Mercury General Corporation

“SCE has disclosed that it is probable that SCE will incur material losses from the Eaton fire and entered into a negotiated agreement without litigation with one insurance company to pay 52% of the losses incurred.”

Mercury is pursuing subrogation against Southern California Edison (Edison International) over the Eaton fire; SCE has acknowledged probable material losses, a negative read-through for Edison's wildfire liability.

“The Company is actively pursuing subrogation against Southern California Edison on the Eaton fire. The Company recorded approximately $527 million in estimated subrogation recoveries, or approximately 55% of its estimated ultimate losses on the Eaton fire. SCE has not admitted that its equipment caused the Eaton fire, but significant evidence indicates that SCE's equipment was the cause. SCE has disclosed that it is probable that SCE will incur material losses from the Eaton fire and entered into a negotiated agreement without litigation with one insurance company to pay 52% of the losses incurred.”

Mercury is pursuing subrogation against Southern California Edison (a subsidiary of Edison International) over the Eaton fire, and states it is probable SCE will incur material losses and has agreed to pay 52% of losses to one insurer, a negative read-through for EIX's wildfire liability.

“The Company is actively pursuing subrogation against Southern California Edison on the Eaton fire. The Company recorded approximately $528 million in estimated subrogation recoveries, or approximately 55% of its estimated ultimate losses on the Eaton fire.”

Mercury General is pursuing subrogation recoveries from Southern California Edison (Edison International), alleging SCE's equipment caused the Eaton wildfire, implying material liability exposure for the utility.

“The Company is actively pursuing subrogation against Southern California Edison on the Eaton fire. The Company recorded approximately $525 million in estimated subrogation recoveries, or approximately 55% of its estimated ultimate losses on the Eaton fire, as an offset against loss and loss adjustment expense reserves.”

Mercury General is pursuing a ~$525M subrogation claim against Edison International's utility subsidiary SCE, alleging its equipment caused the Eaton wildfire — a liability exposure for Edison tied to the January 2025 California wildfires.

“you're you're averaging thirteen hundred and seventy versus Farmers, fourteen hundred and forty-five. And they have one third the PIFs Palisades.”

Mercury's CEO compares its average wildfire claim payout to Farmers' in the Palisades fire, noting Farmers has roughly a third of the policies-in-force in that area.