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Mercury General MCY Property & Casualty — Losses

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HMNProperty & Casualty — Catastrophe losses
$24.2M-18.5%
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HMNProperty & Casualty — Acquisitions
$0
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HMNProperty & Casualty — Goodwill
$9.5M0.0%
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HMNProperty & Casualty — Goodwill, Impairment Loss
$0
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HMNProperty & Casualty — Loss adjustment expenses
$18.5M+8.2%
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HMNProperty & Casualty — Segment Profit (Loss)
$25.8M+56.4%

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/S+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 mcy:LiabilityForUnpaidClaimsIncurredClaims.

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, 2026 / Property & CasualtyThree Months Ended March 31, 2026 / OtherThree Months Ended March 31, 2026 / TotalThree Months Ended March 31, 2025 / Property & CasualtyThree Months Ended March 31, 2025 / OtherThree Months Ended March 31, 2025 / Total
Net premiums earned$1,445.1$7.3$1,452.4$1,275.8$7.3$1,283.1
Less:
Losses792.74.0796.71,065.63.71,069.3
Loss adjustment expenses135.70.5136.2151.00.5151.5
Losses and loss adjustment expenses928.44.5932.91,216.64.21,220.8
Policy acquisition costs237.82.7240.5225.82.9228.7
Other operating expenses123.10.8123.978.90.679.5
Underwriting gain (loss)155.8(0.7)155.1(245.5)(0.4)(245.9)

Item 1. Financial Statements

FAQ

What is Mercury General's property & casualty — losses?
Mercury General (MCY) reported property & casualty — losses of $792.7M in Q1 2026.
How has Mercury General's property & casualty — losses changed year-over-year?
Mercury General's property & casualty — losses decreased by 25.6% year-over-year, from $1.07B to $792.7M.
What is the long-term trend for Mercury General's property & casualty — losses?
Over 3 years (2022 to 2025), Mercury General's property & casualty — losses has grown at a 5.4% compound annual growth rate (CAGR), from $2.85B to $3.34B.
What does property & casualty — losses mean?
The total amount of claims paid or reserved for during the period resulting from insured events. This is a primary measure of underwriting quality and the accuracy of initial risk pricing.

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