---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-033701"
form_type: "8-K"
ticker: "MCY"
cik: "0000064996"
company_name: "MERCURY GENERAL CORP"
filed_at: "2024-02-13T23:59:59+00:00"
generated_at: "2026-06-06T03:55:19.296115+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mercury General Q4 net income $191M vs loss; combined ratio 98.6%; declares $0.3175 dividend

## Summary
- Q4 net income $191.4M ($3.46 diluted EPS) vs loss $6.8M ($0.12 loss) a year ago; operating income $63.6M ($1.15 per share).
- Combined ratio improved to 98.6% in Q4 from 115.8% YoY; full-year 105.4% vs 108.7%.
- California DOI approved auto rate hikes of 22.5% (MIC) and 3.8% (CAIC), effective late Feb 2024; these lines represent ~53% of earned premiums.
- Quarterly dividend declared $0.3175 per share, payable March 27, 2024 to holders of record March 13, 2024.
- Q4 catastrophe losses fell to $16M from $40M; Jan 2024 California atmospheric river storm losses not yet estimable.

## SEC filing metadata
- accession: 0001193125-24-033701
- form_type: 8-K
- ticker: MCY
- cik: 0000064996
- company_name: MERCURY GENERAL CORP
- filed_at: 2024-02-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/64996/000119312524033701/0001193125-24-033701-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64996/000119312524033701/d730120d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-033701
- JSON: https://secwatch.observer/filing/0001193125-24-033701.json
- Plain text: https://secwatch.observer/filing/0001193125-24-033701.txt

## Key facts
- Earnings Releases
  MERCURY GENERAL CORP reported the fiscal year ended December 31, 2023 results: revenue $ 4,274,378, net income $ 96,336, EPS $ 1.74.
  - Period: the fiscal year ended December 31, 2023
  - Revenue: $ 4,274,378
  - Net income: $ 96,336
  - EPS: $ 1.74
  - Result: reported results
  source text: Twelve Months Ended December 31, Change 2023 2022 $ % 2023 2022 $ % (000’s except per-share amounts and ratios) Net premiums earned $ 1,144,895 $ 1,005,482 $ 139,413 13.9 % $ 4,274,378 $ 3,952,482 $ 321,896 8.1 % Net premiums written (1) $ 1,132,150 $ 915,750 $ 216,400 23.6 % $ 4,464,199 $ 3,978,017 $ 486,182 12.2 % Net realized investment gains (losses), net of
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000119312524033701/0001193125-24-033701-index.htm
- Earnings Releases
  MERCURY GENERAL CORP reported the fourth quarter ended December 31, 2023 results: revenue $ 1,144,895, net income $ 191,394, EPS $ 3.46.
  - Period: the fourth quarter ended December 31, 2023
  - Revenue: $ 1,144,895
  - Net income: $ 191,394
  - EPS: $ 3.46
  - Result: reported results
  source text: Three Months Ended December 31, Change Twelve Months Ended December 31, Change 2023 2022 $ % 2023 2022 $ % (000’s except per-share amounts and ratios) Net premiums earned $ 1,144,895 $ 1,005,482 $ 139,413 13.9 % $ 4,274,378 $ 3,952,482 $ 321,896 8.1 % Net premiums written (1) $ 1,132,150 $ 915,750 $ 216,400 23.6 % $ 4,464,199 $ 3,978,017 $ 486,182 12.2 % Net
  evidence_url: https://www.sec.gov/Archives/edgar/data/64996/000119312524033701/0001193125-24-033701-index.htm

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