Oct 30 (Reuters) - Property and casualty insurer Erie Indemnity ERIE.O 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 .SPX.

(Reporting by Prakhar Srivastava and Anuj T in Bengaluru; Editing by Maju Samuel)

((Prakhar.srivastava2@thomsonreuters.com))