Mercury General Corporation (MCY) is a property and casualty insurance company primarily focused on providing personal automobile insurance. Operating through 12 subsidiaries across 11 states, with a significant presence in California, the company sells insurance products to individuals and small businesses. Its offerings are distributed through independent agents, 100% owned insurance agents, and direct channels, supported by robust underwriting and claims handling processes.
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Property and Casualty Insurance - Offers a range of insurance products, including private passenger automobile, homeowners, commercial automobile, and commercial property insurance, primarily targeting individual and small business customers.
- Private Passenger Automobile Insurance - Focuses on insuring personal vehicles, which is the company's primary business.
- Homeowners Insurance - Provides coverage for residential properties.
- Commercial Automobile Insurance - Covers vehicles used for business purposes.
- Commercial Property Insurance - Insures commercial real estate and related assets.
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Other Business Segment - Includes automobile mechanical protection warranties sold through automobile dealerships and credit unions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Charles Toney Executive | Vice President and Chief Actuary | None | Charles Toney is the Chief Actuary at MCY, with no specific achievements detailed. | |
Christopher Graves Executive | Vice President and Chief Investment Officer | None | Christopher Graves has been with MCY since 1986, became Chief Investment Officer in 1998, and has over 35 years of experience in investments. | |
Erik Thompson Executive | Vice President and Chief Marketing Officer | None | Erik Thompson is the CMO at MCY, known for community engagement and marketing initiatives. | |
Gabriel Tirador Executive | Chief Executive Officer | None | Gabriel Tirador joined MCY in 1994, became CEO in 2007, and has over 30 years of experience in the insurance industry. | |
Heidi C. Sullivan Executive | Vice President and Chief Human Capital Officer | None | Heidi C. Sullivan joined MCY in 2012 and oversees human capital strategies. | |
Jeffrey M. Schroeder Executive | Vice President and Chief Product Officer | None | Jeffrey M. Schroeder joined MCY in 2010 and oversees product management and development. | |
Judy A. Walters Executive | Vice President, Corporate Affairs and Secretary | None | Judy A. Walters is the Corporate Affairs and Secretary at MCY, with no specific achievements detailed. | |
Katie Gibbs Executive | Vice President and Chief Experience Officer | None | Katie Gibbs joined MCY in 2022 and has a background in product development and corporate strategy. | |
Kelly Butler Executive | Vice President and Chief Underwriting Officer | None | Kelly Butler joined MCY in 2004, became Chief Underwriting Officer in 2022, and has expertise in underwriting and claims management. | |
Mark Ribisi Executive | President and CEO of AIS Management LLC | None | Mark Ribisi joined MCY in 2009 and has over 35 years of experience in the insurance industry. | |
Nick Colby Executive | Vice President and Chief Sales Officer | None | Nick Colby joined MCY in 2025 and has over 15 years of experience in sales and marketing. | |
Randall R. Petro Executive | Vice President and Chief Claims Officer | None | Randall R. Petro has been with MCY since 1987 and became Chief Claims Officer in 2015. | |
Simon Zhang Executive | Vice President and Chief Data & Analytics Officer | None | Simon Zhang joined MCY on or before December 4, 2023, as Chief Data & Analytics Officer. | |
Theodore R. Stalick Executive | Senior Vice President and Chief Financial Officer | None | Theodore R. Stalick joined MCY in 1997, became CFO in 2001, and has been instrumental in financial operations. | |
Wilson Pang Executive | Vice President and Chief Technology Officer | None | Wilson Pang joined MCY in 2023, has over 20 years of experience in technology, and focuses on cybersecurity and technology strategy. | |
George G. Braunegg Board | Director | Associate Professor at USC, Advisor and Investor at Terafina Inc. | George G. Braunegg has been a Director since 2018, with extensive experience in management consulting and academia. | |
George Joseph Board | Chairman of the Board of Directors | None | George Joseph has served as Chairman since 1961 and was CEO for 45 years. He has over 60 years of experience in the insurance industry. | |
James G. Ellis Board | Director | Board Member at Fixed Income Funds and Investment Company of America | James G. Ellis has been a Director since 2014, with a background in academia and corporate leadership. | |
Joshua E. Little Board | Director | President and CEO at Dentons Durham Jones Pinegar P.C. | Joshua E. Little has been a Director since 2017, with expertise in corporate governance and legal affairs. | |
Martha E. Marcon Board | Director | Board Member at Guild Holdings Company, Nonprofits Insurance Alliance | Martha E. Marcon has been a Director since 2008, with extensive experience in accounting and financial reporting. | |
Ramona L. Cappello Board | Director | Partner at CEO Coaching International, CEO of Sun Harvest Salt, LLC, Board Member at Felbro Food Products and Dominicks Foods | Ramona L. Cappello has been a Director since 2018, with extensive executive management experience. |
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Given the ongoing low interest rate environment leading to low investment returns, have you considered rethinking your dividend policy or stock repurchase plans to better align with the company's financial performance?
