Mercury Insurance 2012 Annual Report Download - page 48

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27
industry peer group over the last five years. The graph assumes that $100 was invested on December 31, 2007 in each of the
Company’s Common Stock, the S&P 500 Index and the industry peer group and the reinvestment of all dividends.
Comparative Five-Year Cumulative Total Returns
Stock Price Plus Reinvested Dividends
2007 2008 2009 2010 2011 2012
Mercury General $ 100.00 $ 96.96 $ 88.89 $ 102.98 $ 115.95 $ 106.87
Industry Peer Group 100.00 71.95 75.77 91.18 90.50 107.04
S&P 500 Index 100.00 62.99 79.65 91.64 93.57 108.55
The industry peer group consists of Ace Limited, Alleghany Corporation, Allstate Corporation, American Financial Group,
Berkshire Hathaway, Chubb Corporation, Cincinnati Financial Corporation, CNA Financial Corporation, Erie Indemnity Company,
Hanover Insurance Group, HCC Insurance Holdings, Markel Corporation, Old Republic International, PMI Group, Inc.,
Progressive Corporation, RLI Corporation, Selective Insurance Group, Travelers Companies, Inc., W.R. Berkley Corporation and
XL Capital, Ltd.
Recent Sales of Unregistered Securities
None.
Share Repurchases
The Company has had a stock repurchase program since 1998. The Company’s Board of Directors authorized a $200 million
stock repurchase on July 27, 2012, and the authorization will expire in July 2013. The Company may repurchase shares of its
common stock under the program in open market transactions at the discretion of management. The Company will use dividends
received from the Insurance Companies to fund the share repurchases. Since the inception of the program, the Company has
purchased and retired 1,266,100 shares of common stock at an average price of $31.36. No stock has been purchased since 2000.