Mercury General underwriting profits rise 60% as frequency benefits outweigh $39mn in cats
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Mercury General underwriting profits rise 60% as frequency benefits outweigh $39mn in cats

James Thaler
May 04, 2021
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Mercury General’s underwriting income grew by 60%, to nearly $60mn in the first quarter, as the benefits from lower claims frequency outweighed a sharp rise in catastrophe losses, mostly from Winter Storm Uri.

The California-based underwriter reported $1.34 a share in operating income, a 25% gain over the year before, despite net investment income (NII) coming in lower.

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