Free Historical Stock Data on Mercury General Corp
Stock Symbol: MCY
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Mercury General Corporation and its subsidiaries are engaged primarily in writing all risk classifications of automobile insurance. The Company underwrites personal automobile insurance in nine states: California, Florida, Texas, Oklahoma, Georgia, Illinois, New York, Virginia and, beginning in August 2003, New Jersey. During 2003, private passenger automobile insurance and commercial automobile insurance accounted for 87.4% and 4.0%, respectively, of the Company's total gross premiums written. The percentage of gross automobile insurance premiums written during 2003 by state was 84.0% in California, 7.2% in Florida, 4.5% in Texas, 1.2% in Oklahoma, 0.9% in Illinois, 0.8% in Georgia and 1.4% in all other states. Mercury General also writes homeowners insurance, mechanical breakdown insurance, commercial and dwelling fire insurance and commercial property insurance. The non-automobile lines of insurance accounted for 8.6% of gross written premiums in 2003.
For the nine months ended 9/30/04, revenues increased 18% to $1.96 billion. Net income increased 57% to $212.1 million. Results reflect increased policy sales and rate increases in CA, FL and TX automobile and CA homeowner insurance, higher premiums earned, increased net realized investment gains, and improved operating margins.