. 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.”

— Tim NeCastro, CEO, Erie Insurance (newsdirectory3.com)

“Tim has led the organization with extraordinary kindness and humility. 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.”

— Tom Hagen, Chairman, Erie Insurance Board of Directors (newsdirectory3.com)

“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?'”

— Tim NeCastro (newsdirectory3.com)

What’s next

The Erie Insurance board of directors has initiated an immediate search for Tim NeCastro's successor as CEO. The search will be a critical undertaking, as NeCastro leaves behind a legacy of financial success and community engagement.

The takeaway

Tim NeCastro's retirement from Erie Insurance marks the end of an era for the 100-year-old company, which has thrived under his leadership and deepened its commitment to the Erie, Pennsylvania community. His successor will have big shoes to fill as they work to build on NeCastro's legacy of growth, community investment, and compassionate leadership.