2021 Q4 Form 10-Q Financial Statement

#000006499621000031 Filed on November 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.049B $932.2M $998.8M
YoY Change -2.08% -6.66% 1.16%
Cost Of Revenue $3.000M $2.800M
YoY Change 7.14% 12.0%
Gross Profit $929.2M $996.0M
YoY Change -6.7% 1.14%
Gross Profit Margin 99.68% 99.72%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.21M $153.1M $157.4M
YoY Change 21.46% -2.73% 4.31%
% of Gross Profit 16.48% 15.8%
Operating Expenses $1.010B $931.3M $847.9M
YoY Change 17.43% 9.84% -6.02%
Operating Profit -$2.114M $148.1M
YoY Change -101.43% 79.28%
Interest Expense -$4.268M $4.300M $4.300M
YoY Change -0.74% 0.0% 0.0%
% of Operating Profit 2.9%
Other Income/Expense, Net
YoY Change
Pretax Income $34.87M -$3.400M $146.6M
YoY Change -83.17% -102.32% 81.35%
Income Tax $4.393M -$4.669M $27.77M
% Of Pretax Income 12.6% 18.95%
Net Earnings $30.47M $1.300M $118.9M
YoY Change -81.72% -98.91% 71.62%
Net Earnings / Revenue 2.9% 0.14% 11.9%
Basic Earnings Per Share $0.02 $2.15
Diluted Earnings Per Share $550.3K $0.02 $2.15
COMMON SHARES
Basic Shares Outstanding 55.37M shares 55.37M shares 55.36M shares
Diluted Shares Outstanding 55.38M shares 55.36M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $335.6M $341.6M $322.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $7.600M $7.258M $10.00M
YoY Change -28.97% -27.42% 78.57%
LONG-TERM ASSETS
Property, Plant & Equipment $191.3M $185.9M $174.9M
YoY Change 6.94% 6.29% 3.94%
Goodwill $42.80M $42.80M $42.80M
YoY Change 0.0% 0.0% 0.0%
Intangibles $10.26M $10.52M $9.939M
YoY Change -9.42% 5.87% -16.5%
Long-Term Investments $5.143B $5.075B $4.549B
YoY Change 8.74% 11.56% 7.84%
Other Assets $10.42M
YoY Change
Total Long-Term Assets $6.765B $6.747B $6.136B
YoY Change 7.08% 9.96% 4.57%
TOTAL ASSETS
Total Short-Term Assets $7.600M $7.258M $10.00M
Total Long-Term Assets $6.765B $6.747B $6.136B
Total Assets $6.772B $6.754B $6.146B
YoY Change 7.02% 9.9% 4.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $169.1M $182.1M $180.3M
YoY Change -13.0% 1.02% 15.36%
Accrued Expenses $34.58M $36.84M $44.60M
YoY Change -21.06% -17.39% -8.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $203.7M $219.0M $231.3M
YoY Change -18.06% -5.33% 12.83%
LONG-TERM LIABILITIES
Long-Term Debt $372.9M $372.8M $372.4M
YoY Change 0.12% 0.12% 0.11%
Other Long-Term Liabilities $255.8M $290.7M $246.7M
YoY Change 8.33% 17.83% 5.7%
Total Long-Term Liabilities $628.7M $663.5M $619.1M
YoY Change 3.3% 7.17% 2.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.7M $219.0M $231.3M
Total Long-Term Liabilities $628.7M $663.5M $619.1M
Total Liabilities $4.632B $4.609B $4.245B
YoY Change 7.83% 8.59% 4.28%
SHAREHOLDERS EQUITY
Retained Earnings $2.041B $2.046B $1.802B
YoY Change 5.57% 13.55% 5.75%
Common Stock $98.94M $98.91M $98.93M
YoY Change -0.03% -0.03% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.140B $2.145B $1.901B
YoY Change
Total Liabilities & Shareholders Equity $6.772B $6.754B $6.146B
YoY Change 7.02% 9.9% 4.64%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $30.47M $1.300M $118.9M
YoY Change -81.72% -98.91% 71.62%
Depreciation, Depletion And Amortization $27.21M $153.1M $157.4M
YoY Change 21.46% -2.73% 4.31%
Cash From Operating Activities $73.56M $110.8M $183.7M
YoY Change -54.68% -39.69% 24.12%
INVESTING ACTIVITIES
Capital Expenditures -$11.94M -$11.70M -$10.00M
YoY Change 17.1% 16.96% -8.26%
Acquisitions
YoY Change
Other Investing Activities -$32.44M -$100.7M -$78.80M
YoY Change -64.04% 27.79% 189.71%
Cash From Investing Activities -$44.38M -$112.4M -$88.80M
YoY Change -55.79% 26.57% 132.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.22M -35.40M -34.80M
YoY Change -1.07% 1.72% 0.29%
NET CHANGE
Cash From Operating Activities 73.56M 110.8M 183.7M
Cash From Investing Activities -44.38M -112.4M -88.80M
Cash From Financing Activities -35.22M -35.40M -34.80M
Net Change In Cash -6.049M -37.01M 60.10M
YoY Change -123.0% -161.58% -19.97%
FREE CASH FLOW
Cash From Operating Activities $73.56M $110.8M $183.7M
Capital Expenditures -$11.94M -$11.70M -$10.00M
Free Cash Flow $85.50M $122.5M $193.7M
YoY Change -50.44% -36.77% 21.9%

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-28458000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
58529000 USD
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
18075000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
1437000 USD
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-37241000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
22454000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-6075000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
16280000 USD
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
18296000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
150817000 USD
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
20731000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
139424000 USD
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
77002000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-12958000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
38879000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
106000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
106000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
31965000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
12650000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
428029000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
443252000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1044819000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
