Mercury General Q1 2024 net income $73.5 million vs. $45.3 million loss a year earlier
Mercury General reported first-quarter 2024 net income of $73.5 million, or $1.33 per diluted share, compared with a net loss of $45.3 million, or $0.82 per share, in the first quarter of 2023. Net premiums earned rose 16.1% to $1.17 billion, and the combined ratio improved to 100.9% from 115.8%, which gives shareholders a clear view of a much stronger underwriting quarter. The company also declared a quarterly dividend of $0.3175 per share.
Key points
- Net income of $73.5 million ($1.33 per diluted share) vs. a net loss of $45.3 million ($0.82 per share) in Q1 2023
- Operating income of $43.3 million ($0.78 per diluted share) vs. an operating loss of $84.0 million a year earlier
- Combined ratio of 100.9% vs. 115.8%; catastrophe losses net of reinsurance were $72 million vs. $98 million
- Quarterly dividend of $0.3175 per share, payable June 27, 2024, to shareholders of record on June 13, 2024
The filing
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 April 30, 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.