Mercury General Corp.: The Los Angeles-based automobile...
From Times Staff and Wire Reports
Mercury General Corp.: The Los Angeles-based automobile insurer said 1989 net income rose 14% to $33.9 million. The 1989 results reflect a $15-million provision representing management’s estimate of the maximum potential impact of refund liability under the rate rollback mandated by Proposition 103. The after-tax impact of the provision was $10 million. Premiums earned in 1989 were $472.4 million, up 14.6% from 1988.
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