686541000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
117754000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
127336000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
397524000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
154180000 USD
mcy Paymentsto Acquire Equity Securities Fvni
PaymentstoAcquireEquitySecuritiesFVNI
695393000 USD
mcy Paymentsto Acquire Equity Securities Fvni
PaymentstoAcquireEquitySecuritiesFVNI
1001624000 USD
mcy Proceedsfrom Saleof Equity Securities Fvni
ProceedsfromSaleofEquitySecuritiesFVNI
689484000 USD
mcy Proceedsfrom Saleof Equity Securities Fvni
ProceedsfromSaleofEquitySecuritiesFVNI
849964000 USD
mcy Proceeds From Equity Securities Calls Of Equity Securities Available For Sale
ProceedsFromEquitySecuritiesCallsOfEquitySecuritiesAvailableForSale
0 USD
mcy Proceeds From Equity Securities Calls Of Equity Securities Available For Sale
ProceedsFromEquitySecuritiesCallsOfEquitySecuritiesAvailableForSale
3880000 USD
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-20267000 USD
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-11923000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-213553000 USD
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-240673000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
29498000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
29764000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1842000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-19078000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-329286000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-310895000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
105066000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
104626000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
215000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
765000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-105616000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-104626000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6873000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
27731000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
348479000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
294398000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
341606000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
322129000 USD
us-gaap Interest Paid Net
InterestPaidNet
16584000 USD
us-gaap Interest Paid Net
InterestPaidNet
16573000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
69432000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
37453000 USD
us-gaap Use Of Estimates
UseOfEstimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates require the Company to apply complex assumptions and judgments, and often the Company must make estimates about the effects of matters that are inherently uncertain and will likely change in subsequent periods. The most significant assumptions in the preparation of these consolidated financial statements relate to reserves for losses and loss adjustment expenses ("LAE"). Actual results could differ from those estimates. See Note 1. Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
68000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
68000 shares
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.6325
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.6300
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.8975
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.8900
CY2021Q3 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
153100000 USD
CY2020Q3 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
157400000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
468600000 USD
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
463600000 USD
CY2021Q3 us-gaap Advertising Expense
AdvertisingExpense
19400000 USD
CY2020Q3 us-gaap Advertising Expense
AdvertisingExpense
10800000 USD
us-gaap Advertising Expense
AdvertisingExpense
40700000 USD
us-gaap Advertising Expense
AdvertisingExpense
31700000 USD
CY2021Q3 us-gaap Reinsurance Recoverables Gross
ReinsuranceRecoverablesGross
31000000 USD
us-gaap Reinsurance Retention Policy Reinsured Risk Percentage
ReinsuranceRetentionPolicyReinsuredRiskPercentage
0.71
us-gaap Reinsurance Retention Policy Excess Retention Amount Reinsured
ReinsuranceRetentionPolicyExcessRetentionAmountReinsured
792000000 USD
us-gaap Reinsurance Retention Policy Amount Retained
ReinsuranceRetentionPolicyAmountRetained
40000000 USD
CY2021Q3 us-gaap Ceded Premiums Earned
CededPremiumsEarned
17000000 USD
CY2020Q3 us-gaap Ceded Premiums Earned
CededPremiumsEarned
15000000 USD
us-gaap Ceded Premiums Earned
CededPremiumsEarned
48000000 USD
us-gaap Ceded Premiums Earned
CededPremiumsEarned
41000000 USD
CY2021Q3 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
1000000 USD
CY2020Q3 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
7000000 USD
us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
4000000 USD
us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
23000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4600000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4500000 USD
CY2021Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
3000000 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
15900000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
13700000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
9900000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
9000000 USD
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 USD
