<SEC-DOCUMENT>0001193125-17-068246.txt : 20170303
<SEC-HEADER>0001193125-17-068246.hdr.sgml : 20170303
<ACCEPTANCE-DATETIME>20170302201331
ACCESSION NUMBER:		0001193125-17-068246
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170303
DATE AS OF CHANGE:		20170302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCURY GENERAL CORP
		CENTRAL INDEX KEY:			0000064996
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				952211612
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-215344
		FILM NUMBER:		17661123

	BUSINESS ADDRESS:	
		STREET 1:		4484 WILSHIRE BLVD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90010
		BUSINESS PHONE:		2139371060

	MAIL ADDRESS:	
		STREET 1:		4484 WILSHIRE BLVD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90010
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>d280832d424b5.htm
<DESCRIPTION>424B5
<TEXT>
<HTML><HEAD>
<TITLE>424B5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant to Rule 424(b)(5) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration No. 333-215344 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CALCULATION OF REGISTRATION FEE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>


<TR STYLE="font-size:1px; ">
<TD COLSPAN="5" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>Title of Each Class&nbsp;of Securities to be Registered</B></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Maximum&nbsp;Aggregate</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Offering Price</B></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Amount of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Registration&nbsp;Fee(1)</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.400% Senior Notes due 2027</P></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$375,000,000</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$43,462.50</TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="5" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="5" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Calculated in accordance with Rule 457(r) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). In accordance with Rules 456(b) and 457(r) under the Securities Act, this &#147;Calculation of
Registration Fee&#148; table shall be deemed to update the &#147;Calculation of Registration Fee&#148; table in the <FONT STYLE="white-space:nowrap">Form&nbsp;S-3ASR</FONT> (Reg. No.&nbsp;333-215344). </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>PROSPECTUS SUPPLEMENT </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(To Prospectus Dated December&nbsp;28, 2016) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>$375,000,000 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g280832g69z37.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>4.400%&nbsp;Senior Notes due 2027 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are offering $375,000,000 aggregate principal amount of 4.400% senior notes due 2027 (the &#147;notes&#148;). Interest on the notes is payable
semi-annually in arrears on March 15 and September 15 of each year, beginning on September&nbsp;15, 2017. The notes will mature on March 15, 2027. Prior to December 15, 2026 (the date that is three months prior to the maturity date of the notes), we
may redeem the notes, in whole or in part, at any time at the &#147;make-whole&#148; redemption price described herein. On or after December 15, 2026 (the date that is three months prior to the maturity date of the notes), we may redeem the notes,
in whole or in part, at any time at a redemption price equal to 100% of the principal amount of any notes to be redeemed plus accrued and unpaid interest up to, but excluding, the redemption date, as described in this prospectus supplement under
&#147;Description of Notes&#151;Optional Redemption of the Notes.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes will be unsecured senior obligations of our company and will rank
equally with all of our other unsecured senior indebtedness from time to time outstanding. The notes will be issued only in registered form in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman"><B>Investing in the notes involves risks that are described in &#147;<A HREF="#suprom280832_8">Risk Factors</A>&#148; beginning on page <FONT
STYLE="white-space:nowrap">S-6</FONT> of this prospectus supplement, page&nbsp;5 of the accompanying prospectus and in Item&nbsp;1A &#147;Risk Factors&#148; beginning on page&nbsp;12 of our Annual Report on
<FONT STYLE="white-space:nowrap">Form&nbsp;10-K</FONT> for the year ended December&nbsp;31, 2016. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The notes are a new issue of securities with no
established trading market. We do not intend to apply to list the notes on any securities exchange or have them included in any automated quotation system. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Neither the Securities and Exchange Commission (the &#147;SEC&#148;) nor any state securities commission has approved or disapproved of the notes or
determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Per&nbsp;Senior&nbsp;Note</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Public Offering Price (1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99.847</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">374,426,250</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Underwriting discount</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.650</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,437,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds, before expenses, to us (1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99.197</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">371,988,750</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Plus accrued interest, if any, from March&nbsp;8, 2017, to the date of delivery. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We expect that the notes
will be ready for delivery in book-entry form only through the facilities of The Depository Trust&nbsp;Company (&#147;DTC&#148;) for the accounts of its participants on or about March 8, 2017. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Joint Book-Running Managers </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:16pt" ALIGN="center">


<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:16pt">
<TD VALIGN="top" ALIGN="center"><B>BofA&nbsp;Merrill&nbsp;Lynch</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Wells Fargo Securities</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The date of this prospectus supplement is March 1, 2017. </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROSPECTUS SUPPLEMENT </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_1">ABOUT THIS PROSPECTUS SUPPLEMENT</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-ii</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_2">WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY
REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-ii</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_3">SUMMARY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_4">THE COMPANY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-1</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_5">RECENT DEVELOPMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">S-1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_6">THE OFFERING</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-3</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_7">SUMMARY FINANCIAL INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">S-5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_8">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-6</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_9">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-8</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_10">RATIO OF EARNINGS TO FIXED CHARGES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-9</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_11">CAPITALIZATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-10</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_12">DESCRIPTION OF NOTES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-11</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_13">MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-17</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_14">UNDERWRITING (CONFLICTS OF INTEREST)</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-22</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_15">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-27</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#suprom280832_16">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="white-space:nowrap">S-27</FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PROSPECTUS</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="top"> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt"></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>&nbsp;</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt"></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_2">WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY
REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_3">THE COMPANY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_4">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_5">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_6">RATIO OF EARNINGS TO FIXED CHARGES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_7">DESCRIPTION OF DEBT SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_8">GLOBAL SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_9">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_10">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_11">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_1"></A>ABOUT THIS PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This document consists of two parts. The first part is this prospectus supplement, which describes the specific terms of our offering of the
notes. The second part is the accompanying prospectus, which provides more general information, some of which may not be applicable to this offering. This prospectus supplement and the accompanying prospectus include important information about us,
the notes and other information you should know before making a decision to invest in the notes. This prospectus supplement also adds, updates and changes certain information contained in the accompanying prospectus. If there is any inconsistency
between the information in this prospectus supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement. Further, to the extent the information contained in this prospectus supplement differs or varies
from the information contained in the accompanying prospectus or documents incorporated by reference, the information in this prospectus supplement will supersede such information. In addition, any statement in a filing we make with the SEC that
adds to, updates or changes information contained in an earlier filing we made with the SEC shall be deemed to modify and supersede such information in the earlier filing. Before making a decision to purchase the notes, you should carefully read
both this prospectus supplement and the accompanying prospectus, together with the additional information about us described under &#147;Where You Can Find More Information; Incorporation by Reference&#148; in this prospectus supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>You should rely only on the information contained or incorporated by reference in this prospectus supplement and the accompanying
prospectus and in any free writing prospectus we prepare or authorize that supplements this prospectus supplement. We have not, and the underwriters have not, authorized any other person to provide you with different or additional information. If
anyone other than us provides you with different, additional or inconsistent information, you should not rely on it. We are not, and the underwriters are not, making an offer to sell the notes in any jurisdiction where the offer or sale is not
permitted. You should assume that the information appearing in this prospectus supplement and the accompanying prospectus and the documents incorporated by reference herein or therein is accurate only as of their respective dates. Our business,
financial condition, results of operations and prospects may have changed since those dates. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">When we refer to &#147;Mercury
General,&#148; &#147;we,&#148; &#147;our,&#148; &#147;us&#148; and the &#147;Company&#148; in this prospectus supplement, we mean Mercury General Corporation and its consolidated subsidiaries, unless otherwise specified. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_2"></A>WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We file reports, proxy statements and other information with the SEC. Information filed with the SEC by us can be inspected and copied at the
Public Reference Room maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may also obtain copies of this information by mail from the Public Reference Room of the SEC at prescribed rates. Further information on the operation of
the SEC&#146;s Public Reference Room in Washington, D.C. can be obtained by calling the SEC at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-SEC-0330.</FONT></FONT></FONT> The SEC also
maintains a web site that contains reports, proxy and information statements and other information about issuers, such as us, who file electronically with the SEC. The address of that website is <I>http://www.sec.gov</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our website address is <I>mercuryinsurance.com</I>. The information on our web site, however, is not, and should not be deemed to be, a part
of this prospectus supplement or the accompanying prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We incorporate by reference our documents listed below and any future
filings made by us with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, which we refer to as the &#147;Exchange Act&#148; in this prospectus supplement, between the date of this prospectus
supplement and the accompanying prospectus and the termination of the offering of the securities described in this prospectus supplement and the accompanying prospectus. We are not, however, incorporating by reference any documents or portions
thereof, whether specifically listed below or filed in the future, that are not deemed &#147;filed&#148; with the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
SEC, including our Compensation Committee report and performance graph or any information furnished pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K</FONT> or related
exhibits furnished pursuant to Item&nbsp;9.01 of Form <FONT STYLE="white-space:nowrap">8-K.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus supplement and the
accompanying prospectus incorporate by reference the documents set forth below that have previously been filed with the SEC: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2016, filed with the SEC on February&nbsp;9, 2017. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Definitive Proxy Statement on Schedule 14A filed with the SEC on April&nbsp;1, 2016. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed with the SEC on February&nbsp;6, 2017 (with respect to Item 5.02 only) and March&nbsp;1, 2017. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All reports and other documents we subsequently file pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the
termination of this offering, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference into this prospectus supplement and deemed to be part of this prospectus supplement from the date of
the filing of such reports and documents. Any statement contained in a document that is incorporated by reference in this prospectus supplement and the accompanying prospectus is automatically updated and superseded if information contained in this
prospectus supplement and the accompanying prospectus, or information that we later file with the SEC prior to the termination of this offering, modifies or replaces this information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You may request a free copy of any of the documents incorporated by reference in this prospectus supplement and the accompanying prospectus
(other than exhibits, unless they are specifically incorporated by reference in the documents) by writing or telephoning us at the following address: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Mercury General Corporation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4484
Wilshire Boulevard </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Los Angeles, California 90010 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(323) <FONT STYLE="white-space:nowrap">937-1060</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Exhibits to the filings will not be sent, however, unless those exhibits have specifically been incorporated by reference in this prospectus
