Mercury General Corp. - MCY STOCK NEWS

Mercury Insurance (NYSE: MCY) and the Anaheim Ducks have announced the return of their Get a Quote/Get 2 Tickets promotion, starting November 2024. The program offers two free Ducks game tickets to fans who complete an online Mercury auto insurance quote. In a new initiative, Mercury will also donate two additional tickets to the Anaheim Ducks Foundation for distribution to fans who cannot afford tickets. The partnership includes Mercury's continued sponsorship of the Dance Cam, with new activations planned for later in the season.

Mercury General (NYSE: MCY) reported strong Q3 2024 results with significant improvements across key metrics. Net income reached $230.9 million ($4.17 per diluted share), compared to a loss of $8.2 million in Q3 2023. Net premiums earned increased 21.1% to $1.32 billion, while net premiums written grew 17.9% to $1.42 billion. The combined ratio improved to 93.6% from 98.6%. Investment performance showed notable strength with net realized investment gains of $90.4 million, compared to losses of $71.1 million in the prior year. The company declared a quarterly dividend of $0.3175 per share, payable December 26, 2024.

Mercury Insurance (NYSE: MCY) has released safety guidelines for Halloween, focusing on home and auto protection. The company emphasizes the importance of property security and accident prevention during festivities. Key recommendations include clearing pathways, ensuring proper lighting, maintaining secure locks, practicing safe driving in residential areas, and reviewing insurance policies. Bonnie Lee, vice president of property claims, notes that Halloween can pose risks to homes and property, advising homeowners to take precautionary measures and verify their policy coverage.

Mercury General (NYSE: MCY) has announced that it will release its third quarter 2024 earnings report after the markets close on Tuesday, October 29, 2024. The company will simultaneously file its quarterly report on Form 10-Q with the Securities and Exchange Commission. Investors are advised to read the earnings press release in conjunction with the Form 10-Q filing.

Mercury General operates as a multiple line insurance organization, primarily offering personal automobile and homeowners insurance. The company distributes its products through a network of independent producers and direct-to-consumer sales channels across multiple states. For more information, interested parties can visit the company's website at http://www.mercuryinsurance.com.

Mercury Insurance is prepared to assist policyholders in Georgia affected by Hurricane Helene. Customers can report damages and losses through the claims hotline at (800) 503-3724 or digitally at https://www.mercuryinsurance.com/claims/residence-claim.html. The company offers a user-friendly web-based app and telephone options for initiating claims, with dedicated adjusters ready to evaluate storm-related damages.

To expedite the claims process, policyholders should:

• Contact Mercury immediately to report losses
• Protect property from further damage
• Provide policy number and contact information
• Prepare a complete description of damage with photos
• Keep records of additional expenses if forced to leave home

Mercury Insurance is prepared to assist Florida policyholders affected by Hurricane Helene. Customers can report damages and losses through Mercury's claims hotline at (800) 503-3724 or digitally via their website. The company offers a user-friendly web-based app and telephone options for initiating claims, with dedicated adjusters ready to evaluate storm-related damages.

Mercury provides guidance for policyholders to expedite the claims process, including:

• Contacting Mercury immediately to report losses
• Protecting vehicles from further damage
• Providing policy numbers and contact information
• Preparing descriptions and photos of damage
• Keeping records of additional expenses

The company also offers advice on post-hurricane cleanup through its resource center. Mercury encourages customers to review their insurance policies annually with local agents to ensure adequate coverage.

Mercury Insurance has been recognized by U.S. News & World Report as one of the 2024-25 Best Companies to Work For, marking the company's first appearance on this prestigious list. The recognition reflects Mercury's commitment to creating a supportive work environment and prioritizing employee growth and well-being.

Heidi Sullivan Lopez, Vice President and Chief Human Capital Officer at Mercury, emphasized the company's focus on evolving with team members' needs and fostering a family-like atmosphere. The U.S. News ratings consider various factors, including pay, benefits, work-life balance, job stability, and career development opportunities.

The 2024-25 list encompasses 549 companies across multiple industries and regions. Mercury Insurance, headquartered in Los Angeles, provides auto, homeowners, and business insurance through nearly 4,100 employees and a network of over 6,500 independent agents in 11 states.

Mercury Insurance expert Chong Gao discusses the total cost of ownership for different vehicle types, highlighting that EVs are typically 20% more expensive to insure than ICE vehicles and also costlier than hybrids. The article compares fueling/charging costs, maintenance, and insurance for ICE, hybrid, and electric vehicles.

Key points include:

• Hybrids offer better fuel efficiency than ICE vehicles
• 80% of EV charging is done at home, which is convenient but may require installation costs
• EVs have lower routine maintenance costs but may need more frequent tire replacements
• EV insurance costs are higher due to higher purchase prices and specialized repair needs

The best vehicle choice depends on individual budget, lifestyle, and preferences.

Mercury Insurance (NYSE: MCY) has launched a new personal umbrella insurance policy in Illinois, addressing the rising costs of bodily injury claims. This policy offers extra protection beyond traditional auto and home insurance for less than $1.00 a day. Key features include:

• Multi-policy discounts
• 3-year accident and violation-free discount
• Uninsured motorist coverage up to $1 million
• Increased liability coverage from $1 million to $5 million

The average amount for a liability claim has increased by 35% since the start of the pandemic. Mercury's umbrella policy aims to protect Illinoisans' personal wealth against unexpected accidents and litigious lawyers. This launch in Illinois follows similar rollouts in California, Texas, and Oklahoma.