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.

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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 automobiles 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.

Vigilance and Detailed Documentation are Key Prevention Measures LOS ANGELES , June 6, 2024 /PRNewswire/ -- While inflation continues to drive up home and auto insurance costs, fraud is a hidden culprit contributing to the hikes. Whether you're an actual victim of insurance fraud or simply an active policyholder, the reality is that insurance fraud impacts everyone.

Mercury Insurance Expert Offers Tips to Avoid Becoming a Victim of Insurance Fraud

Mercury policyholders can report claims anytime at (800) 503-3724 LOS ANGELES , May 29, 2024 /PRNewswire/ -- Mercury Insurance policyholders who have been impacted by recent heavy storms in Texas and Oklahoma can report damages and losses through Mercury's claims hotline at (800) 503-3724 or digitally by visiting https://www.mercuryinsurance.com/claims/residence-claim.html "We recognize that the recovery process after a storm can be a difficult and emotional time. However, the Mercury claims team is here for our Texas and Oklahoma customers impacted by the severe weather," says Bonnie Lee, Vice President, Property Claims at Mercury Insurance.

Mercury Insurance is Ready to Assist Texas/Oklahoma Policyholders Impacted by Heavy Storms

Mercury's new umbrella insurance better protects Oklahomans' personal wealth against bodily injury claims LOS ANGELES , May 28, 2024 /PRNewswire/ -- Multi-vehicle crashes, dog bites or a delivery person being injured on your property are some of the unexpected events that are putting Oklahomans' personal financial health at risk. In fact, bodily injury payouts continue to climb year over year since the pandemic started, with the average amount for a liability claim increasing by 35%, according to Mercury Insurance  (NYSE: MCY).

Bodily Injury Costs Increase in Oklahoma, According to Mercury Insurance

Mercury to Support Agents and Customers as Tokio Marine America Transitions Out of the California Personal Lines Market LOS ANGELES , May 9, 2024 /PRNewswire/ -- Mercury Insurance  (NYSE: MCY) is spearheading a plan to maintain insurance availability and provide coverage for thousands of California consumers. Tokio Marine America (TMA) and Mercury have closely cooperated to develop a plan to transition customers of TMA and its subsidiary, Trans Pacific Insurance Company (TPIC), to Mercury with assistance from a group of California independent insurance agents, and leadership from the California Department of Insurance.

Mercury Insurance and Tokio Marine America Partner to Help Thousands of Californians Facing Non-renewals

Allstate

Progressive

As every American who owns a car and/or a house knows, insurance premiums have been going through the roof this year. Although it's true the costs of repairing these assets have surged, it appears that insurers' recent rate hikes are meaningfully increasing their profits.

Soaring Premiums, Soaring Profits: 3 Top Insurance Stocks to Own Now

LOS ANGELES, April 30, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today for the first quarter of 2024: Consolidated Highlights Three Months Ended March 31, Change 2024 2023 $ % (000's except per-share amounts and ratios) Net premiums earned  $     1,166,679 $     1,004,704 $     161,975 16.1 Net premiums written (1)  $     1,284,984 $     1,010,202 $     274,782 27.2 Net realized investment gains, net of tax (2) $          30,172 $          38,716 $        (8,544) (22.1) Net income (loss) $          73,462 $         (45,288) $     118,750 NM Net income (loss) per diluted share $              1.33 $             (0.82) $           2.15 NM Operating income (loss) (1) $          43,290 $         (84,004) $     127,294 NM Operating income (loss) per diluted share (1) $              0.78 $             (1.52) $             2.3 NM Catastrophe losses net of reinsurance (3) $          72,000 $          98,000 $      (26,000) (26.5) Combined ratio (4) 100.9 % 115.8 % — (14.9) 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 gains before tax were $38 million and $49 million for the three months ended March 31, 2024 and 2023, respectively.

Mercury General Corporation Announces First Quarter Results and Declares Quarterly Dividend

Mercury General (MCY) closed the most recent trading day at $54.30, moving -1.67% from the previous trading session.

