Mercury General Corp.: The Los Angeles-based insurer...
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From Times Staff and Wire Reports
Mercury General Corp.: The Los Angeles-based insurer reported first-quarter net income of $7.9 million, down 24% from the same period of last year. Premiums earned in the first quarter totaled $118.4 million, up 6% from first-quarter 1988. Results are net of a provision representing the firm’s estimate of the potential impact of premium refund liability under the rate rollback mandated by the 1988 California insurance initiative, Proposition 103.
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