Mercury General Corporation
mercuryinsurance.comWhat Do They Do?
Sells personal automobile insurance and related property and casualty coverage, including homeowners and commercial automobile insurance, to individuals and small businesses.
10-K for FY2025, filed Feb 17, 2026
How Do They Make Money?
Policyholders pay premiums for automobile and related property and casualty coverage, generally before coverage starts; the premiums are earned over each policy term.
10-K for FY2025, filed Feb 17, 2026 8-K, filed Jun 9, 2026The majority of the Company's premiums receivable are short-term in nature and are due within a year, consistent with the policy term of…View ↗
Net premiums earned, the most directly comparable GAAP measure to net premiums written and direct premiums written, represents the portion…View ↗
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10-K for FY2025, filed Feb 17, 2026
FY2025 revenue by reportable segment (Underwriting gain (loss)) ↗
$6B
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10-K for FY2025, filed Feb 17, 2026
$6B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Property & Casualty
Recurring
|
102%
FY2022: 100%
|
Property & Casualty, FY2025
$209.1M Sources
|
Recurring |
|
Other
|
−1.8%
FY2022: −0.5%
|
Other, FY2025
−$3.7M Sources
|
Who Are Their Customers?
Individuals and small businesses buy insurance mainly through independent and company-owned agents. Some policies are sold through internet portals and then assigned to agents for service.
10-K for FY2025, filed Feb 17, 2026
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 17 cents into free cash flow.
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
$263.5MView ↗
- ▲ +58%
- vs $166.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
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Aug 26, 2026
CEO appointed chairman after founder's passing
The company announced founder and longtime chairman George Joseph's passing and CEO Gabriel Tirador's appointment as board chairman.
Sources
8-K, filed Aug 26, 2026
On August 26, 2026, Mercury General Corporation (the “Company”) announced the passing of George Joseph, the Company’s founder and longtime…View ↗
Growing. Revenue grew 50% in 4 years, from $4B in FY2021 to $6B in FY2025, about 11% a year.
Sales channels
The older report describes policies as mostly sold through independent agents; the latest also describes company-owned agencies and internet portals, with portal policies assigned to agents for service.
10-K for FY2022, filed Feb 14, 2023 10-K for FY2025, filed Feb 17, 2026Mercury General Corporation ("Mercury General") and its subsidiaries (referred to herein collectively as the "Company") are primarily…View ↗
The Company sells its policies through a network of approximately 8,510 independent agents, its 100% owned insurance agencies, AIS and…View ↗
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