Mercury General

Insurance Insider US runs you through the earnings results for the day.

Sources said that TMA ran a profitable book in California that included personal auto and homeowners’ policies.

The executive will continue reporting directly to Mercury General CEO Gabriel Tirador.

The Inside P&C news team runs you through the earnings results for the day.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

The cat losses outweighed the Q1 $15mn reserve charge that resulted from lower-than-estimated losses and loss adjustment expenses in the homeowners’ business.

The downgrades have been implemented due to the group’s significant earnings deterioration in 2022 and declining investment performance.

On Tuesday, the personal auto-focused carrier reported a 10.4-point deterioration in its combined ratio to 115.8%.

The carrier cited inflation, repair and part costs, supply chain issues and labor shortages as the drivers behind an increase in auto loss severity.

Need to Know

The carrier cited inflation, supply chain issues and labor shortages as the drivers behind an increase in auto loss severity and its third-quarter loss ratio compared to Q3 2021.