Mercury General says Q2 premiums written growth highest since growth cycle began

theflyonthewall.com

The company said premiums written increased 2.7% in Q2, the highest growth rate seen since it started growing in 2011. Company said its revenue neutral California rating plan implemented in December of 2011 caused dislocation to some existing customers but improved competitive position for new business. Mercury said the rate dislocation caused renewal rates to decrease but at a rate lower than it had expected.

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