February 15, 2010 |
For more than two decades, Mercury General Corp. Chairman George Joseph has been sparring with consumer advocate Harvey Rosenfield over California's landmark automobile insurance law, Proposition 103. They've battled in the courts, the Legislature and the media over complex regulatory questions that affect billions of dollars in premiums paid by the state's 23.7 million licensed drivers. Now they're squaring off over a Mercury Insurance-sponsored initiative on the June ballot.
September 4, 2009 |
It was big. It was bright. It was controversial. And now it's gone. On Thursday, CBS Outdoor Inc. took down a billboard graphic -- black text on a screaming yellow background -- reading: "Consumer Watchdog says: 'You Can't Trust Mercury Insurance.' " The towering Mid-Wilshire billboard was in a prime spot for attracting attention, at least from Mercury Insurance's parent company, Mercury General Corp. It sat about half a mile east of corporate headquarters. Consumer Watchdog's billboard was taken down because Mercury, California's third-largest auto insurer and ninth-largest homeowners insurer, complained to CBS Outdoor, said Harvey Rosenfield, founder of Consumer Watchdog.
June 11, 2008 |
Mercury General Corp., a Los Angeles-based low-cost insurer, today is expected to announce rate cuts for about 1.7 million of its automobile and homeowner insurance customers, mainly in Southern California. Most of the cuts will go to automobile policyholders and, perhaps, offset at least a little pain from weekly hikes in gasoline prices. The owners of 1.5 million cars will shave 3% off their annual bills, about $30 per vehicle, according to the California Department of Insurance.
May 6, 2008 |
Mercury General Corp., which primarily provides homeowners and auto insurance, said it swung to a loss for the first quarter because of nearly $60 million in losses on investments and a decline in written premiums. Los Angeles-based Mercury lost $4 million, or 7 cents a share, compared with a profit of $60.5 million, or $1.11 a share, last year. Analysts polled by Thomson Financial forecast earnings of $1.01 a share. Mercury attributed the loss to $59.9 million in losses tied to investments.
November 7, 2006 |
Mercury General Corp. said Monday that founder George Joseph would step down as chief executive of the Los Angeles-based insurance company, handing the reins over to 41-year-old President and Chief Operating Officer Gabriel Tirador. "At 85, I thought it was time for a younger person to take the baton," Joseph said in an interview. Joseph, who founded the company in 1962, will continue to serve as chairman.
August 2, 2005 |
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.