Mercury General reports Q2 net loss of $210.7M, combined ratio 106.6%, dividend cut to $0.3175

MERCURY GENERAL CORP

2022-Q2 EPS reported -$7.36 revenue$1,591,086,000

Net loss of $210.7M ($3.80 diluted loss) vs net income of $109.2M in Q2 2021.
Net premiums earned $987.5M, up 6.5% YoY; combined ratio deteriorated to 106.6% from 94.9%.
Operating loss (non-GAAP) of $19.6M vs operating income of $62.7M in prior year.
Net realized investment losses of $191.1M after tax, driven by equity market decline under fair value option.
Quarterly dividend declared at $0.3175 per share, reduced from prior periods due to inflation; payable Sept 29 to holders of record Sept 15.

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