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With competitors like Lemonade leveraging advanced technology and data analytics, how does Mercury General plan to enhance its technological capabilities, and how does your agency-based model remain competitive in today's increasingly digital market?
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Catastrophe losses and unfavorable reserve development have negatively impacted your commercial auto and homeowners lines; what specific measures are you implementing to address these issues and improve profitability in these segments?
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As claims frequency increases towards pre-COVID levels and severity continues to rise, how do you plan to adjust your pricing and underwriting strategies to maintain profitability in this changing environment?
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Considering the regulatory constraints in California that limit your ability to adjust rates and pricing factors, how do these challenges affect your profitability goals, and what strategies are you employing to navigate these limitations?
Research analysts who have asked questions during MERCURY GENERAL earnings calls.
Recent press releases and 8-K filings for MCY.
- Mercury Insurance has submitted a rate filing for its California Homeowners program, aligning with the State's Sustainable Insurance Strategy.
- This filing is notable as it is the first to utilize the recently reviewed Verisk Wildfire catastrophe model, which is expected to enable the company to expand its presence in higher wildfire risk areas and offer more comprehensive coverage options beyond the California FAIR Plan.
- The proposed plan includes an overall average rate increase of 6.9 percent, reflecting increased inflationary costs and exposure to catastrophic events like wildfires.
- To offset potential increases for customers in higher-risk areas, Mercury is introducing discounts for homeowners who implement wildfire risk reduction measures and for those residing in fire-prepared communities.
- Mercury Insurance (MCY) is partnering with Liberty Mutual Insurance to provide coverage for thousands of California Safeco renters, condo, and select auto policies.
- This initiative stems from Liberty Mutual's decision to shift its California personal lines product strategy, with Liberty Mutual recommending its independent agents place impacted policies with Mercury.
- Mercury views this partnership as an opportunity to support California consumers and agents, having previously taken on Tokio Marine's personal lines business in the state.
- The company emphasizes its commitment to the California insurance market, continuing to write homeowners policies in areas where other insurers have reduced their presence.
- Mercury Insurance is preparing a homeowners insurance rate filing in California, utilizing the California Department of Insurance's (CDI) recently approved Verisk Wildfire Model.
- This action is a direct result of Commissioner Lara's Sustainable Insurance Strategy, which Mercury believes will provide California homeowners with more insurance options and lead to a more resilient insurance marketplace.
- The company anticipates this will unlock the ability to expand the areas where Mercury can offer homeowners insurance.
- In anticipation of this strategy, Mercury previously became the first insurance provider to begin writing new policies in Paradise, CA, a town decimated by a wildfire in 2018.
- Mercury General reported Q1 2025 net premiums earned of $1,283M (a 10% increase over Q1 2024) .
- The company recorded a net loss of ~$108M accompanied by an operating loss and a combined ratio of 119.2% .
- January 2025 Southern California wildfires severely impacted results with net catastrophe losses of approximately $331M, full utilization of reinsurance limits, and ongoing evaluations for a two‐event treatment .
- Increased net investment income of $81M was driven by improved yields from asset rebalancing .
- The Board declared a quarterly dividend of $0.3175 per share, scheduled for payment on June 26, 2025 .