Mercury General
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The ratings agency has revised Mercury’s outlook from stable to negative. -
The company will ‘aggressively pursue subrogation’ for the Eaton Fire.
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The LA-based carrier said it did not expect the event to result in credit defaults.
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The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
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The company’s stock price has plummeted in the wake of the LA wildfires.
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Insurance Insider US runs you through the earnings results for the day.
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Sources said that TMA ran a profitable book in California that included personal auto and homeowners’ policies.
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The executive will continue reporting directly to Mercury General CEO Gabriel Tirador.
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The Inside P&C news team runs you through the earnings results for the day.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Inside P&C news team runs you through the earnings results for the day.
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