supplement and the accompanying prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Neither this prospectus supplement nor the accompanying prospectus is a prospectus for the
purposes of the Prospectus Directive (as defined below). This prospectus supplement and the accompanying prospectus have been prepared on the basis that any offer of notes in any Member State of the European Economic Area which has implemented the
Prospectus Directive (each, a &#147;Relevant Member State&#148;) will be made pursuant to an exemption under the Prospectus Directive from the requirement to publish a prospectus for offers of notes. Accordingly, any person making or intending to
make an offer in that Relevant Member State of notes which are the subject of the offering contemplated in this prospectus supplement and the accompanying prospectus may only do so in circumstances in which no obligation arises for Mercury General
or any of the underwriters to publish a prospectus pursuant to Article 3 of the Prospectus Directive in relation to such offer. None of Mercury General, the trustee (or its agents) or the underwriters have authorized, nor do they authorize, the
making of any offer of notes in circumstances in which an obligation arises for Mercury General or the underwriters to publish a prospectus for such offer. The expression &#147;Prospectus Directive&#148; means Directive 2003/71/EC (as amended,
including by Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The communication of
this prospectus supplement and the accompanying prospectus and any other document or materials relating to the issue of the notes offered hereby is not being made, and such documents and/or materials have not been approved, by an authorized person
for the purposes of section 21 of the United Kingdom&#146;s Financial Services and Markets Act 2000, as amended (the &#147;FSMA&#148;). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the
general public in the United&nbsp;Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom who have professional experience in matters relating to investments
and who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the &#147;Financial Promotion Order&#148;)), or within Article
49(2)(a) to (d)&nbsp;of the Financial Promotion Order, or to any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such persons together being referred to as &#147;relevant persons&#148;). In the United
Kingdom, the notes offered hereby are only available to, and any investment or investment activity to which this prospectus supplement and the accompanying prospectus relate will be engaged in only with, relevant persons. Any person in the United
Kingdom that is not a relevant person should not act or rely on this prospectus supplement or the accompanying prospectus or any of their contents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_3"></A>SUMMARY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>This summary is not complete and does not contain all of the information that you should consider before investing in our notes. You should
read the entire prospectus supplement and accompanying prospectus carefully, including &#147;Risk Factors&#148; and our consolidated financial statements and the related notes, other financial information and other documents incorporated by
reference into this prospectus supplement and accompanying prospectus, before you decide to invest in our notes. </I></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_4">
</A>THE COMPANY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mercury General and its subsidiaries are primarily engaged in writing personal automobile insurance through 14
insurance subsidiaries in 11 states, principally California. Mercury General also writes homeowners, commercial automobile, commercial property, mechanical breakdown, and umbrella insurance. These policies are mostly sold through independent agents
who receive a commission for selling policies. The Company believes that it has thorough underwriting and claims handling processes that, together with its agent relationships, provide the Company with competitive advantages. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We filed our certificate of incorporation with the Secretary of State of California on December&nbsp;27, 1960. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our principal executive offices are located at 4484 Wilshire Boulevard, Los Angeles, California 90010, and our telephone number is <FONT
STYLE="white-space:nowrap">(323)&nbsp;937-1060.</FONT> </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_5"></A>RECENT DEVELOPMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Concurrently with the consummation of this offering, we intend to terminate and prepay (or cause our subsidiaries to prepay) all amounts
outstanding under each of (i)&nbsp;that certain Credit Agreement dated as of January&nbsp;2, 2009 (as amended, the &#147;MCC Bank of America Facility&#148;), among Mercury General as the guarantor, Mercury Casualty Company (&#147;MCC&#148;) as the
borrower, Bank of America, N.A. as the administrative agent and as a lender, and the other parties party thereto, (ii)&nbsp;that certain Term Loan Agreement dated as of October&nbsp;4, 2011 (as amended, the &#147;Union Bank Facility&#148;), among
Mercury General as the parent, MCC as the borrower, and Union Bank, N.A., as the lender, and (iii)&nbsp;that Credit Agreement dated as of July&nbsp;2, 2013 (as amended, the &#147;Revolving Facility&#148; and together with the MCC Bank of America
Facility, the &#147;Credit Facilities&#148;), among Mercury General as the borrower, Bank of America, N.A., as the administrative agent, the issuer of letters of credit, and as a lender, Union Bank, N.A., as a lender, and Merrill Lynch, Pierce,
Fenner &amp; Smith Incorporated, as the sole lead arranger and sole book manager. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">See &#147;Use of Proceeds&#148; and &#147;Underwriting
(Conflicts of Interest)&#151;Conflicts of Interest and Relationships&#148; for additional information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;17, 2017, Fitch
Ratings revised our credit rating outlook from stable to negative, affirmed the rating of the insurance subsidiaries at &#147;A+&#148; and downgraded the holding company Issuer Default Rating to &#147;A-&#148; from &#147;A&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Following the issuance of the notes and the termination of the Credit Facilities, Mercury General intends to enter into a new unsecured
revolving credit facility (the &#147;New Revolving Facility&#148;) with Bank of America, N.A., serving as the administrative agent, the issuer of letters of credit, and as a lender, Wells Fargo Bank, N.A., as a lender, and Merrill Lynch, Pierce,
Fenner &amp; Smith Incorporated, as the sole lead arranger and sole book manager. Under the New Revolving Facility, it is currently anticipated that Mercury General will have access to at least a $50,000,000 line of credit and that the New Revolving
Facility will have an accordion feature that would enable Mercury General to increase the borrowing capacity of the New Revolving Facility to up to $75,000,000. We expect that the New </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div><br clear="All"></div><br clear="All">

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Revolving Facility will have terms substantially similar to the Revolving Facility. However, we have not obtained any financing commitments for the New Revolving Facility, and it is subject to
the execution of definitive documentation and other uncertainties, many of which are not within our control. There can be no assurance that we will enter into the New Revolving Facility on the terms described or at all. </P>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div><br clear="All"></div><br clear="All">

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_6"></A>THE OFFERING </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>The following is a brief summary of certain terms of this offering. Certain of the terms and conditions described below are subject to
important limitations and exceptions. You should read this prospectus supplement and the accompanying prospectus before making an investment in the notes. For a more complete description of the terms and conditions of the notes, see
&#147;Description of Notes&#148; in this prospectus supplement. </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Notes Offered </P></TD>
<TD>$375,000,000 aggregate principal amount of 4.400% Senior Notes due 2027, which we refer to as the notes. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Maturity Date </P></TD>
<TD>March 15, 2027. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Interest and Payment Dates </P></TD>
<TD>4.400% per annum, payable semi-annually in arrears in cash on March&nbsp;15 and September&nbsp;15 of each year, beginning September&nbsp;15, 2017. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Ranking </P></TD>
<TD>The notes: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="38%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="right">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">will be senior unsecured obligations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="38%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="right">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">will be senior to any future subordinated debt and other liabilities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="38%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="right">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">will rank equally with our other senior unsecured debt and other liabilities from time to time outstanding; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="38%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="right">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">will be effectively junior to any secured debt to the extent of the value of the assets securing such debt and other liabilities; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="38%">&nbsp;</TD>
<TD WIDTH="1%" VALIGN="top" ALIGN="right">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">will be effectively junior to all existing and future debt and other liabilities of our subsidiaries, including insurance liabilities of our operating insurance subsidiaries. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="38%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2016, including the debt of our subsidiaries, we had a total of $300&nbsp;million outstanding with $70&nbsp;million available for future borrowings under the Credit Facilities and approximately
$20&nbsp;million outstanding under the Union Bank Facility. A portion of the net proceeds of this offering will be applied to reduce or retire the balance of the existing debt under the Credit Facilities and the Union Bank Facility. See &#147;Use of
Proceeds&#148; and &#147;Underwriting (Conflicts of Interest)&#151;Conflicts of Interest and Relationships.&#148; As of December&nbsp;31, 2016, our subsidiaries had approximately $140&nbsp;million aggregate principal amount of outstanding debt and
our insurance subsidiaries had reserves for claims and benefits of approximately $1.3&nbsp;billion. See &#147;Risk Factors&#151;The notes are structurally subordinated. This may affect your ability to receive payments on the notes.&#148;
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Optional Redemption </P></TD>
<TD>We may redeem the notes at our option, at any time in whole or from time to time in part, on not less than 30 nor more than 60 days&#146; notice, at the redemption price described in this prospectus supplement under &#147;Description of
Notes&#151;Optional Redemption of the Notes.&#148; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Covenants </P></TD>
<TD>The notes and the related indenture do not contain any financial or other similar restrictive covenants. However, we will be subject to the covenants described in this prospectus supplement under &#147;Description of Notes&#151;Covenants
Applicable to the Notes.&#148; </TD></TR></TABLE>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div><br clear="All"></div><br clear="All">

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Use of Proceeds </P></TD>
<TD>We estimate that the net proceeds from this offering will be approximately $371.2&nbsp;million after deducting the underwriting discount and our estimated expenses related to this offering. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD>We intend to use the net proceeds from this offering to repay our outstanding indebtedness, including borrowings under our Credit Facilities and Union Bank Facility, and for general corporate purposes. See &#147;Use of Proceeds&#148; for
additional information. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Conflicts of Interest </P></TD>
<TD>Certain affiliates of the underwriters are lenders pursuant to our Credit Facilities and may receive at least 5% of the net proceeds of the offering in connection with the repayment of that indebtedness described under &#147;Use of
Proceeds.&#148; Accordingly, this offering is being made in accordance with the requirements of the Financial Industry Regulatory Authority, Inc. (&#147;FINRA&#148;) Rule 5121. See &#147;Underwriting (Conflicts of Interest)&#151;Conflicts of
Interest and Relationships.&#148; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Form and Denomination </P></TD>
<TD>The notes will be issued in fully registered book-entry form and will be represented by permanent global notes without coupons. Global notes will be deposited with a custodian for and registered in the name of a nominee of DTC. Investors may
elect to hold interests in the global notes through DTC and its direct or indirect participants as described in the accompanying prospectus under &#147;Global Securities&#151;Book-Entry, Delivery and Form.&#148; The notes will be issued in minimum
denominations of $2,000 and any integral multiple of $1,000 in excess thereof. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Trading </P></TD>
<TD>The notes are a new issue of securities with no established trading market. The notes will not be listed on any securities exchange or included in any automated quotation system. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Risk Factors </P></TD>
<TD>See &#147;Risk Factors&#148; and other information included or incorporated by reference in this prospectus supplement for a discussion of the factors you should carefully consider before deciding to invest in the notes. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Further Issues </P></TD>
<TD>We may from time to time, without notice to or the consent of the holders or beneficial owners of the notes, create and issue additional notes and/or notes having the same ranking, interest rate, maturity and other terms as the notes. Any
additional debt securities having such similar terms, together with the notes, will constitute a single series of securities under the indenture. See &#147;Description of Notes&#151;Further Issues&#148; for additional information. </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Trustee </P></TD>
<TD>Wilmington Trust, National Association will act as the trustee under the indenture. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="TOP">
<TD WIDTH="38%"> <P STYLE=" margin-top:0pt; margin-bottom:1pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Governing Law </P></TD>
<TD>The indenture and the notes will be governed by, and construed in accordance with, the laws of the State of New York. </TD></TR></TABLE>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div><br clear="All"></div><br clear="All">

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="BORDER-BOTTOM:1.00pt solid #000000;BORDER-LEFT:1.00pt solid #000000;BORDER-RIGHT:1.00pt solid #000000;BORDER-TOP:1.00pt solid #000000;MARGIN-LEFT:0px;MARGIN-RIGHT:0px;WIDTH:100%"><div style="width:97%; margin-top:1.5%; margin-left:1.5%; margin-right:-1.25%">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_7"></A>SUMMARY FINANCIAL DATA </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following selected financial data are derived from our audited consolidated financial statements. You should read this information in
conjunction with the consolidated financial statements and related notes and &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations&#148; in our Annual Report on
<FONT STYLE="white-space:nowrap">Form&nbsp;10-K</FONT> for the fiscal year ended December&nbsp;31, 2016, which is incorporated by reference into this prospectus supplement. Our historical results of operations are not necessarily indicative of
future results of operations. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:158.75pt; font-size:8pt; font-family:Times New Roman"><B>(Amounts&nbsp;in&nbsp;thousands,&nbsp;except&nbsp;per
