2022 Q3 Form 10-Q Financial Statement

#000006499622000020 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $900.3M $785.6M $1.049B
YoY Change -3.42% -22.89% -2.08%
Cost Of Revenue $2.500M $2.800M
YoY Change -16.67% -12.5%
Gross Profit $897.8M $782.8M
YoY Change -3.38% -22.92%
Gross Profit Margin 99.72% 99.64%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $168.9M $156.5M $27.21M
YoY Change 10.32% 3.64% 21.46%
% of Gross Profit 18.81% 19.99%
Operating Expenses $1.025B $1.053B $1.010B
YoY Change 10.05% 19.74% 17.43%
Operating Profit -$127.1M -$269.9M
YoY Change 5913.72% -297.8%
Interest Expense $4.300M $4.300M -$4.268M
YoY Change 0.0% 2.38% -0.74%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$128.9M -$271.3M $34.87M
YoY Change 3691.18% -300.37% -83.17%
Income Tax -$30.60M -$60.66M $4.393M
% Of Pretax Income 12.6%
Net Earnings -$98.30M -$210.7M $30.47M
YoY Change -7661.54% -292.95% -81.72%
Net Earnings / Revenue -10.92% -26.82% 2.9%
Basic Earnings Per Share -$1.78 -$3.80
Diluted Earnings Per Share -$1.78 -$3.80 $550.3K
COMMON SHARES
Basic Shares Outstanding 55.37M shares 55.37M shares 55.37M shares
Diluted Shares Outstanding 55.37M shares 55.37M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $335.9M $290.0M $335.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $7.871M $7.358M $7.600M
YoY Change 8.45% -28.63% -28.97%
LONG-TERM ASSETS
Property, Plant & Equipment $189.8M $189.6M $191.3M
YoY Change 2.05% 4.19% 6.94%
Goodwill $42.80M $42.80M $42.80M
YoY Change 0.0% 0.0% 0.0%
Intangibles $9.455M $9.722M $10.26M
YoY Change -10.14% -9.89% -9.42%
Long-Term Investments $4.683B $4.834B $5.143B
YoY Change -7.72% -4.11% 8.74%
Other Assets $65.71M $39.07M
YoY Change 530.57% 6171.43%
Total Long-Term Assets $6.447B $6.492B $6.765B
YoY Change -4.45% -2.91% 7.08%
TOTAL ASSETS
Total Short-Term Assets $7.871M $7.358M $7.600M
Total Long-Term Assets $6.447B $6.492B $6.765B
Total Assets $6.455B $6.500B $6.772B
YoY Change -4.44% -2.95% 7.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $155.4M $165.9M $169.1M
YoY Change -14.66% -15.33% -13.0%
Accrued Expenses $26.37M $29.80M $34.58M
YoY Change -28.44% -25.27% -21.06%
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 $181.8M $195.7M $203.7M
YoY Change -16.98% -17.01% -18.06%
LONG-TERM LIABILITIES
Long-Term Debt $373.2M $373.1M $372.9M
YoY Change 0.11% 0.11% 0.12%
Other Long-Term Liabilities $285.0M $283.7M $255.8M
YoY Change -1.97% -3.83% 8.33%
Total Long-Term Liabilities $658.2M $656.8M $628.7M
YoY Change -0.8% -1.63% 3.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $181.8M $195.7M $203.7M
Total Long-Term Liabilities $658.2M $656.8M $628.7M
Total Liabilities $4.908B $4.837B $4.632B
YoY Change 6.48% 7.06% 7.83%
SHAREHOLDERS EQUITY
Retained Earnings $1.448B $1.563B $2.041B
YoY Change -29.25% -24.83% 5.57%
Common Stock $98.95M $98.95M $98.94M
YoY Change 0.04% 0.08% -0.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.546B $1.662B $2.140B
YoY Change
Total Liabilities & Shareholders Equity $6.455B $6.500B $6.772B
YoY Change -4.44% -2.95% 7.02%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$98.30M -$210.7M $30.47M
YoY Change -7661.54% -292.95% -81.72%
Depreciation, Depletion And Amortization $168.9M $156.5M $27.21M
YoY Change 10.32% 3.64% 21.46%
Cash From Operating Activities $89.96M $88.33M $73.56M
YoY Change -18.8% -38.12% -54.68%
INVESTING ACTIVITIES
Capital Expenditures -$8.517M -$8.799M -$11.94M
YoY Change -27.18% -11.14% 17.1%
Acquisitions
YoY Change
Other Investing Activities -$17.77M -$49.98M -$32.44M
YoY Change -82.35% -13.35% -64.04%
Cash From Investing Activities -$26.29M -$58.78M -$44.38M
YoY Change -76.61% -12.9% -55.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.79M -35.31M -35.22M
YoY Change -49.74% 0.83% -1.07%
NET CHANGE
Cash From Operating Activities 89.96M 88.33M 73.56M
Cash From Investing Activities -26.29M -58.78M -44.38M
Cash From Financing Activities -17.79M -35.31M -35.22M
Net Change In Cash 45.88M -5.762M -6.049M
YoY Change -223.98% -114.32% -123.0%
FREE CASH FLOW
Cash From Operating Activities $89.96M $88.33M $73.56M
Capital Expenditures -$8.517M -$8.799M -$11.94M
Free Cash Flow $98.48M $97.13M $85.50M
YoY Change -19.6% -36.37% -50.44%

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us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
45699000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
36842000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-437024000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
100496000 usd
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
17532000 usd
us-gaap Increase Decrease In Premiums Receivable
IncreaseDecreaseInPremiumsReceivable
26634000 usd
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-17293000 usd
us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
4217000 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
116992000 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-435000 usd
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
15274000 usd
us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
3829000 usd
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
160392000 usd
us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
99711000 usd
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
78141000 usd
us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
65251000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1756000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
375000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
15000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
70000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
15495000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
33557000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
194906000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
317241000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
777936000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
574598000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
365827000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
86022000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
266801000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
225650000 usd
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
484172000 usd
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
434406000 usd
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
504912000 usd
us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
466292000 usd
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-2694000 usd
us-gaap Increase Decrease In Broker Dealer Related Receivables Payables Net
IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet
-32107000 usd
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
32711000 usd
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
1126000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
17072000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
17802000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2454000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-973000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-169203000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-216888000 usd
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
70321000 usd
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
