Mercury General Q2 net income $62.6M; combined ratio improves to 98.9%

MERCURY GENERAL CORP

2024-Q2 EPS reported $2.46 revenue$2,579,080,000

Net income of $62.6M ($1.13/diluted share) vs. loss of $41.5M ($0.75) in Q2 2023.
Net premiums earned rose 19.5% to $1.24B; net premiums written up 21.5% to $1.36B.
Combined ratio improved 11.2 points to 98.9% (from 110.1%) driven by underwriting improvement.
Catastrophe losses net of reinsurance were $125M vs. $92M in prior-year quarter.
Board declared quarterly dividend of $0.3175 per share, payable Sept 26 to holders of record Sept 12.

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