Mercury Insurance 2013 Annual Report Download - page 42

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27
industry peer group over the last five years. The graph assumes that $100 was invested on December 31, 2008 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
2008 2009 2010 2011 2012 2013
Mercury General $ 100.00 $ 91.67 $ 106.21 $ 119.59 $ 110.22 $ 146.10
Industry Peer Group 100.00 105.30 126.71 125.95 148.98 198.15
S&P 500 Index 100.00 126.46 145.51 148.59 172.37 228.19
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, 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 26, 2013, and the authorization will expire in July 2014. 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.
Item 6. Selected Financial Data
The following selected financial and operating data are derived from the Company’s audited consolidated financial
statements. The selected financial and operating data should be read in conjunction with “Item 7. Management’s Discussion and
Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and notes thereto contained
elsewhere in this Annual Report on Form 10-K.