70044000 usd
CY2021Q2 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
215000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
937000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
388000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-71258000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-70217000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-45555000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
30136000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
335557000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
348479000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
290002000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
378615000 usd
us-gaap Interest Paid Net
InterestPaidNet
8325000 usd
us-gaap Interest Paid Net
InterestPaidNet
8303000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
175000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5000000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
51209000 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, 2021
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.6350
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.6325
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.2700
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.2650
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2800000 usd
CY2022Q2 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
156500000 usd
CY2021Q2 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
151000000 usd
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
318600000 usd
us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
315400000 usd
CY2022Q2 us-gaap Advertising Expense
AdvertisingExpense
3800000 usd
CY2021Q2 us-gaap Advertising Expense
AdvertisingExpense
11600000 usd
us-gaap Advertising Expense
AdvertisingExpense
7800000 usd
us-gaap Advertising Expense
AdvertisingExpense
21400000 usd
CY2022Q2 us-gaap Reinsurance Recoverables Gross
ReinsuranceRecoverablesGross
25000000 usd
us-gaap Reinsurance Retention Policy Reinsured Risk Percentage
ReinsuranceRetentionPolicyReinsuredRiskPercentage
0.735
CY2022Q2 us-gaap Ceded Premiums Earned
CededPremiumsEarned
17000000 usd
CY2021Q2 us-gaap Ceded Premiums Earned
CededPremiumsEarned
16000000 usd
us-gaap Ceded Premiums Earned
CededPremiumsEarned
35000000 usd
us-gaap Ceded Premiums Earned
CededPremiumsEarned
31000000 usd
CY2022Q2 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
6000000 usd
CY2021Q2 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
13000000 usd
us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
3000000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4600000 usd
CY2021Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
3200000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9000000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
11300000 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5600000 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
6900000 usd
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0 usd
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 usd
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 usd
CY2021Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
147000 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
310000 usd
us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
303000 usd
CY2022Q1 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 usd
CY2021Q1 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
7000000 usd
CY2021Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 usd
CY2020Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
10000000 usd
CY2022Q2 us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-1007000 usd
CY2021Q2 us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
390000 usd
us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
-2177000 usd
us-gaap Premium Receivable Credit Loss Expense Reversal
PremiumReceivableCreditLossExpenseReversal
2532000 usd
CY2022Q2 mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
1168000 usd
CY2021Q2 mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
757000 usd
mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
2487000 usd
mcy Premium Receivable Allowancefor Credit Loss Writeoff
PremiumReceivableAllowanceforCreditLossWriteoff
1771000 usd
CY2022Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts Recoveries
PremiumsReceivableAllowanceForDoubtfulAccountsRecoveries
161000 usd
CY2022Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 usd
CY2021Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 usd
CY2022Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 usd
CY2021Q2 us-gaap Premiums Receivable Allowance For Doubtful Accounts
PremiumsReceivableAllowanceForDoubtfulAccounts
6000000 usd
CY2022Q2 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 usd
mcy Fair Value Assets Level1 To Level2 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel2ToLevel3TransfersAmount
0 usd
CY2022Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-224309000 usd
CY2021Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
44795000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-422556000 usd
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
71314000 usd
mcy Percentage Of Unadjusted Fair Value Obtained
PercentageOfUnadjustedFairValueObtained
0.981
CY2022Q2 mcy Three Private Equity Funds Using Nav
ThreePrivateEquityFundsUsingNAV
89300000 usd
CY2022Q2 mcy One Private Equity Fund Using Nav
OnePrivateEquityFundUsingNAV
600000 usd
mcy Fair Value Assets Level1 To Level2 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel2ToLevel3TransfersAmount
0 usd
CY2022Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
75962000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
66240000 usd
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
9722000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
75962000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
65707000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
10255000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
510000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
879000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
851000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
807000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
807000 usd
CY2022Q2 mcy Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
4468000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8322000 usd
CY2018Q1 mcy Numberof Executives
NumberofExecutives
4 executive
CY2022Q2 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
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
51359000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-15409000 usd