share&nbsp;data)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;Ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2016</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2015</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income Data:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net premiums earned</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,131,773</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,957,897</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,796,195</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,698,187</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,574,920</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net investment income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121,871</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126,299</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">125,723</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124,538</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">131,896</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net realized investment (losses) gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(34,255</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(83,807</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81,184</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11,422</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66,380</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,294</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,671</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,738</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,174</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total revenues</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,227,683</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,009,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,011,773</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,821,041</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,783,370</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Losses and loss adjustment expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,355,138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,145,495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,986,122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,962,690</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,961,448</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Policy acquisition costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">562,545</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">539,231</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">526,208</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">505,517</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">477,788</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other operating expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">235,314</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">250,839</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">249,381</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">219,478</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">207,281</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,962</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,637</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,260</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,543</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,156,959</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,938,733</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,764,348</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,688,945</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,648,060</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income before income taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70,724</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70,567</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">247,425</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132,096</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">135,310</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax (benefit) expense</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2,320</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,912</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69,476</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19,953</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18,399</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">73,044</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">74,479</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">177,949</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">112,143</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">116,911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Per Share Data:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic earnings per share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted earnings per share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1.35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3.23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividends paid per share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.4825</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.4725</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.4625</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.4525</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2.4425</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:158.75pt; font-size:8pt; font-family:Times New Roman"><B>(Amounts&nbsp;in&nbsp;thousands,&nbsp;except&nbsp;per
share&nbsp;data)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2016</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2015</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Balance Sheet Data:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD COLSPAN="17" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total investments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,547,560</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,380,642</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,403,822</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,158,312</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">3,180,095</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,788,718</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,628,645</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,600,289</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,315,181</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,189,686</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loss and loss adjustment expense reserves</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,290,248</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,146,688</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,091,797</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,038,984</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,036,123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unearned premiums</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,074,437</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,049,314</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">999,798</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">953,527</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">920,429</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notes payable</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">320,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">290,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">290,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">190,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">140,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shareholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,752,402</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,820,885</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,875,446</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,822,486</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,842,497</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Book value per share</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31.70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.01</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34.02</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <P STYLE="margin-top:0pt;margin-bottom:0pt; font-size:8pt">&nbsp;</P></div><br clear="All"></div><br clear="All">

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_8"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Prospective investors should carefully consider the following risk factors and the risk factors and assumptions related to our business
identified or described in our most recent annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> and any subsequent Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> and all other information contained or incorporated by reference into this prospectus supplement and the accompanying prospectus before acquiring any of the notes. The occurrence of any one or more of the
following could materially adversely affect your investment in the notes or our business and operating results. </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Risks Relating to the Notes
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We are an insurance holding company and, therefore, may not be able to receive dividends in amounts needed to service our debt.
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As an insurance holding company, our principal assets are the shares of capital stock of our insurance company subsidiaries. We
have to rely on dividends from our insurance company subsidiaries to meet our obligations for paying principal and interest on outstanding debt obligations and for paying corporate expenses. The payment of dividends by our insurance company
subsidiaries is subject to regulatory restrictions and will depend on the surplus and future earnings of these subsidiaries, as well as the regulatory restrictions. In 2017 the maximum amount of dividends that can be paid without regulatory approval
is approximately $144&nbsp;million. As a result, we may not be able to receive dividends from these subsidiaries at times and in amounts necessary to meet our obligations under the notes. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The notes are structurally subordinated. This may affect your ability to receive payments on the notes. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The notes are obligations exclusively of Mercury General. We currently conduct a significant portion of our operations through our subsidiaries
and our subsidiaries have significant liabilities. In addition, we may, and in some cases we have plans to, conduct additional operations through our subsidiaries in the future and, accordingly, our subsidiaries&#146; liabilities will increase. Our
cash flow and our ability to service our debt, including the notes, therefore partially depends upon the earnings of our subsidiaries, and we depend on the distribution of earnings, loans or other payments by those subsidiaries to us. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our right to receive any assets of any of our subsidiaries upon liquidation or reorganization, and, as a result, the right of the holders of
the notes to participate in those assets, will be effectively subordinated to the claims of that subsidiary&#146;s creditors, including trade creditors and preferred stockholders, if any, and the policyholders of our operating insurance
subsidiaries. The notes do not restrict the ability of our subsidiaries to incur additional liabilities. In addition, even if we were a creditor of any of our subsidiaries, our rights as a creditor would be subordinate to any security interest in
the assets of our subsidiaries and any indebtedness of our subsidiaries senior to indebtedness held by us. As of December&nbsp;31, 2016, our subsidiaries had approximately $140&nbsp;million aggregate principal amount of outstanding debt and our
insurance subsidiaries had reserves for claims and benefits of approximately $1.3&nbsp;billion. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Active trading markets for the
notes may not develop. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The notes are a new issue of securities for which there are currently no public markets, and no active
trading markets may ever develop. If the notes are traded after their initial issuance, they may trade at a discount from their initial offering prices, depending on prevailing interest rates, the market for similar securities, our performance and
other factors. To the extent that active trading markets do not develop, the liquidity and trading prices for the notes may be harmed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We
have no plans to apply to list the notes on a securities exchange or have them included in any automated quotation system. We have been advised by the underwriters that they presently intend to make a market in the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
notes after this offering is completed. However, the underwriters are not obligated to do so. Any market-making activity, if initiated, may be discontinued at any time, for any reason or for no
reason, without notice to or consent of existing noteholders. If the underwriters cease to act as the market-makers for the notes, we cannot assure you another firm or person will make markets in the notes. Further, we cannot assure you that an
active trading market will develop, or if developed, continue, for the notes. If no active trading market develops or continues, you may not be able to resell your notes at their fair market value or at all. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The liquidity of any markets for the notes will depend upon a number of factors, including the number of holders of the notes, our results of
operations and financial condition, the markets for similar securities, the interest of securities dealers in making markets in the notes and other factors. Active or liquid trading markets for the notes may not develop. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The limited covenants in the indenture for the notes and the terms of the notes do not provide protection against some types of
important corporate events and may not protect your investment. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture for the notes does not: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">require us to maintain any financial ratios or specific levels of net worth, revenues, income, cash flow or liquidity and, accordingly, does not protect holders of the notes in the event that we experience significant
adverse changes in our financial condition or results of operations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">limit our subsidiaries&#146; ability to incur indebtedness, which could effectively rank senior to the notes; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">except to the limited extent described in &#147;Description of Notes,&#148; limit our ability to incur substantial secured indebtedness that would effectively rank senior to the notes to the extent of the value of the
assets securing the indebtedness; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">limit our ability to incur indebtedness that is equal in right of payment to the notes; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">restrict our subsidiaries&#146; ability to issue securities or otherwise incur indebtedness that would be senior to our equity interests in our subsidiaries; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">restrict our ability to repurchase or prepay our securities; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">restrict our ability to make investments or to repurchase or pay dividends or make other payments in respect of our common stock or other securities ranking junior to the notes. Furthermore, the indenture for the notes
contains only limited protections in the event of a change in control. We could engage in many types of transactions, such as certain acquisitions, refinancings or recapitalizations that could substantially affect our capital structure and the
values of the notes. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Any downgrade in our credit ratings could limit our ability to obtain future financing, increase
our borrowing costs and adversely affect the trading prices for, or liquidity of, the notes. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are subject to periodic review by
independent credit rating agencies. On February&nbsp;17, 2017, Fitch Ratings revised our credit rating outlook from stable to negative, affirmed the rates of the insurance subsidiaries at &#145;A+&#146; and downgraded the holding company Issuer
Default Rating to <FONT STYLE="white-space:nowrap">&#145;A-&#146;</FONT> from &#145;A.&#146; An increase in the level of our outstanding indebtedness, or other events that could have an adverse impact on our financial condition or results of
