Oct 30 (Reuters) - Property and casualty insurer Erie

Indemnity ( ERIE ) reported a rise in third-quarter profit on

Thursday, boosted by solid gains in investment income and

management fees.

Resilient consumer spending has helped sustain insurance

demand, as businesses and households continue to prioritize

protection against financial risks, accidents, property damage

and natural disasters.

The company's management fee revenue from policy issuance

and renewal services rose 7.3% to $825.3 million in the third

quarter from a year ago.

Net investment income also rose 21.4% to $21 million in the

quarter.

Insurers' portfolios are typically weighted toward bonds,

which generate better returns in a high interest rate

environment.

Net income was $182.86 million, or $3.50 per share, in the

three months ended September 30, compared with $159.83 million,

or $3.06 per share, a year earlier.

The stock has fallen 24.9% so far this year, compared with a

17.2% gain in the benchmark S&P 500 index.