Mercury General Q1 CoR climbs 6.3 points to 115.8% as cat losses offset reserve releases
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Mercury General Q1 CoR climbs 6.3 points to 115.8% as cat losses offset reserve releases

Jairo Ibarra
May 02, 2023
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Mercury General’s Q1 combined ratio rose 6.3 points to 115.8%, driven by catastrophe losses stemming from winter storms and rainstorms in California, Texas and Oklahoma.

The Californian insurer booked $98mn cat losses in the first quarter, up from $22mn a year ago.

The firm did not receive any reinsurance benefits related to the quarter’s cat losses, as none of the events individually resulted in losses...

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Jairo Ibarra
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