Mercury General

Mercury General Corp. operates as a broker and agency writer of automobile insurance. The firm engages in writing personal automobile insurance and provides related property and casualty insurance products to its customers. Its insurance products include private passenger automobile and related insurance products such as homeowners, commercial automobile and commercial property. The company was founded by George Joseph in 1961 and is headquartered in Los Angeles, CA.

Earnings data Q1 2023

Earnings data Q2 2023

Wilson Pang to Supercharge Technological Innovation Focused on Today's Modern Customers LOS ANGELES , March 6, 2023 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY), a leading provider of property and casualty insurance, has appointed Wilson Pang as Chief Technology Officer (CTO) to lead its technological transformation efforts. Mercury was built on innovation when George Joseph – who founded Mercury more than 60 years ago – transformed the industry with the introduction of segmented pricing for different risk groups.

Mercury Insurance Hires Chief Technology Officer to Drive Digital Strategy

Out of more than 4,200 insurance companies across the U.S., only 46 unique insurance carriers were awarded the designation of top employer. LOS ANGELES , Feb. 16, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) has been recognized as one of America's Best Midsize Employers for 2023 by Forbes.

Forbes Recognizes Mercury Insurance as One of America's Best Midsize Employers for 2023

Mercury General (MCY) delivered earnings and revenue surprises of -137.70% and 0.12%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Mercury General (MCY) Reports Q4 Loss, Lags Revenue Estimates

LOS ANGELES , Feb. 14, 2023 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today the fourth quarter and fiscal 2022 results: Consolidated Highlights Three Months EndedDecember 31, Change Twelve Months EndedDecember 31, Change 2022 2021 $ % 2022 2021 $ % (000's except per-share amounts and ratios) Net premiums earned $ 1,005,482 $ 958,266 $  47,216 4.9 % $ 3,952,482 $ 3,741,948 $  210,534 5.6 % Net premiums written (1) (2) $    915,750 $ 932,678 $ (16,928) (1.8) % $ 3,978,017 $ 3,855,369 $  122,648 3.2 % Net realized investment gains (losses), net of tax (3) $      73,595 $   43,217 $  30,378 70.3 % $  (385,583) $     88,210 $ (473,793) (537.1) % Net (loss) income $       (6,770) $   30,473 $ (37,243) (122.2) % $  (512,672) $   247,937 $ (760,609) (306.8) % Net (loss) income per diluted share (4) $         (0.12) $  0.55 $     (0.67) (121.8) % $        (9.26) $         4.48 $     (13.74) (306.7) % Operating (loss) income (1) $     (80,365) $  (12,744) $ (67,621) NM $ (127,089) $  159,727 $ (286,816) (179.6) % Operating (loss) income per diluted share (1) $         (1.45) $ (0.23) $     (1.22) NM $       (2.30) $        2.88 $       (5.18) (179.9) % Catastrophe losses net of reinsurance (5) $      40,000 $   19,000 $  21,000 110.5 % $  102,000 $  104,000 $     (2,000) (1.9) % Combined ratio (6) 115.8 % 105.4 % — 10.4 pts 108.7 % 98.3 % — 10.4 pts    NM = Not Meaningful (1) These measures are not based on U.S. generally accepted accounting principles ("GAAP"), are defined in "Information Regarding GAAP and Non-GAAP Measures" and are reconciled to the most directly comparable GAAP measures in "Supplemental Schedules." (2)     During 2022, the Company discontinued offering twelve-month private passenger automobile policies on new and renewal businesses in most states where it operates, including California, which contributed to the decrease in net premiums written for the three months ended December 31, 2022 compared to the same period in 2021.

Mercury General Corporation Announces Fourth Quarter and Fiscal 2022 Results and Declares Quarterly Dividend

Mercury General (MCY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Mercury General (MCY) Q4 Earnings Expected to Decline

Developing relationships and serving our communities has helped to become a mainstay in the Golden State LOS ANGELES , Jan. 19, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) is continuing its 60 years celebration of service to Southern California communities by returning to the hockey rink with its 2022-23 Los Angeles Kings partnership. This marks the 15th consecutive year the two have teamed up to give fans and policyholders unique experiences inside and outside of games.

Mercury Insurance to Celebrate 'Community Hero' at LA Kings Home Games

Developing relationships and serving Southern Californians has helped build one of the Golden State's biggest insurance carriers LOS ANGELES , Jan. 19, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) is continuing its 60-year celebration of service to Southern California communities with its 2022-23 sponsorship of the Anaheim Ducks. This marks the eighth consecutive year the two have teamed up to give fans and policyholders unique experiences inside and outside of games.

Mercury Insurance and Anaheim Ducks Celebrate 'Community Champions'

Mercury policyholders can file a claim by calling the claims hotline at (800) 503-3724 LOS ANGELES , Jan. 14, 2023 /PRNewswire/ -- While California continues to experience heavy rains and severe flooding, Mercury Insurance policyholders impacted by recent storms are encouraged to report damages and losses at any time through Mercury's claims hotline at (800) 503-3724.   "We recognize that the recovery process after a big storm can be difficult and an emotional time, but the Mercury claims team is here for our California customers impacted by the severe weather," says Bonnie Lee, Vice President of Property Claims at Mercury Insurance.

Mercury Insurance Ready to Assist California Policyholders Impacted by Recent Storms

LOS ANGELES , Jan. 13, 2023 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, February 14, 2023, the Company will issue an earnings press release reporting its results for the fourth quarter of 2022, and will also file its annual report on Form 10-K with the Securities and Exchange Commission.  The earnings press release should be read in conjunction with the Company's annual report on Form 10-K.

