About Mercury General

Mercury General Corporation and its subsidiaries primarily engage in writing personal automobile insurance through 12 insurance subsidiaries (referred to collectively as the ‘Insurance Companies’) in 11 states, principally California. The company also writes homeowners, commercial automobile, commercial property, mechanical protection, and umbrella insurance. The company's insurance policies are mostly sold through independent agents who receive a commission for selling policies. The company offers the following types of automobile coverage: collision, property damage, bodily injury (BI), comprehensive, personal injury protection (PIP), underinsured and uninsured motorist, and other hazards. The company offers various types of homeowners coverage, such a dwelling, liability, personal property, and other coverages. Production and Servicing of Business The company sells its policies through a network of approximately 6,390 independent agents, its 100% owned insurance agencies, AIS and PoliSeek, and directly through internet sales portals. Approximately 1,630, 1,030, and 1,110 of the independent agents are located in California, Florida, and Texas, respectively. The independent agents and agencies are independent contractors selected and contracted by the company and generally also represent competing insurance companies. Certain of these independent agencies are under the common ownership of a parent company; however, they each operate autonomously with their own contractual agreements with the company and hence are accounted for as separate independent agencies. Excluding AIS and PoliSeek, independent agents and agencies collectively accounted for approximately 89% of the company's direct premiums written in 2023. AIS and PoliSeek represented the company as independent agencies prior to their acquisition in 2009, and continue to act as independent agencies selling policies for a number of other insurance companies. Policies sold directly through the internet sales portals are assigned to and serviced by the company's agents and agencies, including AIS and PoliSeek. Underwriting The company sets its own automobile insurance premium rates, subject to rating regulations issued by the Department of Insurance or similar governmental agency of each state in which it is licensed to operate (DOI). The company offers standard, non-standard, and preferred private passenger automobile insurance in 11 states. The company also offers homeowners insurance in 10 states, commercial automobile insurance in 4 states, and mechanical protection insurance in most states. Regulation The DOI in each state in which the company operates is responsible for conducting periodic financial and market conduct examinations of the Insurance Companies in their states. History Mercury General Corporation was founded in 1961.