operations, may cause the rating agencies to downgrade, place on negative watch or change their outlook on our debt credit rating generally, and the ratings on the notes, which could adversely impact the trading price for, or the liquidity of, the
notes. Any such downgrade, placement on negative watch or change in outlook could also adversely affect our cost of borrowing, limit our access to the capital markets or result in more restrictive covenants in future debt agreements. The ratings on
the notes may not reflect the potential impact of all risks related to structure, market, additional factors discussed above and other factors that may affect the value of the notes. A credit rating is not a recommendation to buy, sell or hold
securities and may be revised, suspended or withdrawn by the rating agency at any time. See &#147;Recent Developments&#148; for additional information. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_9"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We estimate that the net proceeds from this offering will be approximately $371.2&nbsp;million after deducting the underwriting discount and
our estimated expenses related to this offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We intend to use the net proceeds from this offering to repay the balance of our
outstanding indebtedness, including borrowings under the Credit Facilities and the Union Bank Facility, and for general corporate purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of January&nbsp;31, 2017, we had $180&nbsp;million outstanding under the Revolving Facility, which matures on December&nbsp;3, 2019, and
had a weighted average interest rate at January&nbsp;31, 2017 of 1.9%, $120&nbsp;million outstanding under the MCC Bank of America Facility, which matures on December&nbsp;3, 2018, and had an interest rate at January&nbsp;31, 2017 of 1.2% and
$20&nbsp;million under the Union Bank Facility, which matures on December&nbsp;3, 2017, and had an interest rate at January&nbsp;31, 2017 of 1.2%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To the extent that net proceeds from this offering are applied to reduce or retire the balance of the existing debt under the Credit
Facilities held by any of the underwriters or their affiliates, they will receive net proceeds of this offering through the repayment of that indebtedness. If 5% or more of the net proceeds of this offering (not including underwriting discounts) is
used to reduce or retire the balance of the existing debt under the Credit Facilities held by at least one of the underwriters or its affiliates, this offering will be conducted in accordance with FINRA Rule 5121. In such event, such underwriter or
underwriters will not confirm sales of the notes to accounts over which they exercise discretionary authority without the prior written approval of the customer. See &#147;Underwriting (Conflicts of Interest)&#151;Conflicts of Interest and
Relationships.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_10"></A>RATIO OF EARNINGS TO FIXED CHARGES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets forth the historical ratios of earnings to fixed charges for Mercury General and its consolidated subsidiaries for
the periods indicated. For purposes of computing the following ratios, earnings consist of income from continuing operations before income taxes plus fixed charges to the extent that such charges are included in the determination of earnings. Fixed
charges consist of interest expense, including amortization of premiums, discounts and debt issuance costs, the interest component of rental expense (for this calculation, 33.3% represents a reasonable approximation of the interest factor) and
estimated interest on uncertain tax positions. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;Ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2016</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2015</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratio of Earnings to Fixed Charges</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the periods indicated above, we had no outstanding shares of preferred stock with required dividend
payments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_11"></A>CAPITALIZATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets forth our unaudited consolidated cash, cash equivalents and marketable securities and capitalization as of
December&nbsp;31, 2016. The table is presented: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">on an actual basis; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">as adjusted to reflect the proceeds to us from the sale of the notes pursuant to this offering and the use of such proceeds as described in this prospectus supplement under &#147;Use of Proceeds.&#148;
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>As&nbsp;of&nbsp;December&nbsp;31,&nbsp;2016</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Actual</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>As&nbsp;Adjusted</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><B>(unaudited)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><B>(in&nbsp;millions)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">271</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Short-term debt:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Secured Loan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total short-term debt</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term debt, less current portion:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Secured credit facility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unsecured credit facility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Senior unsecured notes<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">375</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total long-term debt, less current portion</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">375</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Debt</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">320</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">375</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Shareholders&#146; equity:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Common stock without par value or stated value:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Authorized 70,000,000 shares; issued and outstanding 55,289,077</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional <FONT STYLE="white-space:nowrap">paid-in</FONT> capital</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Retained earnings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,657</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,657</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total shareholders&#146; equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,752</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">1,752</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total capitalization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,052</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">2,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">The $375 million of notes offered hereby are presented at their face amount and do not give effect to the impact of original issue discount and capitalized debt offering costs. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_12"></A>DESCRIPTION OF NOTES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Set forth below is a description of the specific terms of the notes. This description supplements, and should be read together with, the description of the
general terms and provisions of our debt securities set forth in the accompanying prospectus under the caption &#147;Description of Debt Securities.&#148; Any information regarding the notes contained in this prospectus supplement that is
inconsistent with information in the accompanying prospectus will supersede any inconsistent information in the accompanying prospectus. The following description does not purport to be complete and is subject to, and qualified in its entirety by
reference to, the indenture, as supplemented by the first supplemental indenture, which will provide for the issuance of the notes which we collectively refer to as the &#147;indenture,&#148; between Mercury General Corporation, as issuer, and
Wilmington Trust, National Association, as trustee, which we refer to as the &#147;trustee,&#148; pursuant to which the notes will be issued. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Principal, Maturity, Interest and Denomination </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
principal amount of notes offered for sale pursuant to this prospectus supplement is $375,000,000. The notes will mature on March&nbsp;15, 2027. The notes will bear interest from the date of issuance, payable semi-annually on March&nbsp;15 and
September&nbsp;15 of each year, beginning&nbsp;on September&nbsp;15, 2017, to the person in whose name a note is registered at the close of business on March&nbsp;1 or September&nbsp;1, as the case may be, next preceding such interest payment date.
The notes will be issued in book-entry form in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest payments on
the notes shall be computed and paid on the basis of a <FONT STYLE="white-space:nowrap">360-day</FONT> year of twelve 30&nbsp;day months. In the event that any date on which interest is payable on the notes is not a business day, then the payment of
interest payable on such date will be made on the next succeeding day that is a business day (and without any interest or other payment in respect of any such delay). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There is no limit on the aggregate principal amount of notes of this series that we may issue. We reserve the right, from time to time and without the consent
of any registered holders of any of the notes, to <FONT STYLE="white-space:nowrap">re-open</FONT> this series of notes and issue additional notes, upon the terms and subject to the conditions set forth in the indenture so long as any such additional
notes have the same tenor and terms (including, without limitation, rights to receive accrued and unpaid interest as the notes then outstanding), so that such additional notes shall be consolidated with, form a single series with and increase the
aggregate principal amount of the notes, provided that such additional notes shall be fungible for U.S. federal income tax purposes with the previously issued notes. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Further Issues </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We may, without giving notice to or
seeking the consent of the holders of the notes, issue additional securities having the same terms (except for the issue date and, in some cases, the public offering price and the first interest payment date) as, and ranking equally and ratably
with, the notes.&nbsp;Any additional securities, together with the notes offered for sale pursuant to this prospectus supplement, will constitute a single series of securities under the indenture.&nbsp;No additional securities may be issued if an
Event of Default under the indenture has occurred and is continuing with respect to the notes. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ranking </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes will be senior unsecured obligations of Mercury General and will rank equal in right of payment to all of our other senior unsecured indebtedness. In
addition, we are structured as a holding company and conduct most of our business operations through our subsidiaries. The notes will be effectively subordinated to all existing and future indebtedness and other liabilities and obligations of our
subsidiaries, which are distinct legal entities having no obligation to pay any amounts pursuant to the notes or to make funds available. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are not restricted under the terms of the notes from incurring additional debt or repurchasing our securities.
In addition, the indenture does not contain any covenants which require us to achieve or maintain any minimum financial results relating to our financial position or results of operations. Our ability to incur additional debt and take a number of
other actions that are not limited by the terms of the notes could have the effect of diminishing our ability to make payments on the notes when due. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As
of December&nbsp;31, 2016, including the debt of our subsidiaries, we had a total of $ 300&nbsp;million outstanding with $70&nbsp;million available for future borrowings under the Credit Facilities and approximately $20&nbsp;million outstanding
under the Union Bank Facility. A portion of the net proceeds of this offering will be applied to reduce or retire the balance of the existing debt under the Credit Facilities and the Union Bank Facility. See &#147;Use of Proceeds&#148; and
&#147;Underwriting (Conflicts of Interest)&#151;Conflicts of Interest and Relationships.&#148; The notes will be structurally subordinate to all liabilities of our subsidiaries. Our insurance subsidiaries have customary liabilities associated with
insurance policies issued by those subsidiaries (generally claims and benefits), reinsurance obligations and other trade payables and expenses. As of December&nbsp;31, 2016, our subsidiaries had approximately $140&nbsp;million aggregate principal
amount of outstanding debt and our insurance subsidiaries had reserves for claims and benefits of approximately $1.3&nbsp;billion. See &#147;Risk Factors&#151;The notes are structurally subordinated. This may affect your ability to receive payments
on the notes.&#148; Senior indebtedness does not include obligations to trade creditors created or assumed by us in the ordinary course of business, which will rank <I>pari</I> <I>passu</I> with the notes in right of payment upon liquidation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Maturity </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes will mature on March&nbsp;15, 2027.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Interest </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes will bear interest at the rate
of 4.400% per annum, and will be payable semi-annually in arrears on March&nbsp;15 and September&nbsp;15 of each year, beginning on September&nbsp;15, 2017, each of which we refer to as an interest payment date, to the record holders at the close of
business on March&nbsp;1 and September&nbsp;1, as the case may be, next preceding such interest payment date, whether or not a business day. However, interest that we pay on the maturity date or a redemption date will be payable to the person to
whom the principal will be payable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest payments will include accrued interest from, and including, the original issue date, or, if interest has
already been paid, from the last date in respect of which interest has been paid or duly provided for up to, but excluding, the next succeeding interest payment date, the maturity date or the redemption date, as the case may be. The amount of
interest payable for any interest payment period will be computed on the basis of a <FONT STYLE="white-space:nowrap">360-day</FONT> year comprised of twelve <FONT STYLE="white-space:nowrap">30-day</FONT> months. If any date on which interest is
payable on the notes is not a business day, then payment of the interest payable on such date will be made on the next succeeding day that is a business day (and without any interest or other payment in respect of any such delay). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest not paid on any payment date will accrue and compound quarterly at a rate per year equal to the rate of interest on the notes until paid. References
to &#147;interest&#148; include interest accruing on the notes, interest on deferred interest payments and other unpaid amounts and compounded interest, as applicable and in each case to the extent permitted by applicable law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Optional Redemption of the Notes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to December&nbsp;15, 2026 (the date that is three months prior to the maturity date of the notes, the (&#147;Par Call Date&#148;)), the notes may be
redeemed, in whole or in part, at our option, at any time or from time to time, on notice given not more than 60 days, nor less than 30 days, prior to the date of redemption, at a redemption price equal to the greater of: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">100% of the principal amount of any notes to be redeemed; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the sum of the present values of the remaining scheduled payments of principal and interest on any notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a
