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Mercury General Corporation

Mercury General falls to $139mn loss in Q1

5th May 2020

Mercury General Corporation, a Los Angeles-based multi-line insurer, has posted a net loss of $139.2 million during the first quarter of 2020, driven by COVID-19 induced volatility in the financial markets. The result compares with a net income of $135.9 million for the same period in the previous year. Performance was weighed ... Read the full article

California fires push Mercury General’s 2019 cat losses to $53mn

17th January 2020

Mercury General Corporation, a Los Angeles-based multi-line insurer, has disclosed that it incurred $53 million ($52 million net of tax) of catastrophe losses in 2019. More than two thirds of these losses were incurred in the fourth quarter of the year alone, and primarily resulted from the wildfires in California and ... Read the full article

Reduced cat losses lift Mercury General results in Q3

28th October 2019

Mercury General has recorded an 18.3% increase in net income during the third quarter of 2019, helped by significantly lower catastrophe losses. The company recorded net income of $69.3 million this quarter, compared with $58.6 million for the same period last year. Catastrophe losses came to just $3.0 million, down from $13.0 ... Read the full article

Reinsurers benefit from Mercury General’s sale of subrogation rights

30th April 2019

Mercury General Corporation, a Los Angeles-based multi-line insurer, has said that its reinsurers are likely to benefit from the sale of certain wildfire subrogation rights, which it completed during the first quarter of 2019. As part of its Q1 results, Mercury General disclosed the sale of its subrogation rights related to ... Read the full article

Mercury General’s reinsurance to shoulder $216m of its wildfire losses

28th November 2018

Mercury General Corporation, a Los Angeles-based multi-line insurer, has announced that $216 million of losses inflicted by the Camp and Woolsey fires are expected to be shouldered by its reinsurance partners. The company states that pre-tax total gross losses, before reinsurance benefits, from the Camp fire in Northern California and the ... Read the full article

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