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.

New Initiative Celebrates Everyday Champions Making a Positive Impact in Los Angeles LOS ANGELES , Nov. 19, 2024 /PRNewswire/ -- Mercury Insurance, in partnership with the Los Angeles Kings, has launched the Hockeywood Wall of Fame – a dynamic initiative dedicated to honoring the unsung heroes of our vibrant Los Angeles community. Housed at the Toyota Sports Performance Center, the wall was officially unveiled at a launch event on Sunday, Nov. 17,* which featured LA Kings stars Anze Kopitar, Trevor Lewis and Kevin Fiala, as well as executives from Mercury Insurance and the LA Kings, who inducted the inaugural members, including Kendal Troutman, founder of Thru Guidance Ministries and 24 Degrees of Color.

Mercury Insurance and Los Angeles Kings Unveil Hockeywood Wall of Fame to Honor Community Heroes

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

Are You Looking for a Top Momentum Pick? Why Mercury General (MCY) is a Great Choice

As cooler weather approaches, homeowners are encouraged to take steps to ensure their homes are ready for the changing season LOS ANGELES , Nov. 13, 2024 /PRNewswire/ -- With fall upon us, homeowners may find themselves busy with seasonal chores such as raking leaves and putting away summer furniture. However, it's also a crucial time to prepare your home for the cooler months ahead and reduce potential risks associated with the season.

Mercury Insurance Shares Essential Tips for Preparing Your Home for Fall

Mercury General (MCY) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.

Mercury General Corporation (MCY) Hits Fresh High: Is There Still Room to Run?

Company prepared to assist policyholders who have suffered home or auto loss, need living expenses reimbursement or to file a claim for covered losses LOS ANGELES , Nov. 8, 2024 /PRNewswire/ -- The recent Santa Ana wind conditions have sparked a wildfire across Camarillo, forcing local authorities to issue mandatory evacuation orders for more than 10,000 residents in that Southern California community. Mercury Insurance is prepared to assist homeowner, renter and auto policyholders who have had to evacuate in response to those orders or whose property has suffered fire damage.

Mercury Insurance is Ready to Help Victims of the Mountain Fire in California

New Activations Bring the Game Alive for Fans at the Game and at Home LOS ANGELES , Nov. 7, 2024 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) is making sure that no Los Angeles Kings fan is left behind this season, launching a wave of exciting new activations with big fan rewards that include game tickets and even a brand new home jersey. And for the first time, all of this happens for the fans inside Crypto.com Arena AND those watching at home.

Mercury Insurance and Los Angeles Kings Come Together to Spice Up the Season for Fans Inside and Outside Crypto.com Arena

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.

Should Value Investors Buy Mercury General (MCY) Stock?

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

Can Mercury General (MCY) Run Higher on Rising Earnings Estimates?

Mercury General faced operational challenges and high loss ratios in 2022, compounded by a dividend reduction that resulted in the loss of its "dividend aristocrat" status. In response to these challenges, Mercury launched remediation efforts in 2023 focused on improving underwriting margins, especially in California, where adverse conditions significantly impacted profitability. By mid-2024, Mercury's combined ratio improved, achieving positive underwriting income and a combined ratio of 98.9% by Q2, reflecting the success of rate adjustments and underwriting improvements.

Mercury General: Turning Lead Into Gold

Mercury to Launch New Offer to Reward and Include Every Fan LOS ANGELES , Oct. 30, 2024 /PRNewswire/ -- Mercury Insurance (NYSE: MCY) and the Anaheim Ducks are thrilled to announce the revival of their popular Get a Quote/Get 2 Tickets promotion, aimed at giving more fans the chance to see a game at Honda Center this season. Not only could fans save money while enjoying the thrill of live hockey, but the two organizations have also added an exciting new twist to this beloved promotion.

Mercury Insurance and the Anaheim Ducks Make Live Hockey More Inclusive and Accessible for All Fans This Season

Mercury General (MCY) came out with quarterly earnings of $2.54 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.14 per share a year ago.

