Thursday, November 11, 2010
The Mercury Insurance Group provides automobile and property insurance, and it was founded by George Joseph in 1961. The headquarters is in Los Angeles, CA. Joseph's model was to insure low risk drivers and have a small group of risk that would then result in lower premiums for the entire group. The strategy was to have very tight underwriting so that the risk could be accurately assessed.
Mercury's revenue was $3.09 billion USD in 2006, and it currently employs 5100 people. The company is publicly traded on NYSE under ticker MCY.
To get an auto insurance quote from Mercury, go here: http://www.mercuryinsurance.com/