CY2021Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 USD
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 USD
CY2021Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
4500000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
4800000 USD
CY2021Q3 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
4200000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
2100000 USD
CY2021Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
800000 USD
CY2020Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
600000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2100000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1200000 USD
CY2021Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 USD
CY2020Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
10000000 USD
CY2020Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
10000000 USD
CY2019Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
1445000 USD
CY2021Q3 us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-694000 USD
CY2020Q3 us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-559000 USD
us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
1837000 USD
us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-9448000 USD
CY2021Q3 mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
838000 USD
CY2020Q3 mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
735000 USD
mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
2610000 USD
mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
3279000 USD
CY2021Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
144000 USD
CY2020Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
176000 USD
us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
447000 USD
us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
531000 USD
CY2021Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 USD
CY2020Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
10000000 USD
CY2021Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 USD
CY2020Q3 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
10000000 USD
CY2021Q2 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
0 USD
CY2020Q2 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
88000 USD
CY2020Q4 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
91000 USD
CY2019Q4 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
0 USD
CY2021Q3 us-gaap Reinsurance Recoverable Credit Loss Expense Reversal
ReinsuranceRecoverableCreditLossExpenseReversal
0 USD
CY2020Q3 us-gaap Reinsurance Recoverable Credit Loss Expense Reversal
ReinsuranceRecoverableCreditLossExpenseReversal
-30000 USD
us-gaap Reinsurance Recoverable Credit Loss Expense Reversal
ReinsuranceRecoverableCreditLossExpenseReversal
-91000 USD
us-gaap Reinsurance Recoverable Credit Loss Expense Reversal
ReinsuranceRecoverableCreditLossExpenseReversal
-101000 USD
CY2021Q3 us-gaap Reinsurance Loss On Uncollectible Accounts In Period Amount
ReinsuranceLossOnUncollectibleAccountsInPeriodAmount
0 USD
CY2020Q3 us-gaap Reinsurance Loss On Uncollectible Accounts In Period Amount
ReinsuranceLossOnUncollectibleAccountsInPeriodAmount
0 USD
us-gaap Reinsurance Loss On Uncollectible Accounts In Period Amount
ReinsuranceLossOnUncollectibleAccountsInPeriodAmount
0 USD
us-gaap Reinsurance Loss On Uncollectible Accounts In Period Amount
ReinsuranceLossOnUncollectibleAccountsInPeriodAmount
0 USD
CY2021Q3 us-gaap Reinsurance Recoverable Allowance For Credit Loss Recovery
ReinsuranceRecoverableAllowanceForCreditLossRecovery
0 USD
CY2020Q3 us-gaap Reinsurance Recoverable Allowance For Credit Loss Recovery
ReinsuranceRecoverableAllowanceForCreditLossRecovery
0 USD
us-gaap Reinsurance Recoverable Allowance For Credit Loss Recovery
ReinsuranceRecoverableAllowanceForCreditLossRecovery
0 USD
us-gaap Reinsurance Recoverable Allowance For Credit Loss Recovery
ReinsuranceRecoverableAllowanceForCreditLossRecovery
0 USD
CY2021Q3 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
0 USD
CY2020Q3 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
58000 USD
CY2021Q3 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
0 USD
CY2020Q3 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
58000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
Recently Issued Accounting Standards <span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">" ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or other interbank offered rates expected to be discontinued because of reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. The Company expects to apply the optional expedients in this ASU to its unsecured credit facility that references LIBOR (see Note 11), when the facility is modified with a replacement rate before LIBOR is discontinued. The Company does not expect any material impact on its consolidated financial statements and related disclosures resulting from applying this ASU.</span>
CY2017Q3 mcy Numberof Acres
NumberofAcres
6 acre
CY2017Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12200000 USD
CY2017Q3 mcy Promissory Note Receivedin Sale Of Property Plantand Equipment
PromissoryNoteReceivedinSaleOfPropertyPlantandEquipment
5700000 USD
CY2017Q3 mcy Stated Interest Rate On Promissory Note
StatedInterestRateOnPromissoryNote
0.035
CY2021Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-46131000 USD
CY2020Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
58865000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
25182000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-15296000 USD
mcy Percentage Of Unadjusted Fair Value Obtained
PercentageOfUnadjustedFairValueObtained
