Mercury General
-
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1. -
The insurer has not decided whether to sell its Eaton subrogation rights.
-
The ratings agency has revised Mercury’s outlook from stable to negative.
-
The company will ‘aggressively pursue subrogation’ for the Eaton Fire.
-
The LA-based carrier said it did not expect the event to result in credit defaults.
-
The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
-
Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
-
The company’s stock price has plummeted in the wake of the LA wildfires.
-
Insurance Insider US runs you through the earnings results for the day.
-
Sources said that TMA ran a profitable book in California that included personal auto and homeowners’ policies.
-
The executive will continue reporting directly to Mercury General CEO Gabriel Tirador.
-
The Inside P&C news team runs you through the earnings results for the day.
Related
-
Need to Know: Q2 broker recap, Q2 earnings, PCF
August 02, 2023 -
Mercury General stock price falls 13% on Q4 results
February 15, 2023