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AI brief of an SEC Form 8-K · Mercury General (MCY)

Mercury General Q4 net income rises to $191.4 million from a loss a year earlier

Positive Impact 3 of 5 earnings Written later

Mercury General reported fourth-quarter 2023 net income of $191.4 million, or $3.46 per diluted share, compared with a net loss of $6.8 million, or $0.12 per share, a year earlier. For full-year 2023, net income was $96.3 million, or $1.74 per diluted share, versus a net loss of $512.7 million in 2022, and the combined ratio improved to 105.4% from 108.7%. The company also said it cannot yet estimate losses from California atmospheric river storms in early 2024, which it expects to record in the first quarter of 2024.

Key points

  • Q4 2023 net income $191.4 million ($3.46 per diluted share) vs. net loss $6.8 million ($0.12 per share) in Q4 2022
  • Q4 2023 net premiums earned rose 13.9% to $1.14 billion; combined ratio improved to 98.6% from 115.8%
  • Full-year 2023 net income $96.3 million ($1.74 per share) vs. net loss $512.7 million in 2022
  • Board declared a quarterly dividend of $0.3175 per share, payable March 27, 2024 to holders of record March 13, 2024

The filing

CompanyMercury General (MCY)
Form8-K, current report
Filed with the SECFeb 13, 2024, 4:07 PM ET
Accession number0001193125-24-033701

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 13, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.