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 Q4 2023

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Mercury's new umbrella insurance better protects Californians' personal wealth  against bodily injury claims LOS ANGELES , Sept. 14, 2023 /PRNewswire/ -- Multi-vehicle crashes, dog bites or a delivery person being injured on your property are some of the unexpected events that are putting Californians' personal financial health at risk.

Bodily Injury Costs Increase in California, According to Mercury Insurance

Cameron Nordholm joins Mercury as Head of Technical Product with the aim of accelerating carrier's development of solutions for customers, agents and team members LOS ANGELES , Sept. 13, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY), a leading provider of property and casualty insurance, has appointed Cameron Nordholm as its Head of Technical Product to help lead the company's digital transformation.

Mercury Insurance Continues to Transform Technology and Innovation Practice with Industry Leading Talent

Mercury offers tips to help auto and homeowners protect their families and property before severe weather arrives   LOS ANGELES , Aug. 29, 2023 /PRNewswire/ -- In anticipation of Hurricane Idalia, hurricane and tropical storm warnings have gone into effect for areas of South Georgia. Mercury Insurance (NYSE: MCY) is urging residents to take precautions and prepare themselves, their families and property in advance of Idalia's arrival.

Mercury Insurance Advises Policyholders to Prepare for Hurricane Idalia

Policyholders can report claims anytime online through Mercury's automated digital experience or through the claims hotline at 800-503-3724 LOS ANGELES , Aug. 29, 2023 /PRNewswire/ -- Mercury Insurance is ready to assist Floridians impacted by Tropical Storm Idalia with their auto claims. Mercury customers can report their loss or damage online anytime through Mercury's automated digital experience by submitting a claim at mercuryinsurance.com/claims/ or by calling the claims hotline at (800) 503-3724.

Mercury Insurance Ready to Assist Policyholders Impacted by Tropical Storm Idalia

Mercury offers tips to help policyholders protect their families and property before severe weather arrives LOS ANGELES , Aug. 18, 2023 /PRNewswire/ -- In anticipation of Hurricane Hilary, tropical storm watches have gone into effect for parts of Southern California, including the area stretching from the California-Mexico border to the Orange County-Los Angeles County line, and for Catalina Island. Mercury Insurance (NYSE: MCY) is urging Southern California residents in these areas to take precautions and prepare themselves, their families and property in advance of Hilary's arrival.

Mercury Insurance Advises Homeowners to Prepare for Hurricane Hilary

Mercury General Corporation's share price has dropped nearly 25% in the last 12 months due to lackluster results and a poor margin profile. The company operates in the property and casualty insurance industry and has struggled to reach profitability since the US government lifted claims restrictions in 2020. MCY's net premiums written are increasing, but its negative ROE and growing combined ratio are concerning, making it a risky investment.

Mercury General Corporation - Not A Lot To Be Excited About

Mercury General (MCY) came out with a quarterly loss of $0.47 per share versus the Zacks Consensus Estimate of a loss of $0.48. This compares to loss of $0.35 per share a year ago.

Mercury General (MCY) Reports Q2 Loss, Tops Revenue Estimates

LOS ANGELES , Aug. 1, 2023 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today for the second quarter of 2023: Consolidated Highlights Three Months Ended June 30, Change Six Months Ended June 30, Change 2023 2022 $ % 2023 2022 $ % (000's except per-share amounts and ratios) Net premiums earned  $  1,034,469 $     987,512 $   46,957 4.8 $ 2,039,173 $  1,950,062 $   89,111 4.6 Net premiums written (1)  $  1,115,345 $  1,016,994 $   98,351 9.7 $ 2,125,546 $  2,027,791 $   97,755 4.8 Net realized investment (losses) gains, net of tax (2) $     (15,625) $   (191,131) $ 175,506 NM $     23,091 $                (345,249) $ 368,340 NM Net loss $     (41,543) $   (210,681) $ 169,138 NM $   (86,831) $                (407,599) $ 320,768 NM Net loss per diluted share (3) $        (0.75) $        (3.80) $      3.05 NM $      (1.57) $     (7.36) $      5.79 NM Operating loss (1) $     (25,918) $     (19,550) $   (6,368) NM $ (109,922) $  (62,350) $ (47,572) NM Operating loss per diluted share (1) $        (0.47) $        (0.35) $     (0.12) NM $      (1.99) $     (1.13) $     (0.86) NM Catastrophe losses net of reinsurance (4) $      92,000 $      21,000 $   71,000 338.1 $   190,000 $   43,000 $ 147,000 341.9 Combined ratio (5) 110.1 % 106.6 % —      3.5      pts 112.9 % 108.1 % —      4.8      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 $(20) million and $(242) million for the three months ended June 30, 2023 and 2022, respectively, and $29 million and $(437) million for the six months ended June 30, 2023 and 2022, respectively.

Mercury General Corporation Announces Second Quarter Results and Declares Quarterly Dividend

Kia Soul EV  tops the list for the second consecutive year LOS ANGELES , July 31, 2023 /PRNewswire/ -- The number of electric vehicles (EVs) available on the marketplace continues to grow and the cost of insuring an EV is a burgeoning factor for consumers. According to industry reports, the number of currently available and soon-to-launch EV models is increasing from 27 as of January '21 to 53 early this year.

