Mercury General has posted a net income of $17.8m, $0.32 per diluted share, in in the second quarter 2010, compared to $114.4m, or $2.07 per diluted share, for the same period in 2009.
Total revenues for the second quarter of 2010 were $653.6m, a decrease of 17.8% compared to $795.9m for the same quarter in 2009.
Net premiums written were $631.1m in the second quarter of 2010, a 1% decrease compared to the second quarter 2009 net premiums written of $637.4m.
Operating income was $35.8m, or $0.65 per diluted share, for the second quarter of 2010 compared with $47.3m, or $0.86 per diluted share, for the same period in 2009.
For the first six months of 2010, net income was $79m, or $1.44 per diluted share, compared to $211.1m, or $3.83 per diluted share, for the same period in 2009.
Total revenues in the first half of 2010 declined to $1.35bn from $1.58bn in the same half of 2009. For the first six months of 2010, operating income was $82.7m, or $1.51 per diluted share, compared with operating income of $93.3m,or $1.69 per diluted share, for the same period in 2009.