Mercury General Corporation continued its hot streak for the third quarter of 2025, reporting net premiums earned of $1.41 billion, a 6.8% increase compared to $1.32 billion in the same period last year.
Net premiums written for the quarter reached $1.50 billion, up 5.3% from $1.42 billion in the prior year.
For the first nine months of 2025, net premiums earned totaled $4.06 billion, a 9.0% rise from $3.72 billion in the same period of 2024. Net premiums written for the nine-month period were $4.29 billion, up 5.7% year over year.
Net realized investment gains, net of tax, were $66.7 million for the third quarter, down from $90.4 million in the third quarter of 2024. For the first nine months, net realized investment gains were $103.7 million, a decrease from $122.9 million in the comparable period last year.
Net income for the third quarter was $280.4 million, an increase of 21.5% from $230.9 million in the prior-year quarter. For the first nine months of 2025, net income was $338.5 million, down 7.7% from $366.9 million for the same period last year.
Previously, Mercury reported a notable rebound in profitability as the company continued to recover from the impact of major wildfire events earlier in the year. For the three months ended June 30, net premiums earned reached $1.37 billion, up 10.6% from the same period in 2024, while net premiums written grew 9.2% year over year to $1.48 billion.
Operating income for the third quarter was $213.7 million, a 52.2% increase from $140.4 million a year earlier. For the nine-month period, operating income was $234.9 million, compared to $244.0 million in the prior year.
Catastrophe losses net of reinsurance for the third quarter were $29 million, down from $39 million in the same period last year. For the first nine months, catastrophe losses net of reinsurance totaled $489 million, an increase from $236 million in the prior year.
The combined ratio for the third quarter improved to 87.0% from 93.6% in the prior-year quarter. For the first nine months of 2025, the combined ratio was 99.0%, up from 97.6% in the same period last year.
