---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-016668"
form_type: "8-K"
ticker: "MCY"
cik: "0000064996"
company_name: "MERCURY GENERAL CORP"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:06:30.802076+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mercury General Q1 net loss $45M; combined ratio 115.8%; catastrophe losses surge 345%

## Summary
- Net loss of $45.3M ($0.82/diluted share) vs $196.9M loss in Q1 2022; operating loss $84M.
- Net premiums earned $1.005B (+4.4% YoY); combined ratio 115.8% (up 6.3 pts).
- Catastrophe losses $98M (up 345% from $22M) due to winter storms in CA, TX, OK.
- Board declares $0.3175 quarterly dividend, payable June 29 to holders of record June 15.
- Inflation pressures continue to hurt auto loss severity; rate increases filed in multiple states including CA.

## SEC filing metadata
- accession: 0000950170-23-016668
- form_type: 8-K
- ticker: MCY
- cik: 0000064996
- company_name: MERCURY GENERAL CORP
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64996/000095017023016668/0000950170-23-016668-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64996/000095017023016668/mcy-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-016668
- JSON: https://secwatch.observer/filing/0000950170-23-016668.json
- Plain text: https://secwatch.observer/filing/0000950170-23-016668.txt

## Key facts
- Earnings Releases
  MERCURY GENERAL CORP reported first quarter ended March 31, 2023 results: revenue $1,004,704, net income $(45,288), EPS $(0.82).
  - Period: first quarter ended March 31, 2023
  - Revenue: $1,004,704
  - Net income: $(45,288)
  - EPS: $(0.82)
  - Result: reported results
  source text: Net premiums earned $ 1,004,704 $ 962,550 $ 42,154 4.4 Net premiums written (1) (2) $ 1,010,202 $ 1,010,798 $ (596) (0.1) Net realized investment gains (losses), net of tax (3) $ 38,716 $ (154,118) $ 192,834 NM Net loss $ (45,288) $ (196,917) $ 151,629 NM Net loss per diluted share (4) $ (0.82) $ (3.56) $ 2.74 NM
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000095017023016668/0000950170-23-016668-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.