Mercury General Corporation's stock is experiencing a decline today, primarily due to the financial impact of the recent Southern California wildfires, known as the Palisades and Eaton fires. The company has already paid $80 million to policyholders for living expenses and housing contents, with further claims expected. Mercury is still evaluating whether to treat the wildfires as two separate events under
Mercury General Corporation's stock is experiencing a significant decline today, driven by the ongoing wildfires in Southern California. The company announced a preliminary assessment indicating that the losses from these wildfires, which began on January 7, 2025, are expected to exceed its reinsurance retention level of $150 million. This has raised concerns among investors about the financial impact on th