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%">Six Months Ended June 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%">2022</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%">2021</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%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,226,430 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</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%">1,991,304 </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%">(41,377)</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%">(54,460)</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: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</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%">2,185,053 </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%">1,936,844 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></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%">1,597,354 </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%">1,298,981 </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%">51,359 </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%">(15,409)</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%">1,648,713 </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%">1,283,572 </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%">738,472 </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%">641,726 </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%">735,058 </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%">539,871 </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%">1,473,530 </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%">1,181,597 </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%">2,360,236 </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%">2,038,819 </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%">26,586 </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%">52,196 </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%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,386,822 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$</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%">2,091,015 </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>
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2226430000 usd
CY2020Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
1991304000 usd
CY2021Q4 mcy Reissuance Recoverable
ReissuanceRecoverable
41377000 usd
CY2020Q4 mcy Reissuance Recoverable
ReissuanceRecoverable
54460000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
2185053000 usd
CY2020Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
1936844000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1597354000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
1298981000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1648713000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
1283572000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
738472000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
641726000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
735058000 usd
us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
539871000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
1473530000 usd
us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
1181597000 usd
CY2022Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
2360236000 usd
CY2021Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
2038819000 usd
CY2022Q2 mcy Reissuance Recoverable
ReissuanceRecoverable
26586000 usd
CY2021Q2 mcy Reissuance Recoverable
ReissuanceRecoverable
52196000 usd
CY2022Q2 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2386822000 usd
CY2021Q2 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
2091015000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
51400000 usd
us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-15400000 usd
CY2022Q2 mcy Notes Payable Principal
NotesPayablePrincipal
375000000 usd
CY2021Q4 mcy Notes Payable Principal
NotesPayablePrincipal
375000000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1870000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2069000 usd
CY2022Q2 us-gaap Notes Payable
NotesPayable
373130000 usd
CY2021Q4 us-gaap Notes Payable
NotesPayable
372931000 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
CY2022Q2 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
0.184
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
200000 usd
us-gaap Increase Decrease In Unearned Premiums Net
IncreaseDecreaseInUnearnedPremiumsNet
128000000 usd
mcy Number Of Subsidiaries Company Controls
NumberOfSubsidiariesCompanyControls
13 subsidiary
CY2022Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
11 state
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
987500000 usd
CY2021Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
926800000 usd
CY2022Q2 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
826800000 usd
CY2021Q2 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
657200000 usd
CY2022Q2 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
225900000 usd
CY2021Q2 us-gaap Other Underwriting Expense
OtherUnderwritingExpense
222000000.0 usd
CY2022Q2 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
-65200000 usd
CY2021Q2 us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
47600000 usd
CY2022Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
38600000 usd
CY2021Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
31000000.0 usd
CY2022Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-241900000 usd
CY2021Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
58800000 usd
CY2022Q2 us-gaap Other Income
OtherIncome
1500000 usd
CY2021Q2 us-gaap Other Income
OtherIncome
2200000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
4300000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
4200000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-271300000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
135400000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-210700000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
109200000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
1950100000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
1842700000 usd
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1648700000 usd
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
1283600000 usd
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
458400000 usd
us-gaap Other Underwriting Expense
OtherUnderwritingExpense
451800000 usd
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
-157000000.0 usd
us-gaap Underwriting Income Loss
UnderwritingIncomeLoss
107300000 usd
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
73900000 usd
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
63200000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-437000000.0 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
100500000 usd
us-gaap Other Income
OtherIncome
4100000 usd
us-gaap Other Income
OtherIncome
5400000 usd
us-gaap Interest Expense
InterestExpense
8500000 usd
us-gaap Interest Expense
InterestExpense
8600000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-524500000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
267800000 usd
us-gaap Net Income Loss
NetIncomeLoss
-407600000 usd
us-gaap Net Income Loss
NetIncomeLoss
216200000 usd
CY2022Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
987500000 usd
CY2021Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
926800000 usd
CY2022Q2 us-gaap Direct Premiums Written
DirectPremiumsWritten
1034100000 usd
CY2021Q2 us-gaap Direct Premiums Written
DirectPremiumsWritten
972900000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
1950100000 usd
us-gaap Premiums Earned Net
PremiumsEarnedNet
1842700000 usd
us-gaap Direct Premiums Written
DirectPremiumsWritten
2052300000 usd
us-gaap Direct Premiums Written
DirectPremiumsWritten
1926300000 usd

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