Mercury general corporation announces third quarter results and declares quarterly dividend
Los angeles , oct. 29, 2024 /prnewswire/ -- mercury general corporation (nyse: mcy) reported today for the third quarter of 2024: consolidated highlights three months ended september 30, change nine months ended september 30, change 2024 2023 $ % 2024 2023 $ % (000's except per-share amounts and ratios) net premiums earned $ 1,320,652 $ 1,090,311 $ 230,341 21.1 $ 3,723,355 $ 3,129,483 $ 593,872 19.0 net premiums written (1) $ 1,422,933 $ 1,206,503 $ 216,430 17.9 $ 4,063,377 $ 3,332,049 $ 731,328 21.9 net realized investment gains (losses), net of tax (2) $ 90,412 $ (71,101) $ 161,513 nm $ 122,873 $ (48,010) $ 170,883 nm net income (loss) (3) $ 230,856 $ (8,227) $ 239,083 nm $ 366,886 $ (95,058) $ 461,944 nm net income (loss) per diluted share (3) $ 4.17 $ (0.15) $ 4.32 nm $ 6.63 $ (1.72) $ 8.35 nm operating income (loss) (1) (3) $ 140,444 $ 62,874 $ 77,570 123.4 $ 244,013 $ (47,048) $ 291,061 nm operating income (loss) per diluted share (1) (3) $ 2.54 $ 1.14 $ 1.40 122.8 $ 4.41 $ (0.85) $ 5.26 nm catastrophe losses net of reinsurance (4) $ 39,000 $ 33,000 $ 6,000 18.2 $ 236,000 $ 223,000 $ 13,000 5.8 combined ratio (5) 93.6 % 98.6 % — (5.0) pts 97.6 % 107.9 % — (10.3) pts nm = not meaningful (1) these measures are not based on u.s. generally accepted accounting principles ("gaap"), are defined in "information regarding gaap and non-gaap measures" and are reconciled to the most directly comparable gaap measures in "supplemental schedules." (2) net realized investment gains (losses) before tax were $114 million and $(90) million for the three months ended september 30, 2024 and 2023, respectively, and $156 million and $(61) million for the nine months ended september 30, 2024 and 2023, respectively.
