Mercury General Q2 net income jumps 166% to $166.5M on lower catastrophe losses; combined ratio improves to 92.5%

MERCURY GENERAL CORP

2025-Q2 EPS reported $1.05 vs consensus $1.67 ▼ miss (-37.0%)

Diluted EPS $3.01 vs $1.13 a year ago; operating EPS $2.67 vs $1.09.
Net premiums earned up 10.6% to $1.367B; combined ratio 92.5% (improved 6.4 pts).
Catastrophe losses net of reinsurance fell to $13M in Q2 from $125M, aided by $50M subrogation on wildfires.
Board declares $0.3175/sh quarterly dividend payable Sept. 25, 2025 (record Sept. 11).
Updated on Palisades/Eaton wildfires: net losses $359M YTD; $528M subrogation recorded vs SCE.

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