Mercury General full-year net loss $512.7M, Q4 combined ratio 115.8%

MERCURY GENERAL CORP

2022-FY EPS reported -$9.26 revenue$3,643,066,000

Q4 net loss $6.8M, diluted loss $0.12; full-year net loss $512.7M, diluted loss $9.26.
Combined ratio 115.8% Q4 vs 105.4% LY; full year 108.7% vs 98.3%.
Operating loss $80.4M Q4, $1.45 per diluted share; full-year operating loss $127.1M.
California DOI approved 6.9% rate increase for MIC & CAIC; plans another 6.9% filing in March.
Q4 catastrophe losses $43M; Jan 2023 atmospheric river storms estimated $35M in Q1 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MERCURY GENERAL CORP reported fourth quarter ended December 31, 2022 results: net income Net (loss) income of $(6,770) thousand, EPS Net (loss) income per diluted share of $(0.12).

Period: fourth quarter ended December 31, 2022
Net income: Net (loss) income of $(6,770) thousand
EPS: Net (loss) income per diluted share of $(0.12)
Result: reported results

Exact text from the filing

Mercury General Corporation (NYSE: MCY) reported today the fourth quarter and fiscal 2022 results: Consolidated Highlights

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Source: SEC EDGAR

accession 0000950170-23-002780

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