0.979
CY2021Q3 mcy Two Private Equity Funds Using Nav
TwoPrivateEquityFundsUsingNAV
105000000 USD
CY2021Q3 mcy One Private Equity Fund Using Nav
OnePrivateEquityFundUsingNAV
1200000 USD
mcy Fair Value Assets Level1 To Level2 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel2ToLevel3TransfersAmount
0 USD
mcy Fair Value Assets Level1 To Level2 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel2ToLevel3TransfersAmount
0 USD
CY2021Q3 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 USD
CY2020Q3 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 USD
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 USD
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 USD
CY2021Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
75962000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
65440000 USD
CY2021Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
10522000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
75962000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
64640000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
11322000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
267000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
254000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1043000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
879000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
851000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
807000 USD
CY2021Q3 mcy Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
5275000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9122000 USD
CY2018Q1 mcy Numberof Executives
NumberofExecutives
4 executive
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
8.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3318
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0262
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0540
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P72M
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
100000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y4M24D
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the activity in loss and loss adjustment expense reserves:</span></div><div style="margin-top:5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.530%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.036%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended September 30,</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Amounts in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gross reserves, beginning of period</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,991,304 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,921,255 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reinsurance recoverables on unpaid losses, beginning of period</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(54,460)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(76,100)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">              Cumulative effect of adopting ASU 2016-13 for reinsurance recoverables on unpaid losses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">149 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:18pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reinsurance recoverables on unpaid losses, beginning of period, as adjusted</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(54,460)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(75,951)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net reserves, beginning of period, as adjusted</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,936,844 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,845,304 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Incurred losses and loss adjustment expenses related to:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,005,233 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,740,116 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(23,714)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,511 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total incurred losses and loss adjustment expenses</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,981,519 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,765,627 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss and loss adjustment expense payments related to:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,088,285 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">937,373 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">739,385 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">786,180 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total payments</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,827,670 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,723,553 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net reserves, end of period</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,090,693 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,887,378 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reinsurance recoverables on unpaid losses, end of period</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">51,428 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">54,608 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gross reserves, end of period</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,142,121 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,941,986 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">__________ </span></div>(1) See Note 1 for additional information on adoption of ASU 2016-13.
