X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

 The Mercury General Corporation (NYSE: MCY) reported today that its first-quarter net income was $66.46 million down 9.4 percent from $73.35 million a year ago during the same time. Mercury General attributes the drop to a $10 million pre-tax restructuring charge the it incurred as part of its efforts to consolidate its operations outside of California into regional hubs in Florida, New Jersey and Texas. The company expects annual savings of $12 million to come from this effort.

Dig Deeper

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.