See the latest Mercury insurance ratings and what they mean for US brokers. Find out how this insurer can help you grow your business
Mercury Insurance is a California-based auto and home insurance provider and one of the state’s leading personal lines insurers. It has operations in nearly a dozen states and employs more than 6,300 independent agents. If you’re wondering whether this is a good insurer to recommend to your clients, you’ve come to the right place.
In this article, we’re focusing on Mercury Insurance ratings and its other key performance indicators. This is to help you and your clients make informed decisions on whether the insurer and its products are a good fit for their needs.
Mercury Insurance ratings: Financial strength
To know whether Mercury Insurance is a strong enough carrier to merit your attention and your clients’ business, it’s important to look at their financial strength ratings (FSR). This metric is a vital indicator whether they are solvent and financially capable of honoring your client’s claims.
The outlook for the financial future of Mercury Insurance is another metric worth looking at, since this indicates whether the company has long-term financial stability. So, what kind of rating does Mercury Insurance have and what is its future financial outlook? For answers, we turn to the four most reputable and popular insurance ratings agencies:
- A&M Best
- Fitch
- Moody’s
- S&P
These are the latest Mercury Insurance ratings for financial strength from each agency:
A.M. Best FSR: “A” or Excellent
Mercury Insurance’s rating from A.M. Best is at “A” or “Excellent”, which is the third highest ranking possible from the ratings agency. This FSR is considered an indicator of a company with strong financial health and claims-paying ability. In a recent press release, A.M. Best affirmed its rating of the insurer and its subsidiaries.
The “A” FSR means good news for brokers and their clients, since Mercury Insurance is seen as a financially stable and potentially reliable partner for policyholders.
Fitch FSR: “A-” or Strong
As for Fitch, this ratings agency gave an “A-” ranking for Mercury Insurance. Fitch’s assessment is that the insurer has a strong capacity to meet its policyholder and contractual obligations. The “A-” rating is considered a “strong” rating at Fitch’s standards and indicates that Mercury Insurance’s core subsidiaries are viewed as financially stable and able to pay claims, despite adverse economic conditions.
Outlook: negative
Fitch’s outlook for Mercury Insurance is also negative. Previously, the agency rated it as “stable.” Their outlook was revised likewise due to the significant losses the insurance company suffered…