Mercury General Corp. (Mercury Insurance Group) Jobs and Profile

Mercury General (NYSE-MCY) is the leading independent agency writer of automobile insurance in California and has been one of the fastest growing automobile insurers in the nation. It is ranked as the sixth largest among all insurers in California, both direct writers and agency companies, with an estimated 1999 market share of over 7%. Mercury had 775,000 California private passenger automobile policies in-force on December 31, 1999. Automobile insurance is also written in Florida, Georgia, Texas, Illinois and Oklahoma. In addition to automobile insurance, Mercury writes other lines of insurance including mechanical breakdown and homeowners insurance.

From its formation in 1961, Mercury has concentrated on building and improving the foundation on which long-term shareholder value is created. First and foremost is the careful underwriting, strict cost control and efficient claims management which support affordable, competitive automobile insurance rates. Highly motivated managers and employees working with the Company's independent agents, its front-line underwriting partners, make the Mercury system work.

Mercury's premium growth has been accompanied by consistent, above-industry average profitability as measured by both underwriting results and return on shareholders' equity (ROE). Over the last five years, the combined ratio of underwriting results has averaged 90.5% and ROE 18.6%. The annual dividend rate was increased 14.3% to $0.96 in the first quarter of 2000. Dividends have been increased at least once each year since 1986, with the compound growth rate exceeding 20%.