Mercury Names the Most Affordable 2023 Electric Vehicles to Insure

Chevrolet takes top two truck spots with Ford taking five spots in the top ten; Fiat is the most budget-friendly SUV to insure with Honda having three in the top ten LOS ANGELES , July 28, 2023 /PRNewswire/ -- Consumers continue to gravitate towards larger vehicles as truck and SUV segments dominate sales in the U.S., a trend that shows no signs of slowing down. Mercury Insurance (NYSE: MCY), a leading personal and commercial auto insurer in California, the car capital of the U.S., and provider of auto insurance in 10 other states, has generated a list of the most affordable new SUVs and trucks to help car-buyers find a vehicle that will save them money on insurance.

Mercury Insurance Names the Most Affordable New-Trucks and -SUVs to Insure

Mazda 2 tops this year's list LOS ANGELES , July 27, 2023 /PRNewswire/ -- Select sedan models are once again some of the most affordable vehicles to purchase and own, including insurance, according to Mercury Insurance (NYSE: MCY), a leading auto insurer in California. Announced today, Mercury Insurance has gathered a list of the most affordable new sedans to insure.

Mercury Insurance Names the Most Affordable New Sedans to Insure

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.

Analysts Estimate Mercury General (MCY) to Report a Decline in Earnings: What to Look Out for

Mercury's new video series empowers Californians to prepare and protect LOS ANGELES , July 14, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) today announced the debut of a new video series designed to raise awareness about the importance of wildfire preparation. The series, titled " Wildfire Preparedness with Mercury's Kelly Butler ," will provide homeowners with advice on how to protect their properties against wildfires, with a specific focus on actions to take around the home throughout the year to reduce the risk of fire.

Mercury Insurance Launches Video Series to Promote Wildfire Preparedness in California

LOS ANGELES , July 11, 2023 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, August 1, 2023, the Company will issue an earnings press release reporting its results for the second quarter of 2023, and will also file its quarterly report on Form 10-Q with the Securities and Exchange Commission. The earnings press release should be read in conjunction with the Company's quarterly report on Form 10-Q.

MERCURY GENERAL CORPORATION TO REPORT SECOND QUARTER RESULTS ON AUGUST 1, 2023

Mercury's new added protection comes with environmentally-friendly perks, while discounts put hard-earned money back in the pockets of policyholders  LOS ANGELES , June 30, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) today announces five new coverages and five new discounts available for homeowners and renters in Nevada. Mercury's new coverages provide additional insurance protections with an option for environmentally-friendly replacement products.

Mercury Insurance Offers New Coverages and Discounts in Nevada

Not all EVs are created equal in the eyes of insurance and buyers should consider upfront costs as well as repair costs when buying a new vehicle  LOS ANGELES , June 29, 2023 /PRNewswire/ -- Battery electric vehicles (EVs) have gained popularity in recent years with market share rising from a low single digit to 8% of new vehicle sales in the first quarter of 2023. Propelling this growth are more available EV products being chased by more buyers looking to enjoy the cost efficiencies EVs promise.

As the Electric Vehicle Market Matures, Mercury Underscores the Importance of Insurance

Three helpful tips to mitigate problems  LOS ANGELES , June 28, 2023 /PRNewswire/ -- The value of homeowners insurance is often thrust into the national spotlight when natural disasters happen. The devastation and financial loss they can cause reinforces the importance of making sure you have adequate insurance coverage to rebuild if disaster strikes your home.

Mercury Insurance Details the Most Common Causes of Homeowners Claims

Mercury has developed an online quiz to help drivers determine if they are ready for the summer travel season LOS ANGELES , June 27, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) announces the release of its new interactive online quiz that helps drivers prepare their vehicles for a safe summer road trip season. This quiz is designed to test drivers' knowledge of vehicle safety and maintenance, along with tips that will help them ensure their vehicle is in good working condition before heading out on the open road.

Mercury Insurance Helps Drivers Prepare Their Vehicles for Road Trip Season

Pilot test shows more than 60 percent time savings for quote to bound policies  for Mercury's independent agents LOS ANGELES , June 26, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) recently launched "AgentCenter," a new point of sale software for its agents in California. AgentCenter is designed to accelerate their time from quote to bound policies.

Mercury Insurance Introduces New 'AgentCenter' Point of Sale Software for Agents in California

As the new mode of transportation takes hold with more drivers, taking a road trip in an EV takes smart planning LOS ANGELES , June 23, 2023 /PRNewswire/ -- Nearly 35 million American drivers will be on the road this summer and while EV infrastructure is still growing, the burgeoning part of the population of first-time EV owners may have to take additional steps to ensure a successful road trip. "It cannot be understated that to successfully travel in an EV, you must plan out your trip," said Kevin Quinn, vice president of auto claims at Mercury Insurance.

Planning for a Road Trip in an Electric Car, Mercury Insurance Advises

Consumers from around the world have spoken, and they have chosen Mercury Insurance as one of the world's best auto insurance companies. LOS ANGELES , June 22, 2023 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) has been recognized as one of the World's Best Insurance Companies for 2023 by Forbes in the auto category, the first-time this award has been given to carriers.

Forbes Recognizes Mercury Insurance as One of the World's Best Insurance Companies for 2023

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Mercury General lost its dividend aristocrat status in 2022 when the company cut its dividend by half. Since then, the insurer has struggled with deteriorated underwriting margins, stubbornly paying a quarterly dividend.

Mercury General: The Disgraced King

Mercury General (MCY) came out with a quarterly loss of $1.52 per share versus the Zacks Consensus Estimate of a loss of $1.15. This compares to loss of $0.77 per share a year ago.

News for Mercury General Stock (MCY)