Mercury General Reports Q2 Net Income of $114.4 Million

Los Angeles-based Mercury General Corp. has reported its results for the second quarter of 2009.

Net income in the second quarter 2009 was $114.4 million compared with net income of $70.7 million for the same period in 2008. For the first six months of 2009, net income was $211.1 million compared with net income of $66.8 million for the same period in 2008. Operating income was $47.3 million for the second quarter of 2009, a 0.7 percent increase over the same period in 2008, and $93.3 million for the first six months of 2009, a 9.3 percent decrease over the same period in 2008.

The company’s combined ratio was 96.1 percent for the quarter, compared with 97 percent for the same period in 2008. For the first six months of 2009, the combined ratio was 96.5 percent compared with 96.2 percent for the same period in 2008.

For more information, visit http://www.mercuryinsurance.com/.

Topics Profit Loss