Mercury Insurance 2009 Annual Report Download - page 123

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders
Mercury General Corporation:
Under date of February 18, 2010, we reported on the consolidated balance sheets of Mercury General
Corporation and subsidiaries (the Company) as of December 31, 2009 and 2008, and the related consolidated
statements of operations, comprehensive income (loss), shareholders’ equity, and cash flows for each of the years
in the three-year period ended December 31, 2009, as contained in the annual report on Form 10-K for the
year 2009. In connection with our audits of the aforementioned consolidated financial statements, we also
audited the related financial statement schedules as listed under Item 15(a)2. These financial statement schedules
are the responsibility of the Company’s management. Our responsibility is to express an opinion on these
financial statement schedules based on our audits.
In our opinion, such financial statement schedules, when considered in relation to the basic consolidated
financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
As discussed in note 1 to the consolidated financial statements, the Company has changed its method of
recording changes in the fair value of investment securities due to the adoption of Statement of Financial
Accounting Standards No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities,” as of
January 1, 2008.
/s/ KPMG LLP
Los Angeles, California
February 18, 2010
S-1