Mercury General Posts Earnings Decline
From Associated Press
Los Angeles-based Mercury General Corp. said its second-quarter profit fell 6%.
Mercury, which sells mostly personal auto and homeowners insurance, reported earnings of $73.6 million, or $1.35 a share, down from $78.1 million, or $1.43, a year earlier. Net premiums written over the quarter rose 13% to $730 million. Wall Street’s consensus was $1.26 a share, according to Thomson Financial.
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