Mercury General Stock Price, News & Analysis

Mercury General Corporation (NYSE: MCY) announced it will release its fourth quarter 2021 earnings report on February 15, 2022, after market closure. The release will be accompanied by the annual report on Form 10-K submitted to the SEC. Mercury offers personal automobile and homeowners insurance through independent producers across several states. Stakeholders are advised to review the earnings report in conjunction with the 10-K for comprehensive insights.

Mercury Insurance has partnered with One Inc to launch the ClaimsPay platform, enhancing its claims disbursement process. This integration with Guidewire's ClaimCenter aims to improve efficiency and customer experience by expediting claims payments through various digital options. Recognized as one of America's Best Insurance Companies for 2022 by Forbes, Mercury operates in 11 states, providing comprehensive insurance coverage. This partnership positions Mercury among top-tier carriers leveraging digital solutions for competitive differentiation in the insurance industry.

Mercury Insurance (NYSE: MCY) has launched a new Small Business Insurance program tailored for California business owners, including retail and professional services. This offering aims to provide customizable coverage with a user-friendly quoting process. The program is designed to protect small to mid-size businesses with fewer than 50 employees and less than $30 million in annual sales. Key features include bundled coverages for diverse operations and extensive discounts. Mercury aims to leverage technology for faster service, enhancing customer satisfaction.

Mercury Insurance (NYSE: MCY) has launched five new coverages and three discounts for homeowners in Arizona. The new coverages include options like Green Home that offers up to 10% additional funds for eco-friendly replacements, matching of undamaged siding and roofing, protection against hidden water damages, and coverage for up to $1,000 in spoiled food due to refrigerator issues. Discounts are available for homes with Green certifications, updated homes, and good payment history.

Mercury General Corporation (NYSE: MCY) reported a net income of $1,288 for Q3 2021, down 98.9% from $118,857 in Q3 2020. Net premiums earned rose by 4.6% to $940,941, while net premiums written increased by 7.6% to $1,014,967. However, net realized investment losses were $34,399, a drop from gains of $50,904 the previous year. Catastrophe losses were significantly higher year-to-date, totaling $91 million. The Board declared a quarterly dividend of $0.6350 per share, payable on December 30, 2021.

Mercury Insurance (NYSE: MCY) launches a promotional campaign for Anaheim Ducks fans, offering two free tickets for a home game when they complete an online auto or homeowners insurance quote. This promotion runs from October 18 to December 3, 2021. Mercury aims to attract new customers by showcasing potential savings in auto and home insurance. Additionally, the company will feature the 'My First Car' video series, engaging fans with players' personal stories. Mercury has been providing competitive insurance solutions in multiple states since 1962.

Mercury Insurance (NYSE: MCY) announces a promotional campaign called 'Get a Quote, Get Two Tickets' for LA Kings fans, running from October 18 to December 3. Fans completing an online auto or homeowners insurance quote will receive two free tickets to a Kings home game at STAPLES Center. Mercury aims to attract customers by highlighting their competitive insurance rates and providing incentives for quotes. Current policyholders are also eligible. The company emphasizes its history of saving Californians money on insurance since 1962.

Mercury Insurance has reported a 40% increase in comprehensive auto insurance claims due to rising vehicle vandalism and theft in California. The increase stems from the pandemic, with claims particularly rising for parts like catalytic converters. Northern California shows nearly double the claim frequency compared to the south. The top vehicles for claims include the Toyota Prius and Chevy Silverado. The National Insurance Crime Bureau indicates a 24% rise in auto theft since 2019, with almost 22% of claims occurring at night.