Mercury General 3Q 2026: Revenue $1.38B, EPS ($0.25) — 10-Q Summary

Mercury General Corp. reported a third-quarter 2026 net loss of $13.7 million, compared with net income of $280.4 million a year earlier, as $261.9 million in net realized investment losses weighed on results. Revenue was $1.38 billion, down 12.9% from $1.58 billion, and diluted EPS was a loss of $0.25 versus earnings of $5.06.

Financial Highlights

• Revenue was $1.38B, compared with $1.58B in the prior-year quarter; YoY change (12.9%).
• Net loss was $13.7M, compared with net income of $280.4M in the prior-year quarter.
• Diluted EPS was a loss of $0.25, compared with $5.06 in the prior-year quarter.

Business Highlights

• Nine-month net premiums earned rose 10.7%, supported by California homeowners rate increases, policy growth and lower ceded premiums.
• Direct premiums written reached $4.89B for the nine months. California accounted for 83.0% of the total, with private auto representing 57.6% and homeowners 29.2%.
• The nine-month combined ratio improved to 89.8% from 99.0%, helped by lower catastrophe losses than in 2025.
• New catastrophe modeling and reinsurance-based rates for California homeowners took effect in July 2026. The company said it will meet state market-share requirements.
• Mercury filed for an approximately 5.7% California private auto rate increase in August 2026, with a targeted effective date of July 2027.

Original SEC Filing: MERCURY GENERAL CORP [ MCY ] - 10-Q - Nov. 03, 2026