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Mercury General MCY Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims

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Segments

By segment

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Property & Casualty$928.4M-23.7%
Other$4.5M+7.1%

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 us-gaap:LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1.

The source filing: Mercury General’s 10-K, filed February 17, 2026.

Filed
Feb 17, 2026, 4:10 PM EST
Fiscal year
FY2025
Accession
0000064996-26-000005
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Other26,78631,51719,609
Total revenues5,992,4685,475,6334,629,631
Expenses:
Losses and loss adjustment expenses3,963,0313,684,5113,517,853
Policy acquisition costs942,939858,261708,525
Other operating expenses394,226327,157279,656
Interest28,62330,82424,169
Total expenses5,328,8194,900,7534,530,203

Item 8.Financial Statements and Supplementary Data

FAQ

What is Mercury General's liability for unpaid claims and claims adjustment expense, incurred claims?
Mercury General (MCY) reported liability for unpaid claims and claims adjustment expense, incurred claims of $990.76M in Q4 2025.
How has Mercury General's liability for unpaid claims and claims adjustment expense, incurred claims changed year-over-year?
Mercury General's liability for unpaid claims and claims adjustment expense, incurred claims increased by 7.6% year-over-year, from $921.13M to $990.76M.
What is the long-term trend for Mercury General's liability for unpaid claims and claims adjustment expense, incurred claims?
Over 3 years (2022 to 2025), Mercury General's liability for unpaid claims and claims adjustment expense, incurred claims has grown at a 5.6% compound annual growth rate (CAGR), from $3.36B to $3.96B.
What does liability for unpaid claims and claims adjustment expense, incurred claims mean?
This metric measures the total estimated cost of claims that have been reported but not yet settled, as well as claims that have been incurred but not yet reported. It serves as a critical indicator of the company's future financial obligations and the adequacy of its loss reserves. Monitoring this helps investors assess the company's underwriting discipline and potential exposure to long-term liabilities.

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