CY2020Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1991304000 USD
CY2019Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1921255000 USD
CY2020Q4 mcy Reissuance Recoverable
ReissuanceRecoverable
54460000 USD
CY2019Q4 mcy Reissuance Recoverable
ReissuanceRecoverable
76100000 USD
CY2020Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1936844000 USD
CY2019Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1845304000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
2005233000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1740116000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-23714000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
25511000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1981519000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1765627000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
1088285000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
937373000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
739385000 USD
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
786180000 USD
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
1827670000 USD
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
1723553000 USD
CY2021Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
2090693000 USD
CY2020Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1887378000 USD
CY2021Q3 mcy Reissuance Recoverable
ReissuanceRecoverable
51428000 USD
CY2020Q3 mcy Reissuance Recoverable
ReissuanceRecoverable
54608000 USD
CY2021Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2142121000 USD
CY2020Q3 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1941986000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-23700000 USD
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
25500000 USD
CY2021Q3 mcy Notes Payable Principal
NotesPayablePrincipal
375000000 USD
CY2020Q4 mcy Notes Payable Principal
NotesPayablePrincipal
375000000 USD
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2169000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2468000 USD
CY2021Q3 us-gaap Notes Payable
NotesPayable
372831000 USD
CY2020Q4 us-gaap Notes Payable
NotesPayable
372532000 USD
CY2017Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.044
CY2017Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3400000 USD
CY2017Q1 mcy Debt Instrument Discount Percent
DebtInstrumentDiscountPercent
0.99847
CY2017Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0445
CY2021Q3 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
0.149
CY2021Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
200000 USD
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
128000000 USD
CY2021Q3 mcy Number Of Vehicle Individual Policies Mileage Reduction
NumberOfVehicleIndividualPoliciesMileageReduction
310000 vehicle
mcy Number Of Subsidiaries Company Controls
NumberOfSubsidiariesCompanyControls
14 Subsidiary
CY2021Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
11 State
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
940900000 USD
CY2020Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
899300000 USD
CY2021Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
697900000 USD
CY2020Q3 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
618700000 USD
CY2021Q3 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
233400000 USD
CY2020Q3 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
229100000 USD
CY2021Q3 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
9600000 USD
CY2020Q3 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
51500000 USD
CY2021Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
32300000 USD
CY2020Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
32100000 USD
CY2021Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-43500000 USD
CY2020Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
64400000 USD
CY2021Q3 us-gaap Other Income
OtherIncome
2500000 USD
CY2020Q3 us-gaap Other Income
OtherIncome
2900000 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
4300000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
4300000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3400000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
146600000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
1300000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
118900000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
2783700000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
2633800000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1981500000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1765600000 USD
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
685500000 USD
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
683100000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
116700000 USD
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
185100000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
95600000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
100800000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
57000000.0 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-28500000 USD
us-gaap Other Income
OtherIncome
7900000 USD
us-gaap Other Income
OtherIncome
6800000 USD
us-gaap Interest Expense
InterestExpense
12800000 USD
us-gaap Interest Expense
InterestExpense
12800000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
264400000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
251400000 USD
us-gaap Net Income Loss
NetIncomeLoss
217500000 USD
us-gaap Net Income Loss
NetIncomeLoss
207900000 USD
CY2021Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
940900000 USD
CY2020Q3 us-gaap Premiums Earned Net
PremiumsEarnedNet
899300000 USD
CY2021Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
1032100000 USD
CY2020Q3 us-gaap Direct Premiums Written
DirectPremiumsWritten
957000000.0 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
2783700000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
2633800000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
2958400000 USD
us-gaap Direct Premiums Written
DirectPremiumsWritten
2743700000 USD

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