PR Newswire
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
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