Welcome to our dedicated page for Mercury General news (Ticker: $MCY), a resource for investors and traders seeking the latest updates and insights on Mercury General stock.
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Mercury Insurance and Tokio Marine America have collaborated on a plan to assist thousands of California consumers facing non-renewals. Tokio Marine America is transitioning out of the California personal lines market, and Mercury Insurance is stepping in to support agents and customers during this period. A diverse group of entities, including California independent insurance agents and the California Department of Insurance, have worked together on this project to provide coverage for affected consumers. The plan involves transitioning customers of Tokio Marine America and its subsidiary, Trans Pacific Insurance Company, to Mercury Insurance.
Mercury Insurance, listed as NYSE: MCY, offers homeowners tips for preparing for the 2024 hurricane season. The company collaborates with IBHS to provide key tasks for preparedness. Homeowners are advised on creating a family and home plan, staying informed with weather alerts, reviewing insurance, conducting home inspections, trimming trees, and servicing generators. The company emphasizes the importance of preparation to ensure a safer environment for families and cost savings in case of weather-related damage. Mercury Insurance also provides assistance to policyholders in case of damage due to hurricanes.
Mercury General reported its first quarter 2024 results, showing growth in net premiums earned and written, net income, and operating income. The company also declared a quarterly dividend of $0.3175 per share. The majority of 2024 catastrophe losses were due to winter storms and rainstorms in California and convective storms in Texas and Oklahoma. The favorable development on prior accident years' loss reserves was primarily in the private passenger automobile line of insurance business.