Mercury General (MCY) Falls More Steeply Than Broader Market: What Investors Need to Know

Mercury General (MCY) closed at $52.67 in the latest trading session, marking a +1.23% move from the prior day.

Mercury General (MCY) Advances While Market Declines: Some Information for Investors

LOS ANGELES , April 9, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, April 30, 2024, the Company will issue an earnings press release reporting its results for the first quarter of 2024, 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 FIRST QUARTER RESULTS ON APRIL 30, 2024

Mercury's new umbrella insurance better protects Texans' personal wealth against bodily injury claims LOS ANGELES , April 3, 2024 /PRNewswire/ -- Multi-vehicle crashes, dog bites or a delivery person being injured on your property are some of the unexpected events that are putting Texans' personal financial health at risk. In fact, bodily injury payouts continue to climb year over year since the pandemic started, with the average amount for a liability claim increasing by 35%, according to Mercury Insurance  (NYSE: MCY).

Bodily Injury Costs Increase in Texas, According to Mercury Insurance

Does Mercury General (MCY) have what it takes to be a top stock pick for momentum investors? Let's find out.

Mercury General (MCY) is a Great Momentum Stock: Should You Buy?

Mercury's new added protection comes with environmentally friendly perks, while discounts put hard-earned money back in the pockets of policyholders  LOS ANGELES , April 2, 2024 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) today announces three new coverages and four new discounts that are available for homeowners or renters in New Jersey. Mercury's new coverages provide additional insurance protections with an option for environmentally friendly replacement products.

Mercury Insurance Offers New Coverages and Discounts in New Jersey

Reevaluating Monthly Expenses like Insurance is Crucial to Savings LOS ANGELES , March 29, 2024 /PRNewswire/ -- Finances are consistently a top concern for many Americans, with "saving money" among the top 10 most common New Year's resolutions. This year, Americans are more concerned than ever due to the uncertainty created by high inflation, rising interest rates, lack of income growth and dwindling savings.

Mercury Insurance Shares 4 Ways to Achieve Financial Empowerment in 2024

Next Week's Fix a Leak Week Highlights Need for Vigilance LOS ANGELES , March 14, 2024 /PRNewswire/ -- Mercury Insurance has announced the company's ongoing partnership with Flume — a leading provider of smart water loss prevention technology — will provide additional savings for Fix a Leak Week (March 18-24). Mercury policyholders can save 25% on the retail price of Flume.

Mercury Insurance Continues Partnership with Flume Water Monitor to Help Policyholders Reduce Water Leaks

Mercury Recognized by Publication for Its Workplace Culture for the Fifth Time LOS ANGELES , March 12, 2024 /PRNewswire/ -- Forbes Magazine has named Mercury Insurance as one of America's best mid-sized employers for 2024, the fifth time the company has been recognized since 2017. The annual ranking — conducted in partnership with data analytics firm Statista — is based on a survey of more than 170,000 U.S.-based workers at American companies.

Forbes Names Mercury Insurance One of America's Best Mid-Sized Employers for 2024

Axis Capital

Palomar

W. R. Berkley

We have narrowed our search to five P&C insurers with strong potential for 2024. These are: These are: PGR, AXS, MCY, WRB, PLMR.

Top 5 Property & Casualty Insurers to Bolster Your Portfolio

Award Recognizes Mercury's Foundational Embrace of Diversity, Equity and Inclusion LOS ANGELES , Feb. 27, 2024 /PRNewswire/ -- Mercury Insurance  has been named by Newsweek, in conjunction with market data research firm Plant-A Insights, as one of America's Greatest Workplaces for Diversity for 2024. Companies were judged on criteria including competitive salaries, growth opportunities compared with other employers, work-life balance and non-discriminatory hiring practices.

Newsweek Names Mercury Insurance one of its 2024 America's Greatest Workplaces for Diversity

What Makes Mercury General (MCY) a Strong Momentum Stock: Buy Now?