semi-annual basis (assuming a <FONT STYLE="white-space:nowrap">360-day</FONT> year consisting of twelve <FONT STYLE="white-space:nowrap">30-day</FONT> months) at the then current Treasury Rate plus 30 basis points. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On or after the Par Call Date, the notes may be redeemed, in whole or in part, at our option, at any time or from time to time, on notice given not more than
60 days, nor less than 30 days, prior to the date of redemption, at a redemption price equal to 100% of the principal amount of any notes to be redeemed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If we redeem any notes pursuant to the foregoing paragraphs, we will pay accrued and unpaid interest on the principal amount of any note being redeemed to the
date of redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Comparable Treasury Issue&#148; means the United States Treasury security selected by an Independent Investment Banker as
having an actual or interpolated maturity comparable to the remaining term of the notes to be redeemed as if the notes matured on the Par Call Date (the &#147;Remaining Life&#148;) that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life of such notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Comparable Treasury Price&#148; means, with respect to any redemption date, (1)&nbsp;the average of the Reference Treasury Dealer Quotations for such
redemption date determined by us, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2)&nbsp;if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average,
determined by us, of all Reference Treasury Dealer Quotations obtained. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Independent Investment Banker&#148; means one of the Reference Treasury
Dealers appointed by us. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Reference Treasury Dealer&#148; means each of (i)&nbsp;Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated; and
(ii)&nbsp;Wells Fargo Securities, LLC, and their respective successors; and (iii)&nbsp;two other nationally recognized investment banking firms that are Primary Treasury Dealers specified from time to time by us; provided, however, that if any of
the foregoing or their successors cease to be a primary U.S. Government securities dealer (each, a &#147;Primary Treasury Dealer&#148;), we will substitute therefor another such Primary Treasury Dealer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Reference Treasury Dealer Quotations&#148; means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by
us in good faith, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to us (with a copy to the trustee) by such Reference Treasury Dealer at 3:30 p.m., New
York City time, on the third business day preceding such redemption date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Treasury Rate&#148; means, with respect to any redemption date, the rate
per year equal to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated &#147;H.15(519)&#148; or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption &#147;Treasury </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Constant Maturities,&#148; for the maturity corresponding to the Comparable Treasury Issue; provided that, if no maturity is within three months before or after the Remaining Life of the notes to
be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated from those yields on a straight line basis, rounding to the nearest
month; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields,
the rate per year equal to the semi-annual equivalent yield to maturity or interpolated maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal
to the Comparable Treasury Price for such redemption date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Treasury Rate will be calculated by us in good faith on the third business day preceding
the redemption date. As used in the immediately preceding sentence and in the definition of &#147;Reference Treasury Dealer Quotations&#148; above, the term &#147;business day&#148; means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notice of any redemption will be mailed at least 30 but not more
than 60 days before the redemption date to each holder of record of the notes to be redeemed at its registered address. The notice of redemption for the notes will state, among other things, the amount of notes to be redeemed, the redemption date,
the redemption price, the name and address of the paying agent and the CUSIP number. If less than all of the notes are to be redeemed at our option, the notes, or portions of the notes, to be redeemed, will be selected in accordance with the
procedures of DTC. Unless we default in the payment of the redemption price, interest will cease to accrue on any notes that have been called for redemption at the redemption date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We will not be required (i)&nbsp;to issue, register the transfer of or exchange any notes during a period beginning at the opening of business 30 days
immediately preceding the sending of a notice of redemption of notes selected for redemption and ending at the close of business on the day of such notice is sent (ii)&nbsp;to register the transfer of or exchange any notes between a record date and
the related interest payment date, or (iii)&nbsp;to register the transfer of or exchange any notes selected, called or being called for redemption in whole or in part. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The full defeasance and covenant defeasance provisions of the indenture described in the accompanying prospectus will apply to the notes. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Covenants Applicable to the Notes </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Limitation on
Liens </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The indenture provides that, so long as any notes are outstanding, neither we nor any of our principal subsidiaries may, directly or
indirectly, use any voting stock of a principal subsidiary as security for any of our debt or other obligations unless the notes are secured prior to, or to the same extent as that debt or other obligation. This restriction does not apply to liens
on voting stock existing at the time a corporation becomes our principal subsidiary or any renewal or extension of such existing liens and does not apply to shares of subsidiaries that are not &#147;principal subsidiaries.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The indenture defines &#147;principal subsidiaries&#148; as (1)&nbsp;any present or future subsidiary of Mercury General, the consolidated total assets or
revenues of which constitute at least 10% of our total consolidated assets or revenues; and (2)&nbsp;any person which is a successor, by merger or otherwise, to substantially all the business or properties of any subsidiary referred to or described
in clause (1). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Limitations on Disposition of Stock of Principal Subsidiaries </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The indenture also provides that we will not, and will not permit any of our subsidiaries to, issue, sell, assign, transfer or otherwise dispose of, directly
or indirectly, any of the common stock of our principal subsidiaries (except to us or to one or more of our other subsidiaries or for the purpose of qualifying directors), except for: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any issuance, sale, assignment, transfer or other disposition is required to comply with the order of a court or regulatory authority of competent jurisdiction, other than an order issued at our request or at the
request of one of our subsidiaries; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">all of the common stock of a principal subsidiary owned by us or by a principal subsidiary sold for cash or other property having a fair market value that is at least equal to the fair market value of the disposed
stock, as determined in good faith by our board of directors; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">after giving effect to the issuance, sale, assignment, transfer or other disposition, we and our subsidiaries would own directly or indirectly at least 80% of the issued and outstanding common stock of such principal
subsidiary and such issuance, sale, assignment, transfer or other disposition is made for consideration consisting of cash or other property which is at least equal to the fair value of such common stock. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mercury General may also merge or consolidate any principal subsidiary into or with another direct or indirect subsidiary of Mercury General, the shares of
capital stock of which Mercury General owns at least 80&nbsp;percent. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Events of Default </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to the description of events of default as described in the accompanying prospectus under &#147;Description of Debt Securities&#151;Events of
Default&#148; an &#147;Event of Default&#148; shall be included to mean, with respect to the notes, any of the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if any event of default under a mortgage, indenture or instrument under which we may issue, or by which Mercury General may secure or evidence, any indebtedness, including an event of default under any other series of
Mercury General debt securities, whether the indebtedness now exists or is later created or incurred, happens and consists of default in the payment of more than $25,000,000 in principal amount of indebtedness at the maturity of the indebtedness,
after giving effect to any applicable grace period, or results in the indebtedness in principal amount in excess of $25,000,000 becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and this
default is not cured or the acceleration is not rescinded or annulled within a period of 30 days after Mercury General received written notice; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Mercury General shall fail within 60 days to pay, bond or otherwise discharge any uninsured judgment or court order for the payment of money in excess of $25,000,000, which is not stayed on appeal or is not otherwise
being appropriately contested in good faith. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Modification and Waiver </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to changes to the indenture listed under &#147;Description of Debt Securities&#151;Modification and Waiver&#148; in the accompanying prospectus,
the following changes cannot be made without the consent of the holders of all of the notes then outstanding: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">change the place of payment; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">change in the redemption price; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">change in the Par Call Date to a date that is prior in time to the stated Par Call Date. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Book-Entry Delivery and Form </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes will be issued as global debt securities in &#147;book-entry&#148; form in minimum denominations of $2,000 and integral multiples of $1,000 in excess
thereof. See &#147;Global Securities&#151;Book-Entry, Delivery and Form&#148; in the accompanying prospectus. DTC will be the depositary with respect to the notes. The notes will be issued as fully registered securities in the name of
Cede&nbsp;&amp; Co., DTC&#146;s nominee, and will be deposited with, or on behalf of, DTC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap">Same-Day</FONT> Settlement
and Payment </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Settlement for the notes will be made by the underwriters in immediately available funds. All payments of principal and interest on the
notes will be made by us in immediately available funds. The notes will trade in DTC&#146;s settlement system until maturity, and secondary market trading activity in the notes therefore will be required by DTC to settle in immediately available
funds. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About the Trustee </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wilmington Trust, National
Association is acting as trustee under the indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to the provisions of the Trust Indenture Act of 1939, as amended, the trustee is under no
obligation to exercise any of its powers vested in it by the indenture at the request of any holder of the notes unless the holder offers the trustee indemnity or security reasonably satisfactory to it against the costs, expenses and liabilities
which might result. The trustee is not required to expend or risk its own funds or otherwise incur any financial liability in performing its duties if the trustee believes that it is not assured of repayment or adequate indemnity. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Applicable Law </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture and notes
offered for sale by this prospectus supplement will be governed by, and construed in accordance with, the laws of the State of New York, without regard to the conflicts of laws rules of such state. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_13"></A>MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following discussion is a summary of the material U.S. federal income tax consequences of the purchase, ownership and disposition of the notes issued
pursuant to this offering, but does not purport to be a complete analysis of all potential tax effects. The effects of other U.S. federal tax laws, such as estate and gift tax laws, and any applicable state, local or foreign tax laws are not
discussed. This discussion is based on the U.S. Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the U.S.
Internal Revenue Service (the &#147;IRS&#148;), in each case in effect as of the date hereof. These authorities may change or be subject to differing interpretations. Any such change or differing interpretation may be applied retroactively in a
manner that could adversely affect a holder of the notes. We have not sought and will not seek any rulings from the IRS regarding the matters discussed below. There can be no assurance the IRS or a court will not take a contrary position to that
discussed below regarding the tax consequences of the purchase, ownership and disposition of the notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This discussion is limited to holders who hold
the notes as &#147;capital assets&#148; within the meaning of Section&nbsp;1221 of the Code (generally, property held for investment). In addition, this discussion is limited to persons purchasing the notes for cash at original issue and at their
original &#147;issue price&#148; within the meaning of Section&nbsp;1273 of the Code (<I>i.e.</I>, the first price at which a substantial amount of the notes is sold to the public for cash). This discussion does not address all U.S. federal income
tax consequences relevant to a holder&#146;s particular circumstances, including the impact of the Medicare contribution tax on net investment income. In addition, it does not address consequences relevant to holders subject to special rules,
including, without limitation: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">U.S. expatriates and former citizens or long-term residents of the United States; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons subject to the alternative minimum tax; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">U.S. Holders (as defined below) whose functional currency is not the U.S. dollar; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons holding the notes as part of a hedge, straddle or other risk reduction strategy or as part of a conversion transaction or other integrated investment; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">banks, insurance companies, and other financial institutions; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">real estate investment trusts or regulated investment companies; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">brokers, dealers or traders in securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#147;controlled foreign corporations,&#148; &#147;passive foreign investment companies,&#148; and corporations that accumulate earnings to avoid U.S. federal income tax; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">S corporations, partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">tax-exempt</FONT> organizations or governmental organizations; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">persons deemed to sell the notes under the constructive sale provisions of the Code. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an entity treated as
a partnership for U.S. federal income tax purposes holds the notes, the tax treatment of a partner in the partnership will depend on the status of the partner, the activities of the partnership and certain determinations made at the partner level.
