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Sep 30, 2021
Mercury General Q3 2021 Earnings Report
Mercury General's Q3 2021 performance was marked by a significant decrease in net income, primarily due to net realized investment losses and a higher combined ratio, while the company increased its quarterly dividend.
Key Takeaways
Mercury General Corporation reported a sharp decline in net income for the third quarter of 2021, falling to $1.288 million from $118.857 million in the same period last year. This decrease was largely attributed to net realized investment losses and an increase in the combined ratio. Despite the drop in net income, the company increased its quarterly dividend.
Net income decreased significantly to $1.288 million, compared to $118.857 million in Q3 2020.
Operating income decreased to $35.687 million from $67.953 million in the same quarter of the previous year.
Catastrophe losses net of reinsurance were $25 million, a decrease from $29 million in Q3 2020.
The combined ratio increased to 99.0% from 94.3% in the prior-year quarter.
Mercury General
Mercury General
Mercury General Revenue by Segment
Revenue by Segment
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CapyFin.com Forward Guidance
The company provided forward-looking statements that are subject to significant risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income