Erie Insurance CEO Tim NeCastro to Retire, Succession Search Begins
Erie Insurance CEO Tim NeCastro to Retire After Decade of Growth and Community Investment
Erie, Pennsylvania – Tim NeCastro, the chief executive officer of Erie Insurance, announced today his plans to retire at the end of 2026, capping a decade of significant growth for the company and a deepening of its commitment to the Erie community. The announcement comes as Erie Insurance celebrates its centennial year and solidifies its position as a Fortune 500 company.
NeCastro, 65, took the helm in 2016, succeeding Terrence Cavanaugh and becoming only the second non-family member to lead the 100-year-old insurer. Under his leadership, Erie Insurance has experienced substantial expansion, growing to nearly $13 billion in premiums and insuring over 7 million policies nationwide. The company’s revenue growth has propelled it to the 323rd largest company in the nation, according to the most recent Fortune 500 rankings.
“Erie Insurance has shaped not only my career, but my life,” NeCastro said in a statement. “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.”
The company’s board of directors has initiated an immediate search for NeCastro’s successor, according to Matthew Cummings, a spokesperson for Erie Insurance. The search will be a critical undertaking, as NeCastro leaves behind a legacy of not only financial success but also a renewed focus on community engagement.
Building on a Century of Service
NeCastro’s tenure saw the completion of a new, state-of-the-art office building in Erie, a physical manifestation of the company’s commitment to its hometown. He also oversaw significant workforce expansion, making Erie Insurance the largest employer in Erie County, Pennsylvania. In 2023 alone, the company added hundreds of new employees.
Beyond internal growth, NeCastro spearheaded initiatives designed to revitalize the city of Erie. He was instrumental in the creation of the Erie Downtown Development Corporation (EDDC), which has invested $150 million in downtown projects. He also serves as chairman of Infinite Erie, a community investment organization focused on strategic priorities for the region.
“Tim has led the organization with extraordinary kindness and humility,” said Tom Hagen, chairman of Erie Insurance’s board of directors, 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.”
Navigating Challenges and Celebrating Milestones
NeCastro’s leadership wasn’t without its challenges. In the summer of 2025, Erie Insurance faced a network security incident that disrupted computerized operations. NeCastro’s response, reportedly including personally preparing a large batch of meatballs to feed employees working to resolve the issue, exemplified his hands-on and empathetic leadership style.
Despite the disruption, Erie Insurance continued to thrive. In April 2025, NeCastro was invited to ring the opening bell at the Nasdaq Stock Exchange in honor of the company’s 100th anniversary, a symbolic moment recognizing its enduring success.
A Community Leader’s Legacy
Hagen emphasized NeCastro’s dedication to Erie, recalling a conversation shortly after NeCastro’s appointment. “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,” NeCastro recounted in a recent interview. “He said, ‘What is the purpose of being the big kid on the block if you can’t help your community?’”
This philosophy translated into significant philanthropic efforts, including a successful capital campaign to renovate and expand the Experience Children’s Museum, raising $18.5 million. NeCastro and his wife, Lisa, also co-chair the United Way of Erie County’s Uniting for Education endowment campaign.
NeCastro, a graduate of Cathedral Preparatory School and Gannon University, began his career at Erie Insurance in 1996, holding various leadership positions in internal audit, finance, and product development before ascending to the CEO role. He previously worked at Ernst & Young and Plastek Group.
Looking ahead, NeCastro affirmed his continued commitment to the Erie community. “I see my being involved in this community until the day I die. I am never resigning from that role,” he said. His departure marks the end of an era for Erie Insurance, but his legacy of growth, community investment, and compassionate leadership will undoubtedly continue to shape the company and the city for years to come.