Mercury General (MCY) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Earnings Estimates Rising for Mercury General (MCY): Will It Gain?

Mercury General (MCY) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to loss of $1.45 per share a year ago.

Mercury General (MCY) Surpasses Q4 Earnings and Revenue Estimates

LOS ANGELES , Feb. 13, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today the fourth quarter and fiscal 2023 results: Consolidated Highlights Three Months EndedDecember 31, Change Twelve Months EndedDecember 31, Change 2023 2022 $ % 2023 2022 $ % (000's except per-share amounts and ratios) Net premiums earned $  1,144,895 $  1,005,482 $  139,413 13.9 % $  4,274,378 $  3,952,482 $   321,896 8.1 % Net premiums written (1) $  1,132,150 $               915,750 $  216,400 23.6 % $  4,464,199 $  3,978,017 $   486,182 12.2 % Net realized investment gains (losses), net of tax (2) $               127,810 $ 73,595 $    54,215 73.7 % $ 79,801 $(385,583) $   465,384 NM Net income (loss) $               191,394 $ (6,770) $  198,164 NM $ 96,336 $(512,672) $   609,008 NM Net income (loss) per diluted share (3) $     3.46 $   (0.12) $        3.58 NM $     1.74 $    (9.26) $       11.00 NM Operating income (loss) (1) $ 63,584 $(80,365) $  143,949 NM $ 16,535 $(127,089) $   143,624 NM Operating income (loss) per diluted share (1) $     1.15 $   (1.45) $        2.60 NM $     0.30 $    (2.30) $         2.60 NM Catastrophe losses net of reinsurance (4) $ 16,000 $ 40,000 $ (24,000) (60.0) % $               239,000 $               102,000 $   137,000 134.3 % Combined ratio (5) 98.6 % 115.8 % —          (17.2) pts 105.4 % 108.7 % —        (3.3) 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 gains (losses) before tax were $162 million and $93 million for the three months ended December 31, 2023 and 2022, respectively, and $101 million and $(488) million for the twelve months ended December 31, 2023 and 2022, respectively.

Mercury General Corporation Announces Fourth Quarter and Fiscal 2023 Results and Declares Quarterly Dividend

Simon Zhang will spearhead effort to unlock Mercury's deep data and analytics resources to fuel the company's innovation efforts and improve customer experiences LOS ANGELES , Feb. 8, 2024 /PRNewswire/ -- Mercury Insurance (NYSE: MCY), a leading provider of property and casualty insurance, has appointed Simon Zhang to the newly-created position of Chief Data and Analytics Officer. The hire continues Mercury's ongoing effort to utilize advanced data analytics to drive business growth, elevate the carrier's product offerings, and better meet the needs of its policyholders.

Mercury Insurance Invests in a New Vision of Data Science with the Appointment of Chief Data Analytics Officer

LOS ANGELES , Jan. 16, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, February 13, 2024, the Company will issue an earnings press release reporting its results for the fourth quarter of 2023, 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 13, 2024

"Where's Bailey?" Augmented Reality Experience Features LA-centric Art from World Renowned Muralist Nigel Sussman LOS ANGELES , Dec. 20, 2023 /PRNewswire/ -- Mercury Insurance and the Los Angeles Kings announced today that the two longtime partners have teamed up to create a first-of-its-kind augmented reality (AR) experience that will send fans on a fanciful adventure through some of LA's most recognized landmarks in search of Kings' mascot and hockey's most lovable lion, Bailey.

Mercury Insurance Partners with LA Kings to Bring First-of-Their-Kind Experiences to Fans

Mercury's Experts Provide Handy Tips for Winter Driving Challenges LOS ANGELES , Dec. 19, 2023 /PRNewswire/ -- Winter road trips can be an exciting adventure, yet they are not without risks. Drivers must remain vigilant and prepared for any potential hazards such as rain, snow, ice, wind, or the combination of all four.

News for Mercury General Stock (MCY)