MERCURY GENERAL CORPORATION TO REPORT FOURTH QUARTER RESULTS ON FEBRUARY 14, 2023

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Emma Frommeyer and her family traveled to Los Angeles for a Hollywood concert experience and their first-ever visit to the ocean, courtesy of Mercury Cares LOS ANGELES , Dec. 20, 2022 /PRNewswire/ -- Mercury Insurance has been helping people through the most difficult of times for more than 60 years. Mercury's unwavering commitment to its customers hasn't changed since it first opened its doors in 1962, and over the years that promise to do the right thing has expanded to include a variety of programs through the company's Mercury Cares initiative.

Mercury Insurance partners with The Bear Fund and Cancer Support Community to Make a Dream Come True for a Young Cancer Patient

Mercury's new added protection comes with environmentally-friendly perks, while discounts put hard-earned money back in the pockets of policyholders LOS ANGELES , Dec. 19, 2022 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) today announces four new coverages and five new discounts available for homeowners and renters in Georgia. Mercury's new coverages provide additional insurance protections with an option for environmentally-friendly replacement products.

Mercury Insurance Offers New Coverages and Discounts in Georgia

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Mercury General (MCY) Right Now?

Mercury's new added protection comes with environmentally-friendly perks, while discounts put hard-earned money back in the pockets of policyholders LOS ANGELES , Dec. 12, 2022 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) today announces five new coverages and five new discounts available for homeowners and renters in Oklahoma. Mercury's new coverages provide additional insurance protections with an option for environmentally-friendly replacement products.

Mercury Insurance Offers New Coverages and Discounts in Oklahoma

Mercury named 'Best Shopping and Services' in the insurance category for the Greater Los Angeles Metropolitan Area for 2022 LOS ANGELES , Nov. 29, 2022 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) has been recognized by Los Angeles Times readers as the overall best insurance service in the Southland. The Los Angeles Times invited readers to nominate their favorite businesses for the Times' "Best of the Southland" awards for 2022.

Mercury Insurance Recognized as 'Best of the Southland' by Los Angeles Times' Readers

The average household is expected to spend $1,455 1 on gifts this year. LOS ANGELES , Nov. 22, 2022 /PRNewswire/ -- The holiday season is in full swing across the country and consumers are turning their attention towards shopping for friends and family.

Mercury Offers a Holiday Buyer's Guide for Insurance Savings

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Is Mercury General (MCY) Stock Undervalued Right Now?

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Mercury General took off like a rocket on Friday.

Why Mercury General Stock Soared 26% This Week

Shares of Mercury General Corp. MCY, +12.92% charged up 12.9% toward a three-month high in afternoon trading Friday, after automobile insurance broker and agency writer received a triple upgrade from Raymond James analyst Gregory Peters, who said he expects the California auto rate log jam to break. The stock has now run up TK% since the company reported a surprise third-quarter profit, according to FactSet.

Mercury General stock charges up toward 3-month higher after triple upgrade at Raymond James

Mercury General (MCY) delivered earnings and revenue surprises of 150.91% and 0.62%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Mercury General (MCY) Q3 Earnings Top Estimates

LOS ANGELES , Nov. 1, 2022 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today for the third quarter of 2022: Consolidated Highlights Three Months Ended September 30, Change Nine Months Ended September 30, Change 2022 2021 $ % 2022 2021 $ % (000's except per-share amounts and ratios) Net premiums earned  $     996,939 $     940,941 $   55,998 6.0 $  2,947,000 $  2,783,682 $    163,318 5.9 Net premiums written (1) $  1,034,476 $  1,014,967 $   19,509 1.9 $  3,062,267 $  2,922,691 $    139,576 4.8 Net realized investment (losses) gains, net of tax (2) $    (113,928) $      (34,399) $  (79,529) NM $    (459,177) $       44,993 $   (504,170) (1,120.6) Net (loss) income $      (98,303) $         1,288 $  (99,591) (7,732.2) $    (505,902) $     217,464 $   (723,366) (332.6) Net (loss) income per diluted share (3) $          (1.78) $           0.02 $      (1.80) (9,000.0) $          (9.14) $           3.93 $       (13.07) (332.6) Operating income (loss) (1) $       15,625 $       35,687 $  (20,062) (56.2) $      (46,725) $     172,471 $   (219,196) (127.1) Operating income (loss) per diluted share (1) $           0.28 $           0.64 $      (0.36) (56.3) $          (0.84) $           3.11 $         (3.95) (127.0) Catastrophe losses net of reinsurance (4) $       19,000 $       25,000 $    (6,000) (24.0) $       62,000 $       85,000 $     (23,000) (27.1) Combined ratio (5) 102.8 % 99.0 % —      3.8  pts 106.3 % 95.8 % — 10.5  pts NM = Not Meaningful (1) These measures are not based on U.S. generally accepted accounting principles ("GAAP"), are defined in "Information Regarding GAAP and Non-GAAP Measures" and are reconciled to the most directly comparable GAAP measures in "Supplemental Schedules." (2) Net realized investment (losses) gains before tax were $(144) million and $(44) million for the three months ended September 30, 2022 and 2021, respectively, and $(581) million and $57 million for the nine months ended September 30, 2022 and 2021, respectively.

Mercury General Corporation Announces Third Quarter Results and Declares Quarterly Dividend

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