Feb. 20, 2026, 11:01 a.m. ET
- Erie Insurance CEO, Tim NeCastro, is set to retire by year-end.
- During his tenure, the company saw substantial increases in revenue, workforce, and policy numbers.
- The company’s board will promptly commence the search for a new leader.
Tim NeCastro, an Erie native who guided Erie Insurance through a global health crisis, oversaw the construction of new premises, boosted earnings and staff numbers, and initiated urban renewal efforts, has declared his retirement.
NeCastro, aged 65, intends to vacate his position by the close of the current year.
According to Matthew Cummings, Erie Insurance spokesman, the company’s board will promptly initiate the selection process for NeCastro’s replacement.
A Gannon University alumnus and a qualified accountant, NeCastro took the helm in 2016, succeeding Terrence Cavanaugh, who was the sole non-internal leader in the 100-year history of the organization.
Erie Insurance, the largest employer in Erie County, has maintained its status in the Fortune 500 for over two decades, recently holding the 323rd position nationally based on revenue.
During NeCastro’s tenure, the firm expanded its operations to nearly $13 billion in premiums and surpassed 7 million active policies.
Erie Insurance also enhanced its reputation under his guidance, earning multiple industry accolades and joining the S&P 500 Index in 2024. To mark the company’s centennial in April 2025, NeCastro had the honor of ringing the Nasdaq opening bell.
Over the last ten years, the company enlarged its Erie-based staff, erected the $147 million Thomas B. Hagen Building, and commenced a substantial overhaul of the F.W. Hirt Perry Square Building.
Last summer, the company also successfully navigated a challenge when a network security breach interrupted its digital systems.
NeCastro, who is known for presenting homemade pizzelles during the holidays, prepared a large quantity of meatballs to nourish staff addressing the issue.
NeCastro’s Influence as a Community Figure
Beyond his corporate responsibilities, NeCastro will likely be most recalled for his significant leadership contributions within the Erie community.
A decade ago, Tom Hagen, chairman of the company’s board, presented NeCastro as the new leader following what he described as a “meticulous and intentional selection process.”
NeCastro disclosed in a recent Erie Times-News interview that Hagen discussed expanding his responsibilities with him within a few months.
“I recall Mr. Hagen informing me that my role extended beyond managing the company; it also involved aiding the company in uplifting the community,” he stated.
“He questioned, ‘What good is it to be the dominant entity in the area if you aren’t able to assist your community?'” NeCastro recounted.
This broader mandate prompted NeCastro and Erie Insurance to establish the Erie Downtown Development Corp., an entity that has channeled $150 million into urban renewal. Furthermore, it positioned NeCastro as chairman of Infinite Erie’s board of managers, a strategic framework for Erie’s community investment objectives introduced in 2022.
In addition to his contributions to local revitalization, NeCastro and his wife, Lisa NeCastro, are enthusiastic philanthropists. In 2023, they spearheaded the capital campaign to refurbish and enlarge the Experience Children’s Museum, raising $18.5 million. They also co-chair the United Way of Erie County’s Uniting for Education endowment campaign, which backs the organization’s Community Schools initiative.
“Tim has guided the organization with exceptional benevolence and modesty,” Hagen declared in a statement. “He has consistently embodied The ERIE’s core values, prioritizing people and service above all. This isn’t merely a change in leadership; it signifies the conclusion of a pivotal era in our company’s history.”
Hagen further commented: “Apart from his leadership at The ERIE, Tim has been a relentless champion for our community. As the founding president of the Erie Downtown Development Corporation, his efforts have drawn millions in investment for our downtown’s revival, and his commitment to various city organizations and projects underscores his profound conviction in service beyond corporate boundaries.”
NeCastro stated in a recent interview that his engagement with community groups would persist even after his forthcoming retirement.
During that discussion, he declared, “I envision myself contributing to this community until my dying day. I will never relinquish that commitment.”
NeCastro, an alumnus of Cathedral Preparatory School, held positions at the accounting firm Ernst & Young and served as director of finance for the Plastek Group, located in Erie.
He commenced his career at Erie Insurance in 1996, where he advanced to senior leadership positions across internal audit, finance, product and policy services, and regional field operations.
In a statement, he reflected upon his career at Erie Insurance.
“Erie Insurance has profoundly influenced not just my professional path but my entire existence,” he commented. “I’ve had the privilege of collaborating with individuals who possess genuine concern for each other, for our clientele, and for the communities we support. Though this phase is concluding, my dedication to ERIE and to this community remains steadfast.”
“I am thankful for the chance to persist in serving through a different capacity and to maintain ties with the location and individuals I cherish so deeply.”
Reach Jim Martin at [email protected].