Accordingly, partnerships holding the notes and the partners in such partnerships should consult their tax advisors regarding the U.S. federal income tax consequences to them. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THIS DISCUSSION IS FOR INFORMATION PURPOSES ONLY AND IS NOT TAX ADVICE. INVESTORS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE APPLICATION OF THE
U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP AND DISPOSITION OF THE NOTES ARISING UNDER OTHER U.S. FEDERAL TAX LAWS (INCLUDING
</B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
ESTATE AND GIFT TAX LAWS), UNDER THE LAWS OF ANY STATE, LOCAL OR <FONT STYLE="white-space:nowrap">NON-U.S.</FONT> TAXING JURISDICTION OR UNDER ANY APPLICABLE TAX TREATY. </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tax Consequences Applicable to U.S. Holders </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Definition of a U.S. Holder </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of this
discussion, a &#147;U.S. Holder&#148; is a beneficial owner of a note that, for U.S. federal income tax purposes, is or is treated as: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an individual who is a citizen or resident of the United States; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a corporation created or organized under the laws of the United States, any state thereof, or the District of Columbia; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an estate, the income of which is subject to U.S. federal income tax regardless of its source; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a trust that (1)&nbsp;is subject to the primary supervision of a U.S. court and the control of one or more &#147;United States persons&#148; (within the meaning of Section 7701(a)(30) of the Code), or (2)&nbsp;has a
valid election in effect to be treated as a United States person for U.S. federal income tax purposes. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Payments of Interest
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest on a note generally will be taxable to a U.S. Holder as ordinary income at the time such interest is received or accrued, in accordance
with such U.S. Holder&#146;s method of tax accounting for U.S. federal income tax purposes. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Sale or Other Taxable Disposition </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A U.S. Holder will recognize gain or loss on the sale, exchange, redemption, retirement or other taxable disposition of a note. The amount of such gain or loss
will generally equal the difference between the amount received for the note in cash or other property valued at fair market value (less amounts attributable to any accrued but unpaid interest, which will be taxable as interest to the extent not
previously included in income) and the U.S. Holder&#146;s adjusted tax basis in the note. A U.S. Holder&#146;s adjusted tax basis in a note generally will be equal to the amount the U.S. Holder paid for the note. Any gain or loss will be capital
gain or loss, and will be long-term capital gain or loss if the U.S. Holder has held the note for more than one year at the time of sale or other taxable disposition. Otherwise, such gain or loss will be short-term capital gain or loss. Long-term
capital gains recognized by certain <FONT STYLE="white-space:nowrap">non-corporate</FONT> U.S. Holders, including individuals, generally will be taxable at a reduced rate. The deductibility of capital losses is subject to limitations. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information Reporting and Backup Withholding </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A
U.S. Holder may be subject to information reporting and backup withholding when such holder receives payments on a note or receives proceeds from the sale or other taxable disposition of a note (including a redemption or retirement of a note).
Certain U.S. Holders are exempt from backup withholding, including corporations and certain <FONT STYLE="white-space:nowrap">tax-exempt</FONT> organizations. A U.S. Holder will be subject to backup withholding if such holder is not otherwise exempt
and: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the holder fails to furnish the holder&#146;s taxpayer identification number, which for an individual is ordinarily his or her social security number; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the holder furnishes an incorrect taxpayer identification number; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the applicable withholding agent is notified by the IRS that the holder previously failed to properly report payments of interest or dividends; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the holder fails to certify under penalties of perjury that the holder has furnished a correct taxpayer identification number and that the IRS has not notified the holder that the holder is subject to backup
withholding. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules may be
allowed as a refund or a credit against a U.S. Holder&#146;s U.S. federal income tax liability, provided the required information is timely furnished to the IRS. U.S. Holders should consult their tax advisors regarding their qualification for an
exemption from backup withholding and the procedures for obtaining such an exemption. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tax Consequences Applicable to
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Definition of a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of this discussion, a <FONT STYLE="white-space:nowrap">&#147;Non-U.S.</FONT> Holder&#148; is a beneficial owner of a note that is neither a U.S.
Holder nor an entity treated as a partnership for U.S. federal income tax purposes. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Payments of Interest </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest paid on a note to a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder that is not effectively connected with the
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#146;s conduct of a trade or business within the United States generally will not be subject to U.S. federal income tax, or withholding tax of 30% (or such lower rate specified by an applicable
income tax treaty), provided that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder does not, actually or constructively, own 10% or more of the total combined voting power of all classes of our voting stock; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder is not a controlled foreign corporation related to us through actual or constructive stock ownership; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">either (1)&nbsp;the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder certifies in a statement provided to the applicable withholding agent under penalties of perjury that it is not a United States person and
provides its name and address; (2)&nbsp;a securities clearing organization, bank or other financial institution that holds customers&#146; securities in the ordinary course of its trade or business and holds the note on behalf of the <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holder certifies to the applicable withholding agent under penalties of perjury that it, or the financial institution between it and the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder, has received
from the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder a statement under penalties of perjury that such holder is not a United States person and provides a copy of such statement to the applicable withholding agent; or (3)&nbsp;the <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holder holds its note directly through a &#147;qualified intermediary&#148; (within the meaning of applicable Treasury Regulations) and certain conditions are satisfied. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder does not satisfy the requirements above, such <FONT STYLE="white-space:nowrap">Non-U.S.</FONT>
Holder may be entitled to a reduction in or an exemption from withholding on such interest as a result of an applicable tax treaty. To claim such entitlement, the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder must provide the applicable
withholding agent with a properly executed IRS Form <FONT STYLE="white-space:nowrap">W-8BEN</FONT> or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">W-8BEN-E</FONT></FONT> (or other applicable documentation) claiming a reduction
in or exemption from withholding tax under the benefit of an income tax treaty between the United States and the country in which the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder resides or is established. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If interest paid to a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder is effectively connected with the
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#146;s conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder maintains a
permanent establishment in the United States to which such interest is attributable), the <FONT STYLE="white-space:nowrap">Non-U.S.&nbsp;Holder</FONT> will be exempt from the U.S. federal withholding tax described above. To claim the exemption, the <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Holder must furnish to the applicable withholding agent a valid IRS Form <FONT STYLE="white-space:nowrap">W-8ECI,</FONT> certifying that interest paid on a note is not subject to withholding tax because it
is effectively connected with the conduct by the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder of a trade or business within the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any such effectively connected interest generally will be subject to U.S. federal income tax at the regular graduated rates. A
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such effectively connected interest, as
adjusted for certain items. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The certifications described above must be provided to the applicable withholding agent prior to the payment of
interest and must be updated periodically. <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders that do not timely provide the applicable withholding agent with the required certification, but that qualify for a reduced rate under an applicable
income tax treaty, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS. <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders should consult their tax advisors regarding their
entitlement to benefits under any applicable income tax treaty. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Sale or Other Taxable Disposition </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder will not be subject to U.S. federal income tax on any gain realized upon the sale, exchange,
redemption, retirement or other taxable disposition of a note (such amount excludes any amount allocable to accrued and unpaid interest, which generally will be treated as interest and may be subject to the rules discussed above in
&#147;&#151;Payments of Interest&#148;) unless: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the gain is effectively connected with the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#146;s conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the
<FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder maintains a permanent establishment in the United States to which such gain is attributable); or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of the disposition and certain other requirements
are met. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gain described in the first bullet point above generally will be subject to U.S. federal income tax on a net income basis at the
regular graduated rates. A <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder that is a foreign corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such
effectively connected gain, as adjusted for certain items. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gain described in the second bullet point above will be subject to U.S. federal income tax at
a rate of 30% (or such lower rate specified by an applicable income tax treaty), which may be offset by U.S. source capital losses of the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder (even though the individual is not considered a
resident of the United States), provided the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder has timely filed U.S. federal income tax returns with respect to such losses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holders should consult their tax advisors regarding any applicable income tax treaties that may provide for
different rules. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information Reporting and Backup Withholding </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payments of interest generally will not be subject to backup withholding, provided the applicable withholding agent does not have actual knowledge or reason to
know the <FONT STYLE="white-space:nowrap">Non-U.S,</FONT> Holder is a United States person and such holder certifies its <FONT STYLE="white-space:nowrap">non-U.S.</FONT> status as described above under &#147;&#151;Payments of Interest.&#148;
However, information returns are required to be filed with the IRS in connection with any interest paid to the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder, regardless of whether any tax was actually withheld. In addition, proceeds of the
sale or other taxable disposition of a note (including a retirement or redemption of the note) within the United States or conducted through certain U.S.-related brokers generally will not be subject to backup withholding or information reporting,
if the applicable withholding agent receives the statement described above and does not have actual knowledge or reason to know that such holder is a United States person or the holder otherwise establishes an exemption. Proceeds of a disposition of
a note paid outside the United States and conducted through a <FONT STYLE="white-space:nowrap">non-U.S.</FONT> office of a <FONT STYLE="white-space:nowrap">non-U.S.</FONT> broker generally will not be subject to backup withholding or information
reporting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Copies of information returns that are filed with the IRS may also be made available under the provisions of an applicable treaty or agreement
to the tax authorities of the country in which the <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder resides or is established. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Backup withholding
is not an additional tax. Any amounts withheld under the backup withholding rules may be allowed as a refund or a credit against a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Holder&#146;s U.S. federal income tax liability, provided the
required information is timely furnished to the IRS. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Withholding Tax on Payments Made to Foreign Accounts </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Withholding taxes may be imposed under Sections 1471 to 1474 of the Code (such Sections commonly referred to as the Foreign Account Tax Compliance Act, or
&#147;FATCA&#148;) on certain types of payments made to <FONT STYLE="white-space:nowrap">non-U.S.&nbsp;financial</FONT> institutions and certain other <FONT STYLE="white-space:nowrap">non-U.S.</FONT> entities. Specifically, a 30% withholding tax may
