secwatch.observer — SEC 8-K summary
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Issuer:     MERCURY GENERAL CORP (MCY)
CIK:        0000064996
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0001564590-22-017433
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mercury General reports Q1 net loss of $196.9M; combined ratio worsens to 109.5%
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- Net loss of $196.9M ($3.56 diluted loss) vs net income of $107.0M ($1.93 diluted EPS) in Q1 2021.
- Operating loss of $42.8M ($0.77 per share) vs operating income of $74.1M ($1.34 per share) a year ago.
- Combined ratio deteriorated to 109.5% from 93.5%, driven by adverse reserve development of $53M and catastrophe losses of $22M.
- Net realized investment losses of $154.1M after tax, compared to gains of $32.9M in prior year.
- Declared quarterly dividend of $0.6350 per share, payable June 30, 2022 to shareholders of record June 16, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/64996/000156459022017433/0001564590-22-017433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/64996/000156459022017433/mcy-8k_20220503.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-017433

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