MERCURY GENERAL CORP (MCY) Form 10-Q — Nov 3, 2026
Mercury General reported a Q3 2026 net loss of $13.7 million ($0.25 per share) versus net income of $280.4 million a year ago, driven by $261.9 million of net realized investment losses from rising interest rates and weaker equity markets rather than underwriting weakness. The P&C combined ratio was 90.2%, up from 87.0%, with the underlying loss ratio pressured by higher auto loss severity. For the nine months, net income rose 30% to $440.2 million ($7.95 per share) on 10.7% growth in net premiums earned, with the combined ratio improving to 89.8% from 99.0% (which included Palisades and Eaton wildfire losses).
Key figures
- Eps
- 7.95
- Revenue
- 4602926000
- Net Income
- 440237000
- Total Debt
- 575000000
- Revenue Yoy
- 3.3% (nine months: $4,602.9M vs $4,456.7M)
- Total Assets
- 10349051000
- Cash Position
- 1305215000
- Shares Outstanding
- 55388627
- Senior notes
- $525 million maturing June 15, 2036
- Q3 combined ratio
- 90.2%
- Shareholders equity
- 2804754000
- Dividends per share 9m
- 0.9525
- Net premiums earned q3
- 1545368000
- Operating cash flow 9m
- 930685000
- Net premiums written 9m
- 4745297000
- Nine month combined ratio
- 89.8%
- Nine month eps prior year
- 6.11
- Q3 combined ratio prior year
- 87.0%
- Net premiums earned growth q3
- 9.6%
- Catastrophe reinsurance coverage
- $2,790 million above $200 million retention (Treaty through June 30, 2027)
- Nine month combined ratio prior year
- 99.0%
AI analysis
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