Mercury General swings to $62.6 million Q2 profit from $41.5 million loss
Mercury General reported second-quarter 2024 net income of $62.6 million, or $1.13 per diluted share, compared with a net loss of $41.5 million, or $0.75 per share, a year earlier. Net premiums earned rose 19.5% to $1.24 billion, and the combined ratio improved to 98.9% from 110.1%, which indicates a much stronger underwriting result for shareholders. The company also declared a quarterly dividend of $0.3175 per share.
Key points
- Q2 2024 net income was $62.6 million ($1.13 per diluted share), versus a net loss of $41.5 million ($0.75 per share) in Q2 2023.
- Net premiums earned rose 19.5% to $1.24 billion; catastrophe losses, net of reinsurance, were $125 million, up from $92 million.
- Combined ratio was 98.9% for the quarter, compared with 110.1% a year earlier.
- Quarterly dividend of $0.3175 per share, payable September 26, 2024, to holders of record on September 12, 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 July 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.