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Mercury General Corporation reported significantly stronger results for the quarter and six months ended June 30, 2026. Total revenues for the first half were 3,221,575 (thousands), up from 2,871,763 (thousands) a year earlier. Net income rose to 263,502 (thousands) for Q2 2026 and 453,922 (thousands) for the first six months, compared with 166,472 and 58,145 (thousands) in 2025. Basic and diluted earnings per share were $4.76 for Q2 and $8.20 for the first half.
Net premiums earned increased to 2,950,180 (thousands) for the first half of 2026, and underwriting swung to a gain of 306.3 (millions) from a loss of 143.2 (millions) a year earlier. Catastrophe losses net of reinsurance were approximately $168 million for the six months, mainly from adverse development on the Palisades and Eaton wildfires and storms in Texas and Oklahoma, and cumulative net losses and loss adjustment expenses from the Palisades and Eaton fires reached 460,229 (thousands).
Total assets grew to 10,542,365 (thousands) with investments at fair value of 7,131,113 (thousands). Operating cash flow was 543,303 (thousands). The company enhanced its capital structure by issuing 525,000 (thousands) of 6.25% senior unsecured notes maturing in 2036, entering a new 250,000 (thousands) unsecured revolving credit facility (50,000 (thousands) drawn), and maintaining a catastrophe reinsurance treaty providing 2,790 million of per-occurrence coverage above a 200 million retention through June 30, 2027.
Mercury General Corporation reported second‑quarter 2026 results with higher premiums and earnings compared with 2025. Net premiums earned were $1,497,767 (000’s), up 9.6%, and net premiums written rose 5.3% to $1,559,045 (000’s). Net income for the quarter was $263,502 (000’s), up 58.3%, with diluted net income per share of $4.76. Operating income increased to $195,158 (000’s), or $3.52 per diluted share, and net realized investment gains, net of tax, were $68,344 (000’s).
For the first six months of 2026, net income was $453,922 (000’s) versus $58,145 (000’s) a year earlier, and operating income rose to $389,166 (000’s). The combined ratio improved to 89.9% for the quarter and 89.6% year‑to‑date, compared with 92.5% and 105.4% in the prior‑year periods. Catastrophe losses net of reinsurance were $75,000 (000’s) in the quarter and $168,000 (000’s) for the first six months. Book value per share increased to $51.20 at June 30, 2026, and statutory surplus was $2.77 billion.
The Board of Directors declared a quarterly dividend of $0.3175 per share, payable on September 24, 2026 to shareholders of record on September 10, 2026. At June 30, 2026, common stock shares outstanding were 55,389 and the debt to total capital ratio was 25.1%.
Mercury General Corporation entered into a Second Amended and Restated Credit Agreement that provides a five-year, $250.0 million unsecured revolving credit facility. This new facility replaces the company’s prior credit agreement and can be used for general corporate purposes.
The revolving facility matures on June 24, 2031. Borrowings will bear interest at either Base Rate or Term SOFR plus a margin tied to the company’s Debt to Capital Ratio, and are subject to quarterly-tested financial covenants on minimum shareholders’ equity, maximum leverage, and minimum risk-based capital levels at key insurance subsidiaries.
Mercury General Corporation completed a public debt offering of $525.0 million aggregate principal amount of 6.250% Senior Notes due 2036. These unsecured senior obligations rank equally with the company’s existing and future unsecured senior debt.
The Notes were issued at a public offering price of 99.764% of principal, pay interest at 6.250% per year, and mature on June 15, 2036. Interest is payable semi-annually on June 15 and December 15, starting December 15, 2026. Mercury also entered into a Fourth Amendment to its Amended and Restated Credit Agreement, allowing this new Notes issuance to be treated as permitted indebtedness.
Mercury General Corporation is offering $525,000,000 aggregate principal amount of 6.250% Senior Notes due 2036. Interest is payable semi-annually on June 15 and December 15 beginning December 15, 2026. The notes are senior unsecured obligations, issued in book-entry form, and may be redeemed prior to maturity under a make-whole formula or at par on or after March 15, 2036.
The prospectus supplement states estimated net proceeds of approximately $519.0 million, to be used to redeem or repay outstanding 2027 notes (approximately $375 million outstanding) and to repay amounts under the unsecured credit facility (approximately $200 million drawn as of the date shown). The offering is subject to customary risks described under "Risk Factors."
Mercury General Corporation is offering a series of unsecured senior notes under a preliminary prospectus supplement dated June 9, 2026. The notes are senior, unsecured obligations that will be issued in registered, book-entry form through DTC and will bear interest payable semi‑annually.
The company intends to apply net proceeds to redeem or repay its $375 million 2027 notes, repay amounts outstanding under its unsecured credit facility (currently $200 million drawn) and for general corporate purposes; the offering will be subject to an amendment to the credit agreement permitting the issuance of the notes.
Mercury General Corporation reported stronger insurance results for the three months ended March 31, 2026. Net premiums earned were $1,452 million compared with $1,283 million a year earlier, reflecting higher business volume. Net income improved to $190 million from a net loss of $108 million.
Operating income, which excludes realized investment gains and losses, rose to $194 million from an operating loss of $127 million. For the year ended December 31, 2025, net income was $541 million and operating income was $437 million.
As of March 31, 2026, Mercury General had approximately 2.31 million policies in force across personal auto, homeowners and commercial auto. The company also highlighted strong customer experience, with an overall claims satisfaction score of about 89.4% for the fourth quarter of 2025.
Mercury General Corporation reported the results of its 2026 Annual Meeting of Shareholders. Investors elected all nine director nominees, with votes for each ranging around 39–41 million shares and broker non-votes of 2,584,625 on each director proposal.
Shareholders approved, on an advisory and non-binding basis, the compensation of named executive officers, with 40,328,913 shares voting for, 568,701 against and 28,086 abstaining, plus 2,584,625 broker non-votes. They also ratified KPMG LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 42,985,321 shares for, 511,025 against and 13,979 abstaining.
Mercury General Corporation registered a shelf offering on Form S-3 to permit the issuance and sale of debt securities from time to time after the registration statement’s effective date under its status as a “well-known seasoned issuer.” The prospectus describes that each offering will be accompanied by a prospectus supplement specifying the amounts, prices and terms of the securities. The prospectus also discloses that the company’s common stock last traded at $99.05 per share on May 11, 2026.
The shelf prospectus summarizes general terms for debt securities (including issuance under an existing indenture dated March 8, 2017), global book-entry mechanics, transfer and exchange procedures, events of default and modification provisions. Specific offering mechanics, aggregate principal amounts and use of proceeds will be stated in future prospectus supplements.
Mercury General Corporation reported sharply improved results for the three months ended March 31, 2026. Net income was $190.4 million, compared with a net loss of $108.3 million a year earlier, as underwriting and catastrophe experience improved. Total revenues rose to $1.54 billion, driven by higher net premiums earned of $1.45 billion, up from $1.28 billion.
Underwriting performance swung to a gain of $155.1 million from a loss of $245.9 million, helped by lower losses and loss adjustment expenses of $932.9 million versus $1.22 billion, despite continued catastrophe activity. The company still recognized about $93 million of catastrophe losses net of reinsurance, mainly tied to development on prior Palisades and Eaton wildfire claims and storms in California, Texas and Oklahoma.
Operating cash flow strengthened to $325.6 million from a use of cash of $68.7 million. Total assets reached $9.87 billion and shareholders’ equity increased to $2.59 billion. The company maintained its quarterly dividend of $0.3175 per share and continued to manage significant wildfire-related subrogation and FAIR Plan exposures within its catastrophe and reinsurance programs.