Mercury General (MCY) 10-Q2020 Q2 Quarterly report

Filed: 4 Aug 20, 12:46pm

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New words: affiliated, Arizona, assistance, bacteria, bank, bankrupt, bankruptcy, cease, confirmed, created, deposit, Electric, exclusion, extension, extreme, Giveback, governor, gradual, interruption, low, misclassified, modest, Nevada, overstated, Pacific, physical, program, put, reimburse, reimbursed, Reorganization, repurchase, road, suffered, suspension, territorial, top, voluntarily, water

Removed: Intermediate, refund, slightly

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Exhibit 15.1

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholders

Mercury General Corporation:

Results of Review of Interim Financial Information

We have reviewed the consolidated balance sheet of Mercury General Corporation and subsidiaries (the Company) as of June 30, 2020, the related consolidated statements of operations and shareholders' equity for the three-month and six-month periods ended June 30, 2020 and 2019, the related consolidated statements of cash flows for the six-month periods ended June 30, 2020 and 2019, and the related notes (collectively, the consolidated interim financial information). Based on our reviews, we are not aware of any material modifications that should be made to the consolidated interim financial information for it to be in conformity with U.S. generally accepted accounting principles.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2019, and the related consolidated statements of operations, shareholders’ equity, and cash flows for the year then ended (not presented herein); and in our report dated February 12, 2020, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet as of December 31, 2019, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.

Basis for Review Results

This consolidated interim financial information is the responsibility of the Company’s management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our reviews in accordance with the standards of the PCAOB. A review of consolidated interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.



/S/ KPMG LLP

Los Angeles, California

August 4, 2020

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