Dan David's questions to Mercury General Corp (MCY) leadership • Q4 2024
Question
Dan David of Wolfpack Research challenged management on why Mercury's average loss appears to be significantly lower than peers and accused the company of underestimating its total losses, suggesting they may be improperly netting out potential subrogation recoveries from their gross estimates.
Answer
CEO Gabriel Tirador and another executive responded defensively to the confrontational questions. They questioned the premise of the peer comparison and denied underestimating losses or improperly accounting for subrogation, stating they had already explained their process. The call was abruptly concluded by the operator before the discussion could be resolved.