Mercury General Q4 net income drops 81.7% to $0.55 EPS; combined ratio worsens to 105.4%

MERCURY GENERAL CORP

2021-FY EPS reported $4.48 revenue$3,993,357,000

Q4 net income $30.5M ($0.55 diluted) vs $166.7M ($3.01) a year ago; operating loss per share ($0.23).
Combined ratio 105.4% in Q4 vs 93.3% prior year, driven by catastrophe losses and lower investment gains.
Full-year net premiums earned $3.74B, up 5.2% YoY; catastrophe losses totaled $104M for Q4 and $109M for FY.
Board declared quarterly dividend of $0.6350/share, payable March 30, 2022 to holders of record March 16.

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