Mercury general corporation announces first quarter results and declares quarterly dividend

Los angeles , may 6, 2025 /prnewswire/ -- mercury general corporation (nyse: mcy) reported today for the first quarter of 2025: consolidated highlights three months ended march 31, change 2025 2024 $ % (000's except per-share amounts and ratios) net premiums earned (2) $     1,283,069 $     1,166,679 $     116,390 10.0 net premiums written (1) (2)  $     1,314,380 $     1,284,984 $       29,396 2.3 net realized investment gains, net of tax (3) $         18,424 $          30,172 $     (11,748) (38.9) net (loss) income $      (108,327) $          73,462 $   (181,789) (247.5) net (loss) income per diluted share $            (1.96) $              1.33 $         (3.29) (247.4) operating (loss) income (1) $      (126,751) $          43,290 $   (170,041) (392.8) operating (loss) income per diluted share (1) $            (2.29) $              0.78 $         (3.07) (393.6) catastrophe losses net of reinsurance (4) $       447,000 $          72,000 $     375,000 520.8 combined ratio (5) 119.2 % 100.9 % —         18.3 pts (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 premiums earned and net premiums written for the three months ended march 31, 2025 include $76 million and $127 million, respectively, of increased ceded reinsurance premiums due to the company's reinsurance treaty being fully used up and from the reinstatement of the company's catastrophe reinsurance benefits following the southern california wildfires in january 2025.
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