Tim NeCastro, the celebrated leader at the helm of Erie Insurance, has made the decision to retire, leaving behind a legacy of growth, community revitalization, and service. NeCastro, 65 years old, will step down at the end of this year, prompting the company's board of directors to initiate the search for his successor, as confirmed by Erie Insurance spokesman Matthew Cummings.
A native of Erie and a graduate of Gannon University, Tim NeCastro took the reins at Erie Insurance in 2016, succeeding Terrence Cavanaugh. NeCastro’s tenure saw remarkable achievements as Erie Insurance soared to nearly $13 billion in premiums and over 7 million policies in force. The company's emergence as a Fortune 500 member for over two decades, ranking recently as the nation's 323rd largest company by revenue, is a testament to his leadership.
Under NeCastro’s guidance, Erie Insurance not only expanded its workforce but also constructed the impressive $147 million Thomas B. Hagen Building. Furthermore, NeCastro spearheaded a significant renovation of the F.W. Hirt Perry Square Building, showcasing a commitment to modernizing the company's infrastructure.
Despite facing challenges like a network security incident disrupting operations, NeCastro's leadership was characterized by resilience and a hands-on approach. Known for his generosity, NeCastro extended a helping hand to those affected by the incident, epitomizing his dedication to both his employees and his community.
Beyond his corporate responsibilities, NeCastro was deeply involved in community initiatives. His pivotal role in launching the Erie Downtown Development Corp., which has invested $150 million in downtown development, underscores his commitment to Erie’s growth and prosperity. NeCastro also served as chairman of Infinite Erie's board of managers, aligning with a vision for holistic community development.
Tim NeCastro's philanthropic endeavors alongside his wife, Lisa NeCastro, have left an indelible mark on Erie. Their leadership in fundraising for projects like the Experience Children’s Museum renovation and expansion, as well as their involvement in the United Way of Erie County’s Uniting for Education endowment campaign, reflect a dedication to improving the lives of others in the community.
Tom Hagen, chairman of Erie Insurance's board of directors, hailed NeCastro’s leadership and community impact. Describing NeCastro as a model of kindness and humility, Hagen emphasized the significant contributions NeCastro has made both within the company and beyond. NeCastro's commitment to service and community development underscores a leadership style centered on people and values.
Reflecting on his career at Erie Insurance, NeCastro expressed deep gratitude for the meaningful experiences and relationships that shaped his journey. While NeCastro is transitioning into retirement, he affirms his continued dedication to serving Erie and its residents, ensuring his enduring legacy of service and impact in the community.
In his own words, "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. 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."
As Erie Insurance embarks on a new chapter post-NeCastro, his departure marks the end of an era characterized by growth, innovation, and community engagement. NeCastro’s enduring impact on Erie’s landscape and his unwavering commitment to shaping a better future for the region will be remembered for years to come.