Mercury General Q1 2022 Earnings Report
Key Takeaways
Mercury General Corporation reported a net loss of $196.9 million for the first quarter of 2022, a significant decrease compared to the net income of $107.0 million in the same period last year. The results were impacted by net realized investment losses and increased losses and loss adjustment expenses, which were influenced by inflationary trends and prior accident years' loss development.
Mercury General reported a net loss of $196.9 million, or $(3.56) per diluted share, compared to net income of $107.0 million, or $1.93 per diluted share, for the same period in 2021.
Operating loss was $42.8 million, or $(0.77) per diluted share, compared to operating income of $74.1 million, or $1.34 per diluted share, for the same period in 2021.
The combined ratio increased to 109.5% from 93.5% in the first quarter of 2021, reflecting higher losses and loss adjustment expenses.
Catastrophe losses net of reinsurance were $22.0 million, compared to $35.0 million for the same period in 2021.
Mercury General
Mercury General
Mercury General Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income