Mercury General
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Headline rate changes at lows not seen since 2007/8, in line with Q2:19 management commentary pointing to growth initiatives, and peak margins at leading firms. -
Robert Houlihan has been recruited from Mercury to serve as chief insurance officer.
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The California Supreme Court refused the insurer’s final appeal against the penalty for illegal auto insurance fees.
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Mercury and NatGen highlight challenges of companies dependent on reinsurance facing higher implied cost of capital.
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Chief executive confirms “sizeable rate increases in each layer”.
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The Californian carrier is to revise programme after handing $216mn wildfire loss to reinsurers.
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