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Mercury General Corporation (
Q4 2011 Earnings Call
February 6, 2012, 1:00 p.m. ET
Gabriel Tirador - President, CEO & Director
George Joseph - Chairman
Chris Graves - VP & CIO
Ted Stalick - VP, CFO
Robert Houlihan - VP & CPO
John Sutton – SVP Customer Service
Meyer Shields - Stifel Nicolaus
Alison Jacobowitz - Bank of America/Merrill Lynch
Matt Warman – KBW
Good afternoon. My name is Misty, and I will be your conference operator today. At this time, I would like to welcome everyone to Mercury General quarterly conference call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions).
Thank you. I would now like to turn the conference over to Mr. Gabriel Tirador.
Thank you very much. I would like to welcome everyone to Mercury's fourth quarter conference call. I am Gabe Tirador, President and CEO. In the room with me is Mr. George Joseph, Chairman; Ted Stalick, Vice President and CFO; Robert Houlihan, Vice President and Chief Product Officer; John Sutton, Senior Vice President, Customer Service; and Chris Graves, Vice President and Chief Investment Officer.
Before we take questions, we will make a few comments regarding the quarter. The fourth quarter 2011 operating results improved significantly as compared to the fourth quarter of 2010. Our combined ratio was 99.4% in the fourth quarter of 2011, compared to 109.9% in the fourth quarter of 2010.