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    <link:label id="lab_mcy_LitigationSettlementRefundReceivable_7BE566229F083B2FB7F5AB787E9C2AE6_label_en-US" xlink:label="lab_mcy_LitigationSettlementRefundReceivable_7BE566229F083B2FB7F5AB787E9C2AE6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Litigation Settlement, Refund Receivable</link:label>
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    <link:loc xlink:href="mcy-20170331.xsd#mcy_LitigationSettlementRefundReceivable" xlink:label="loc_mcy_LitigationSettlementRefundReceivable_7BE566229F083B2FB7F5AB787E9C2AE6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_0209DFA6399AF899FA89B4AF1AEB2252_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_0209DFA6399AF899FA89B4AF1AEB2252" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_0209DFA6399AF899FA89B4AF1AEB2252" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AssetsAbstract_CA3E4054775BE47F9A9DB4AF1AEB1A41_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_CA3E4054775BE47F9A9DB4AF1AEB1A41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_CA3E4054775BE47F9A9DB4AF1AEB1A41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_CA3E4054775BE47F9A9DB4AF1AEB1A41" xlink:to="lab_us-gaap_AssetsAbstract_CA3E4054775BE47F9A9DB4AF1AEB1A41" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed maturity securities (amortized cost $2,884,857; $2,795,410)</link:label>
    <link:label id="lab_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities, Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TradingSecuritiesDebt" xlink:label="loc_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975" xlink:to="lab_us-gaap_TradingSecuritiesDebt_673753AD31F4F188FB42B4AF1AECA975" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A_terseLabel_en-US" xlink:label="lab_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity securities (cost $388,408; $331,770)</link:label>
    <link:label id="lab_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A_label_en-US" xlink:label="lab_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Securities, Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TradingSecuritiesEquity" xlink:label="loc_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A" xlink:to="lab_us-gaap_TradingSecuritiesEquity_934841CCB16C4C2AC0BDB4AF1AEC736A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term investments (cost $260,697; $375,700)</link:label>
    <link:label id="lab_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96_label_en-US" xlink:label="lab_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShortTermInvestments" xlink:label="loc_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96" xlink:to="lab_us-gaap_ShortTermInvestments_33240009DCBA6A1EA382B4AF1AEC2F96" xlink:type="arc" />
    <link:label id="lab_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05_totalLabel_en-US" xlink:label="lab_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total investments</link:label>
    <link:label id="lab_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05_label_en-US" xlink:label="lab_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Investments" xlink:label="loc_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05" xlink:to="lab_us-gaap_Investments_7D772699247CEBF9537BB4AF1AECBC05" xlink:type="arc" />
    <link:label id="lab_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77_terseLabel_en-US" xlink:label="lab_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:label id="lab_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77_label_en-US" xlink:label="lab_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Cash" xlink:label="loc_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77" xlink:to="lab_us-gaap_Cash_7B1FF5B959C924542D93B4AF1AECFC77" xlink:type="arc" />
    <link:label id="lab_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9_terseLabel_en-US" xlink:label="lab_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables:</link:label>
    <link:label id="lab_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9_label_en-US" xlink:label="lab_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Premiums and Other Receivables, Net [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PremiumsAndOtherReceivablesNetAbstract" xlink:label="loc_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9" xlink:to="lab_us-gaap_PremiumsAndOtherReceivablesNetAbstract_E5158317A5F4E2F7BADBB4AF1AEC98F9" xlink:type="arc" />
    <link:label id="lab_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382_terseLabel_en-US" xlink:label="lab_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Premium</link:label>
    <link:label id="lab_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382_label_en-US" xlink:label="lab_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Premiums Receivable, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PremiumsReceivableAtCarryingValue" xlink:label="loc_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382" xlink:to="lab_us-gaap_PremiumsReceivableAtCarryingValue_D48661EDD1D296C30108B4AF1AECA382" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued investment income</link:label>
    <link:label id="lab_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369_label_en-US" xlink:label="lab_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Investment Income Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccruedInvestmentIncomeReceivable" xlink:label="loc_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369" xlink:to="lab_us-gaap_AccruedInvestmentIncomeReceivable_82B825EE7A654D40F119B4AF1AECE369" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A_terseLabel_en-US" xlink:label="lab_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A_label_en-US" xlink:label="lab_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Receivables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherReceivables" xlink:label="loc_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A" xlink:to="lab_us-gaap_OtherReceivables_F8A0C63DE150BDE7BED9B4AF1AEC210A" xlink:type="arc" />
    <link:label id="lab_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25_totalLabel_en-US" xlink:label="lab_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total receivables</link:label>
    <link:label id="lab_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25_label_en-US" xlink:label="lab_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Premiums and Other Receivables, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PremiumsAndOtherReceivablesNet" xlink:label="loc_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25" xlink:to="lab_us-gaap_PremiumsAndOtherReceivablesNet_DC69B72BC30DBC697CF0B4AF1AECAB25" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred policy acquisition costs</link:label>
    <link:label id="lab_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B_label_en-US" xlink:label="lab_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Policy Acquisition Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DeferredPolicyAcquisitionCosts" xlink:label="loc_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B" xlink:to="lab_us-gaap_DeferredPolicyAcquisitionCosts_EDF333A574D18ED2A1C4B4AF1AEC8F4B" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed assets (net of accumulated depreciation $324,551; $319,429)</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet_2B155CE8E568696C2226B4AF1AEC62C6" xlink:type="arc" />
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    <link:label id="lab_us-gaap_UnusualOrInfrequentItemLineItems_2AB9864C87EF06311120B54FEED96061_label_en-US" xlink:label="lab_us-gaap_UnusualOrInfrequentItemLineItems_2AB9864C87EF06311120B54FEED96061" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unusual or Infrequent Item, or Both [Line Items]</link:label>
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