Mercury General (MCY) Q3 Earnings and Revenues Top Estimates

LOS ANGELES , Oct. 29, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today for the third quarter of 2024: Consolidated Highlights Three Months Ended September 30, Change Nine Months Ended September 30, Change 2024 2023 $ % 2024 2023 $ % (000's except per-share amounts and ratios) Net premiums earned  $  1,320,652 $  1,090,311 $  230,341 21.1 $  3,723,355 $  3,129,483 $  593,872 19.0 Net premiums written (1)  $  1,422,933 $  1,206,503 $  216,430 17.9 $  4,063,377 $  3,332,049 $  731,328 21.9 Net realized investment gains (losses), net of tax (2) $    90,412 $   (71,101) $  161,513 NM $  122,873 $   (48,010) $  170,883 NM Net income (loss) (3) $  230,856 $    (8,227) $  239,083 NM $  366,886 $   (95,058) $  461,944 NM Net income (loss) per diluted share (3) $       4.17 $      (0.15) $       4.32 NM $       6.63 $      (1.72) $       8.35 NM Operating income (loss) (1) (3) $  140,444 $    62,874 $    77,570 123.4 $  244,013 $   (47,048) $  291,061 NM Operating income (loss) per diluted share (1) (3) $       2.54 $       1.14 $       1.40 122.8 $       4.41 $      (0.85) $       5.26 NM Catastrophe losses net of reinsurance (4) $    39,000 $    33,000 $     6,000 18.2 $  236,000 $  223,000 $    13,000 5.8 Combined ratio (5) 93.6 % 98.6 % —       (5.0)   pts 97.6 % 107.9 % —         (10.3)        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 $114 million and $(90) million for the three months ended September 30, 2024 and 2023, respectively, and $156 million and $(61) million for the nine months ended September 30, 2024 and 2023, respectively.

Mercury General Corporation Announces Third Quarter Results and Declares Quarterly Dividend

Top Home and Auto Safety Tips to Keep in Mind Ahead of the Spooky Season LOS ANGELES , Oct. 28, 2024 /PRNewswire/ -- Ghosts, goblins and ghouls will soon be taking to the streets as Halloween festivities commence. Mercury Insurance (NYSE: MCY) wants to help keep you, your loved ones and your property safe to avoid any unnecessary scares that might be lurking.

Mercury Insurance Wants You to Have a Spookily Safe Halloween

LOS ANGELES , Oct. 8, 2024 /PRNewswire/ -- Mercury General Corporation (NYSE: MCY) reported today that after the markets close on Tuesday, October 29, 2024, the Company will issue an earnings press release reporting its results for the third 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 THIRD QUARTER RESULTS ON OCTOBER 29, 2024

Axis Capital Holdings (AXS) and Mercury General (MCY) are two highly-ranked insurance stocks that investors shouldn't overlook.

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Policyholders can report claims anytime at (800) 503-3724 or via Mercury's automated digital experience LOS ANGELES , Sept. 27, 2024 /PRNewswire/ -- Mercury Insurance is ready to assist policyholders who have been impacted by Hurricane Helene in Georgia.

Mercury Insurance is Ready to Assist Georgia Policyholders Impacted by Hurricane Helene

Policyholders can report claims anytime at (800) 503-3724 or via Mercury's automated digital experience LOS ANGELES , Sept. 27, 2024 /PRNewswire/ -- Mercury Insurance is ready to assist policyholders who have been impacted by Hurricane Helene across the Florida Panhandle area.

Mercury Insurance is Ready to Assist Florida Policyholders Impacted by Hurricane Helene

EVs Offer Lower Operating Costs Compared With ICE and Hybrid Vehicles, but Cost More to Insure LOS ANGELES , Sept. 23, 2024 /PRNewswire/ -- With a variety of powertrain options on the market, consumers who are shopping for a new vehicle have a lot to mull over these days.

Are EVs and Hybrids More Expensive to Insure Versus ICE Vehicles? Mercury Insurance Expert Explains

Mercury General Corporation is well-positioned for growth with significant cash reserves, enabling investment in advertising and agent network expansion to boost net sales. Recent rate increases approved by the Department of Insurance and impressive EPS forecasts for 2025 make MCY an attractive buy. The company's strong investment track record, focus on maximizing after-tax yield, and experienced leadership further support its potential for stable returns.

Mercury General: Very Cheap, And Expert Of Maximizing After-Tax Yield

Mercury's New Umbrella Insurance Better Protects Illinoisans' Personal Wealth Against Bodily Injury Claims LOS ANGELES , Sept. 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 Illinoisans' personal financial health at risk.

Bodily Injury Costs Increase in Illinois, According to Mercury Insurance

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Safety Insurance struggled with underwriting losses in the first half of 2024 despite improvements in Q2, highlighting ongoing challenges in its portfolio. Mercury General has shown signs of recovery, achieving a combined ratio below 100% in the first half of 2024, positioning itself more favorably compared to Safety Insurance. Although Safety Insurance's dividend remains covered due to higher investment income, the company's elevated valuation may face pressure if portfolio remediation efforts don't succeed.

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