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Mercury General MCY Property & Casualty — Ceded Premiums Earned

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NOD
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$8.71M-14.9%

Other financials

Income statement

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Revenue$1.5B+10.5%
Net income$190.4M+276%
EPS (diluted)$3.44+276%

Balance sheet

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Cash & equivalents$1.4B+5.1%
Total debt$12.7M-29.2%
Total assets$9.9B+9.4%

Cash flow

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Operating cash flow$325.6M+574%
CapEx$16.8M+27.8%
Free cash flow$308.8M+477%

Valuation

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Market cap$5.95B+50.5%
Enterprise value$4.61B+62.0%
P/E7.1×-3.1×
P/S1×+0.3×

Profitability

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Net margin13.7%+8.6pp
FCF margin23.1%+10.1pp

Where this comes from

Reported directly by Mercury General in its filing.

Tagged under the XBRL concept us-gaap:CededPremiumsEarned.

The source filing: Mercury General’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:12 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000064996-26-000014
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Ceded(62,588)(156,795)
Assumed39,96525,733
Net$1,543,507$1,307,405
Premiums Earned
Direct$1,497,652$1,375,923
Ceded(62,670)(106,694)
Assumed10,1146,529
Net$1,445,096$1,275,758

Item 1. Financial Statements

FAQ

What is Mercury General's property & casualty — ceded premiums earned?
Mercury General (MCY) reported property & casualty — ceded premiums earned of $62.67M in Q1 2026.
How has Mercury General's property & casualty — ceded premiums earned changed year-over-year?
Mercury General's property & casualty — ceded premiums earned decreased by 41.3% year-over-year, from $106.69M to $62.67M.
What is the long-term trend for Mercury General's property & casualty — ceded premiums earned?
Over 4 years (2021 to 2025), Mercury General's property & casualty — ceded premiums earned has grown at a 45.0% compound annual growth rate (CAGR), from $65.02M to $287.03M.
What does property & casualty — ceded premiums earned mean?
The portion of premiums ceded to reinsurers that has been recognized as revenue by the reinsurer over the policy period. It represents the cost of reinsurance protection that has been effectively utilized during the reporting period.

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