Mercury General Corporation has posted $191.4 million net income in their results for the fourth quarter of 2023, compared to a -$6.7 million for the prior year period.
Net premiums earned for the quarter sat at $1.14 billion, representing a solid increase from the prior year quarter’s $1.0 billion.
At the same time, net premiums written for Q4 were $1.13 billion, a 23.6% increase from the prior year period’s $915.7 million.
Combined ratio for the quarter was 98.6%, a substantial improvement from Q422’s 115.8%.
The auto insurance company also posted revenue of $1.37 billion in the period. Its adjusted revenue also sat at $1.21 billion.
Meanwhile, for the full-year 2023, Mercury General reported $4.27 billion in net premiums earned.
In addition, net income for the full-year was $96.3 million.
Net premiums written were $4.46 billion for the full-year 2023, representing a $486 million increase from 2022.
Mercury General also posted a combined ratio of 105.4% for 2023, compared to 2022’s 108.7%.
