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Friday, July 10, 2020
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George Joseph
Mercury General Corp.
Chairman
THE LATEST: Mercury and its subsidiaries offer predominantly personal, automobile and homeowners insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. The company posted $320 million in net income on $3.6 billion in premiums in 2019, compared to a loss of $5.7 million in 2018. Joseph landed at No. 36 on Business Journal&s Wealthiest Angelenos list in 2019.
BACKGROUND: Joseph, 98, founded the property and casualty insurer in 1961 and remains Mercury's largest shareholder with 34% of the shares. Joseph navigated a B-17 bomber during World War II before earning math and physics degrees from Harvard University. Favored philanthropic causes for Joseph and his wife, Vicky, include USC, Harvard, Cal State Fullerton, Cedars-Sinai Medical Center and Good Samaritan Hospital.
YEARS ON THE LA500: 3
Return to the 2020 edition of the LA500.
