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Sep 30, 2024
Mercury General Q3 2024 Earnings Report
Mercury General reported strong Q3 2024 results, marked by significant increases in net premiums earned, net income, and operating income compared to the previous year. The combined ratio also improved, reflecting enhanced underwriting profitability.
Key Takeaways
Mercury General Corporation reported a strong third quarter for 2024. Net income increased significantly to $230.9 million, and operating income more than doubled. The combined ratio improved to 93.6%.
Net premiums earned increased by 21.1% to $1.32 billion.
Net income reached $230.9 million, a substantial improvement from a net loss in the same period last year.
Operating income rose by 123.4% to $140.4 million.
The combined ratio improved by 5 percentage points to 93.6%.
Revenue by Segment
Forward Guidance
Mercury General expects total catastrophe losses from Hurricane Milton will be $5 million or less, which will be recorded as losses for the fourth quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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