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Latest MCY News From Around the Web
Below are the latest news stories about MERCURY GENERAL CORP that investors may wish to consider to help them evaluate MCY as an investment opportunity.
Mercury General Assesses Impact of California WildfiresMercury General ( (MCY) ) has issued an announcement. Mercury General Corporation has released its preliminary assessment of the recent wildfires in Southern California, which have caused extensive damage since January 7, 2025. The company expects losses from the wildfires to exceed its reinsurance retention level of $150 million, with a reinsurance program that provides $1,290 million in limits per occurrence. Mercury’s claims adjusters are actively assisting customers, and further guidance on |
Why MCY Stock Is Crashing 20% TodayCalifornia-based property and casualty insurer Mercury General (MCY) is tumbling 20% today after the insurer warned that its losses from California’s wildfires would “exceed its reinsurance retention level of $150 million.” However, the company’s reinsurer is obligated to pay for $1.29 billion of losses for each natural disaster “after covered catastrophe losses exceed the Company’s […] |
Allstate Stock, Other Insurers Fall as Firefighters Begin Containing L.A. Fires. Record Losses Are Expected.Shares in Mercury, a publicly-owned insurer highly exposed to California, crashed ahead of Friday's opening bell. |
Top Midday Stories: Mercury General Expects Losses From SoCal Wildfires to Exceed $150 Million; Constellation Brands Fiscal Q3 Misses Views; Warner Bros, Disney, Fox Shelf Sport Streaming ServiceAll three major US stock indexes were down around midday Friday as traders assessed the stronger-tha |
Wildfire Fallout: Mercury General's Stock Crashes 20% Amid Record-Breaking $20B Insurance LossesAs climate disasters surge, insurers face mounting risks--here's why investors should pay attention now |
California fires spark insurance crisis, projected losses of $150BFive wildfires are still burning in Southern California, spreading to nearly 30,000 acres and destroying over 10,000 homes and businesses. While losses from the fires are expected to reach $150 billion, according to AccuWeather, these events are presenting a serious challenge for the insurance industry, particularly homeowners insurance in the region. CFRA Equity Research Vice President Cathy Seifert joins Morning Brief to uncover the impact this natural disaster event could pose for the broader insurance industry; major insurance stocks like Allstate (ALL), the Travelers Companies (TRV), Chubb (CB), Mercury (MCY), and American International Group (AIG) have been falling amid the increasing severity of the fires. “The insurance industry does have the capacity to address these claims. Th... |
Mercury General Stock Falls 18% Following Wildfire Loss DisclosureMercury reports wildfire damage in Southern California, with losses expected to surpass $150 million. |
Mercury General Stock Craters. Why the Insurer Is Bearing the Brunt of the L.A. Fires.Almost 80% of the insurer's premiums of $4.6 billion last year came from California, leaving it highly exposed to the blaze. |
Mercury General Corporation Provides Preliminary Information Regarding Recent Wildfires in Southern CaliforniaMercury General Corporation (the "Company," "Mercury" or "We") announced today its preliminary assessment of the impact of the recent wildfires in Southern California. |
Berkshire Hathaway’s Losses From L.A. Fires Should Be Small. Which Insurers Are More Exposed.Berkshire it isn’t a major homeowners insurer in California. It’s is a sizable auto insurer in the state through its Geico unit but auto insurers aren’t expected to suffer substantial losses. |