be imposed on payments of interest on, or gross proceeds from the sale or other disposition of, a note paid to a &#147;foreign financial institution&#148; or a <FONT STYLE="white-space:nowrap">&#147;non-financial</FONT> foreign entity&#148; (each as
defined in the Code), unless (1)&nbsp;the foreign financial institution undertakes certain diligence and reporting obligations, (2)&nbsp;the <FONT STYLE="white-space:nowrap">non-financial</FONT> foreign entity either certifies it does not have any
&#147;substantial United States owners&#148; (as defined in the Code) or furnishes identifying information regarding each substantial United States owner, or (3)&nbsp;the foreign financial institution or
<FONT STYLE="white-space:nowrap">non-financial</FONT> foreign entity otherwise qualifies for an exemption from these rules. If the payee is a foreign financial institution and is subject to the diligence and reporting requirements in (1)&nbsp;above,
it must enter into an agreement with the U.S. Department of the Treasury requiring, among other things, that it undertake to identify accounts held by certain &#147;specified United States persons&#148; or &#147;United States-owned foreign
entities&#148; (each as defined in the Code), annually report certain information about such accounts, and withhold 30% on certain payments to <FONT STYLE="white-space:nowrap">non-compliant</FONT> foreign financial institutions and certain other
account holders. Foreign financial institutions located in jurisdictions that have an intergovernmental agreement with the United States governing FATCA may be subject to different rules. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the applicable Treasury Regulations and administrative guidance, withholding under FATCA generally applies to payments of interest on a note, and will
apply to payments of gross proceeds from the sale or other disposition of a note on or after January&nbsp;1, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prospective investors should consult
their tax advisors regarding the potential application of withholding under FATCA to their investment in the notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_14"></A>UNDERWRITING (CONFLICTS OF INTEREST) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We and the underwriters named below, for whom Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated and Wells Fargo Securities, LLC are acting as the
representatives, have entered into an underwriting agreement dated the date of this prospectus supplement with respect to the notes. Subject to certain terms and conditions in the underwriting agreement, we have agreed to sell and each underwriter
named below has severally agreed to purchase the principal amount of notes set forth opposite its name in the following table. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:46.20pt; font-size:8pt; font-family:Times New Roman"><B>Underwriters</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Principal&nbsp;Amount<BR>of&nbsp;Notes</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.20em; text-indent:-5.20em; font-size:10pt; font-family:Times New Roman">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith<BR>Incorporated</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">281,250,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">375,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The underwriters are committed to take and pay for all of the notes being offered, if any are taken. If an underwriter
defaults, the underwriting agreement provides that the purchase commitments of the nondefaulting underwriters may be increased or the underwriting agreement may be terminated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notes sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover of this prospectus
supplement. Any notes sold by the underwriters to securities dealers may be sold at a discount from the initial public offering price of up to 0.400% of the principal amount of notes. Any such securities dealers may resell any notes purchased from
the underwriters to certain other brokers or dealers at a discount from the initial public offering price of up to 0.250% principal amount of notes. If all the notes are not sold at the initial offering price, the underwriters may change the
offering price and the other selling terms. This offering of the notes by the underwriters is subject to receipt and acceptance and subject to the underwriters&#146; right to reject any order in whole or in part. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes are a new issue of securities with no established trading market. We do not intend to list the notes on any securities exchange or have them
included in any automated quotation system. We have been advised by the underwriters that the underwriters intend to make a market in the notes but are not obligated to do so and may discontinue market making at any time without notice. We cannot
assure you that an active trading market will be available for the notes or that you will be able to sell your notes at the price you originally paid for them or at the time you wish to sell them. Future trading prices of the notes will depend on
many factors including, among other things, prevailing interest rates, our operating results and the market for similar securities. Generally, the liquidity of, and trading market for, the notes may also be materially and adversely affected by
declines in the market for similar debt securities. Such a decline may materially and adversely affect such liquidity and trading independent of our financial performance and prospects. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with this offering, the underwriters may purchase and sell notes in the open market. These transactions may include short sales, stabilizing
transactions and purchases to cover positions created by short </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
sales. Short sales involve the sale by the underwriters of a greater number of notes than they are required to purchase in this offering. The underwriters must close out any short position by
purchasing notes in the open market. A short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of the notes in the open market after pricing that could adversely affect investors
who purchase in this offering. Stabilizing transactions consist of certain bids or purchases made for the purpose of preventing or retarding a decline in the market price of the notes while this offering is in progress. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These activities by the underwriters, as well as other purchases by the underwriters for their own accounts, may stabilize, maintain or otherwise affect the
market price of the notes. As a result, the price of the notes may be higher than the price that otherwise might exist in the open market. If these activities are commenced, they may be discontinued by the underwriters at any time. These
transactions may be effected in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We estimate that the total expenses of this offering, excluding the underwriting discount, will be approximately $0.75&nbsp;million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have agreed to indemnify the several underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended, or to
contribute to payments which the underwriters may be required to make in respect of such liabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Some of the underwriters and their affiliates have
engaged in, and may in the future engage in, commercial and investment banking and other commercial dealings in the ordinary course of business with us or our affiliates. They have received, or may in the future receive, customary fees and
commissions for these transactions. Certain of the underwriters and their affiliates are lenders, arrangers or book managers under the Credit Facilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad array of investments and
actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities may involve
securities and/or instruments of ours or our affiliates. Certain of the underwriters or their affiliates that have a lending relationship with us routinely hedge their credit exposure to us consistent with their customary risk management policies.
Such underwriters and their affiliates may hedge such exposure by entering into transactions which consist of either the purchase of credit default swaps or the creation of short positions in our securities, including potentially the notes offered
hereby. Any such credit default swaps or short positions could adversely affect future trading prices of the notes offered hereby. The underwriters and their affiliates may also make investment recommendations and/or publish or express independent
research views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We expect to deliver the notes against payment for the notes on or about the date specified in the last paragraph of the cover page of this prospectus
supplement, which will be the fifth business day following the date of the pricing of the notes (&#147;T+5&#148;). Under Rule <FONT STYLE="white-space:nowrap">15c6-1</FONT> of the Exchange Act, trades in the secondary market generally are required
to settle in three business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes on the date of pricing or the next succeeding business day will be required, by virtue of the fact that the
notes initially will settle in T+5, to specify alternative settlement arrangements to prevent a failed settlement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Conflicts of Interest and
Relationships </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As described in this prospectus supplement under &#147;Use of Proceeds,&#148; net proceeds of this offering will be applied to reduce or
retire the balance of the existing debt under the Credit Facilities and the Union Bank Facility. To the extent that net proceeds from this offering are applied to reduce or retire the balance of the existing debt under the Credit Facilities held by
any of the underwriters or their affiliates, they will receive proceeds of this offering </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
through the repayment of that indebtedness. If 5% or more of the net proceeds of this offering (not including underwriting discounts) is used to reduce or retire the balance of the existing debt
under the Credit Facilities held by at least one of the underwriters or its affiliates, this offering will be conducted in accordance with FINRA Rule 5121. In such event, such underwriter or underwriters will not confirm sales of the notes to
accounts over which they exercise discretionary authority without the prior written approval of the customer. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Canada </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes may be sold only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument <FONT
STYLE="white-space:nowrap">45-106</FONT> <I>Prospectus</I> <I>Exemptions</I> or subsection 73.3(1) of the <I>Securities</I> <I>Act</I> (Ontario), and are permitted clients, as defined in National Instrument
<FONT STYLE="white-space:nowrap">31-103</FONT> <I>Registration</I> <I>Requirements</I>, <I>Exemptions</I> <I>and</I> <I>Ongoing</I> <I>Registrant</I> <I>Obligations</I>. Any resale of the notes must be made in accordance with an exemption from, or
in a transaction not subject to, the prospectus requirements of applicable securities laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities legislation in certain provinces or territories of
Canada may provide a purchaser with remedies for rescission or damages if this prospectus supplement (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser
within the time limit prescribed by the securities legislation of the purchaser&#146;s province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser&#146;s province or territory for
particulars of these rights or consult with a legal advisor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to section 3A.3 of National Instrument
<FONT STYLE="white-space:nowrap">33-105</FONT> <I>Underwriting</I> <I>Conflicts</I> <FONT STYLE="white-space:nowrap">(&#147;33-105&#148;)</FONT> the underwriters are not required to comply with the disclosure requirements of NI <FONT
STYLE="white-space:nowrap">33-105</FONT> regarding underwriter conflicts of interest in connection with this offering. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>European Economic Area </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (each, a &#147;Relevant Member State&#148;), with
effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State, no offer of notes which are the subject of the offering contemplated by this prospectus supplement and the accompanying Prospectus to
the public may be made in that Relevant Member State other than: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">to any legal entity which is a qualified investor as defined in the Prospectus Directive; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">to fewer than 150 natural or legal persons (other than qualified investors as defined in the Prospectus Directive), subject to obtaining the prior consent of the relevant underwriter or underwriters nominated by Mercury
General for any such offer; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">in any other circumstances falling within Article 3(2) of the Prospectus Directive, </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">provided that no such
offer of notes shall require Mercury General or any underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Directive. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the
purposes of this provision, the expression an &#147;offer of notes to the public&#148; in relation to any notes in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and
the notes to be offered so as to enable an investor to decide to purchase or subscribe for the notes, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression
&#147;Prospectus Directive&#148; means Directive 2003/71/EC (as amended, including by Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>United Kingdom </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any invitation or inducement to engage in investment activity (within the meaning of Section&nbsp;21 of the FSMA) in connection with the issue or sale of the
notes may only be communicated or caused to be communicated in circumstances in which Section&nbsp;21(1) of the FSMA does not apply to Mercury General. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All applicable provisions of the FSMA must be complied with in respect to anything done by any person in relation to the notes in, from or otherwise involving
the United Kingdom. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Hong Kong </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes may not be
offered or sold by means of any document other than: (i)&nbsp;in circumstances which do not constitute an offer to the public within the meaning of the Companies Ordinance (Cap.32, Laws of Hong Kong), or (ii)&nbsp;to &#147;professional
investors&#148; within the meaning of the Securities and Futures Ordinance (Cap.571, Laws of Hong Kong) and any rules made thereunder, or (iii)&nbsp;in other circumstances which do not result in the document being a &#147;prospectus&#148; within the
meaning of the Companies Ordinance (Cap.32, Laws of Hong Kong), and no advertisement, invitation or document relating to the notes may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong or
elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under the laws of Hong Kong) other than with respect to the notes which are or are intended to be
disposed of only to persons outside Hong Kong or only to &#147;professional investors&#148; within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Japan </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes have not been and will not be registered
under the Financial Instruments and Exchange Law of Japan (the &#147;Financial Instruments and Exchange Law&#148;) and each underwriter has agreed that it will not offer or sell any notes, directly or indirectly, in Japan or to, or for the benefit
of, any resident of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under the laws of Japan), or to others for <FONT STYLE="white-space:nowrap">re-offering</FONT> or resale,
directly or indirectly, in Japan or to a resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the Financial Instruments and Exchange Law and any other applicable laws,
regulations and ministerial guidelines of Japan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Singapore </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This prospectus supplement and the accompanying prospectus have not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this
prospectus supplement and the accompanying prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the notes may not be circulated or distributed, nor may the notes be
offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than: (i)&nbsp;to an institutional investor under Section&nbsp;274 of the Securities and Futures
Act, Chapter 289 of Singapore (the &#147;SFA&#148;), (ii) to a relevant person, or any person pursuant to Section 275(1A), and in accordance with the conditions, specified in Section&nbsp;275 of the SFA or (iii)&nbsp;otherwise pursuant to, and in
accordance with the conditions of, any other applicable provision of the SFA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Where the notes are subscribed or purchased under
Section&nbsp;275 by a relevant person which is: (i)&nbsp;a corporation (which is not an accredited investor) the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is
an accredited investor or (ii)&nbsp;a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary is an accredited investor, shares, notes and units of shares and notes of that corporation
or the beneficiaries&#146; rights and interest in that trust shall not be transferable for 6 months after that corporation or that trust has acquired the notes under Section&nbsp;275 except: (a)&nbsp;to an institutional investor under
Section&nbsp;274 of the SFA or to a relevant person, or any person pursuant to Section 275(1A), and in accordance with the conditions, specified in Section&nbsp;275 of the SFA, (b)&nbsp;where no consideration is given for the transfer or (c)&nbsp;by
operation of law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>South Korea </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes have not been and will not be registered under the Financial Investments Services and Capital Markets Act of Korea and the decrees and regulations
thereunder (the &#147;FSCMA&#148;) and the notes have been and will be offered in Korea as a private placement under the FSCMA. None of the notes may be offered, sold and delivered directly or indirectly, or offered or sold to any person for <FONT
STYLE="white-space:nowrap">re-offering</FONT> or resale, directly or indirectly, in Korea or to any resident of Korea except pursuant to the applicable laws and regulations of Korea, including the FSCMA and the Foreign Exchange Transaction Law of
Korea and the decrees and regulations thereunder (the &#147;FETL&#148;). For a period of one year from the issue date of the notes, any acquirer of the notes who was solicited to buy the notes in Korea is prohibited from transferring any of the
notes to another person in any way other than as a whole to one transferee. Furthermore, the purchaser of the notes shall comply with all applicable regulatory requirements (including but not limited to requirements under the FETL) in connection
with the purchase of the notes. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Taiwan </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The notes
may be made available for purchase outside Taiwan by investors residing in Taiwan (either directly or through properly licensed Taiwan intermediaries acting on behalf of such investors) but may not be offered or sold in Taiwan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_15"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Latham&nbsp;&amp; Watkins LLP, Los Angeles, California, will pass upon certain matters relating to this offering for us. Sidley Austin LLP,
New York, New York, will act as counsel to the underwriters. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="suprom280832_16"></A>EXPERTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consolidated financial statements and schedules of Mercury General Corporation and Subsidiaries as of December&nbsp;31, 2016 and 2015, and
for each of the years in the three-year period ended December&nbsp;31, 2016, and management&#146;s assessment of the effectiveness of internal control over financial reporting as of December&nbsp;31, 2016 have been incorporated by reference herein
in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROSPECTUS </B></P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g280832g21f25.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>MERCURY GENERAL CORPORATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Debt Securities </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may offer
and sell the securities identified above from time to time in one or more offerings. This prospectus provides you with a general description of the securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time we offer and sell securities, we will provide a supplement to this prospectus that contains specific information about the offering
and the amounts, prices and terms of the securities. The supplement may also add, update or change information contained in this prospectus with respect to that offering. You should carefully read this prospectus and the applicable prospectus
supplement before you invest in any of our securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may offer and sell the securities described in this prospectus and any
prospectus supplement to or through one or more underwriters, dealers and agents, or directly to purchasers, or through a combination of these methods. If any underwriters, dealers or agents are involved in the sale of any of the securities, their
names and any applicable purchase price, fee, commission or discount arrangement between or among them will be set forth, or will be calculable from the information set forth, in the applicable prospectus supplement. See the sections of this
prospectus entitled &#147;About this Prospectus&#148; and &#147;Plan of Distribution&#148; for more information. No securities may be sold without delivery of this prospectus and the applicable prospectus supplement describing the method and terms
of the offering of such securities. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:12pt; font-family:Times New Roman"><B>INVESTING IN OUR SECURITIES INVOLVES RISKS. SEE THE &#147;<U><A HREF="#toc319229_4">RISK&nbsp;FACTORS</A></U>&#148; ON PAGE 5 OF THIS
PROSPECTUS AND ANY SIMILAR SECTION CONTAINED IN THE APPLICABLE PROSPECTUS SUPPLEMENT CONCERNING FACTORS YOU SHOULD CONSIDER BEFORE INVESTING IN OUR SECURITIES. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our common stock is listed on the New York Stock Exchange under the symbol &#147;MCY.&#148; On December&nbsp;27, 2016, the last reported sale
price of our common stock on the New York Stock Exchange was $60.35 per share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Neither the Securities and Exchange Commission nor any
state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The date of this prospectus is December 28, 2016. </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_2">WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY
REFERENCE</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_3">THE COMPANY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_4">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_5">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_6">RATIO OF EARNINGS TO FIXED CHARGES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_7">DESCRIPTION OF DEBT SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_8">GLOBAL SECURITIES</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_9">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_10">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc319229_11">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_1"></A>ABOUT THIS PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus is part of a registration statement that we filed with the U.S. Securities and Exchange Commission, or the SEC, as a
&#147;well-known seasoned issuer&#148; as defined in Rule 405 under the Securities Act of 1933, as amended, using a &#147;shelf&#148; registration process. By using a shelf registration statement, we may sell securities from time to time and in one
or more offerings as described in this prospectus. Each time that we offer and sell securities, we will provide a prospectus supplement to this prospectus that contains specific information about the securities being offered and sold and the
specific terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to these offerings. The prospectus supplement may also add, update or change
information contained in this prospectus with respect to that offering. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement, you should rely on the prospectus supplement. Before
purchasing any securities, you should carefully read both this prospectus and the applicable prospectus supplement, together with the additional information described under the heading &#147;Where You Can Find More Information; Incorporation by
Reference.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have not authorized anyone to provide you with any information or to make any representations other than those
contained in this prospectus, any applicable prospectus supplement or any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance as to the reliability
of, any other information that others may give you. We will not make an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus and the
applicable prospectus supplement to this prospectus is accurate as of the date on its respective cover, and that any information incorporated by reference is accurate only as of the date of the document incorporated by reference, unless we indicate
otherwise. Our business, financial condition, results of operations and prospects may have changed since those dates. This prospectus incorporates by reference, and any prospectus supplement or free writing prospectus may contain and incorporate by
reference, market data and industry statistics and forecasts that are based on independent industry publications and other publicly available information. Although we believe these sources are reliable, we do not guarantee the accuracy or
completeness of this information and we have not independently verified this information. Although we are not aware of any misstatements regarding the market and industry data presented in this prospectus and the documents incorporated herein by
reference, these estimates involve risks and uncertainties and are subject to change based on various factors, including those discussed under the heading &#147;Risk Factors&#148; contained in this prospectus, the applicable prospectus supplement
and any related free writing prospectus, and under similar headings in other documents that are incorporated by reference into this prospectus. Accordingly, investors should not place undue reliance on this information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">When we refer to &#147;Mercury General,&#148; &#147;we,&#148; &#147;our,&#148; &#147;us&#148; and the &#147;Company&#148; in this prospectus,
we mean Mercury General Corporation and its consolidated subsidiaries, unless otherwise specified. When we refer to &#147;you,&#148; we mean the holders of the applicable series of securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_2"></A>WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Available Information </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We file
reports, proxy statements and other information with the SEC. Information filed with the SEC by us can be inspected and copied at the Public Reference Room maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may also obtain
copies of this information by mail from the Public Reference Room of the SEC at prescribed rates. Further information on the operation of the SEC&#146;s Public Reference Room in Washington, D.C. can be obtained by calling the SEC at 1-800-SEC-0330.
The SEC also maintains a web site that contains reports, proxy and information statements and other information about issuers, such as us, who file electronically with the SEC. The address of that website is <I>http://www.sec.gov</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our website address is <I>http://www.mercuryinsurance.com</I>. The information on our web site, however, is not, and should not be deemed to
be, a part of this prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus and any prospectus supplement are part of a registration statement that we filed with the
SEC and do not contain all of the information in the registration statement. The full registration statement may be obtained from the SEC or us, as provided below. Forms of the indenture and other documents establishing the terms of the offered
securities are or may be filed as exhibits to the registration statement. Statements in this prospectus or any prospectus supplement about these documents are summaries and each statement is qualified in all respects by reference to the document to
which it refers. You should refer to the actual documents for a more complete description of the relevant matters. You may inspect a copy of the registration statement at the SEC&#146;s Public Reference Room in Washington, D.C. or through the
SEC&#146;s website, as provided above. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Incorporation by Reference </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The SEC&#146;s rules allow us to &#147;incorporate by reference&#148; information into this prospectus, which means that we can disclose
important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, and subsequent information that we file with the SEC will
automatically update and supersede that information. Any statement contained in a previously filed document incorporated by reference will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement
contained in this prospectus modifies or replaces that statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We incorporate by reference our documents listed below and any future
filings made by us with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, which we refer to as the &#147;Exchange Act&#148; in this prospectus, between the date of this prospectus and the
termination of the offering of the securities described in this prospectus. We are not, however, incorporating by reference any documents or portions thereof, whether specifically listed below or filed in the future, that are not deemed
&#147;filed&#148; with the SEC, including our Compensation Committee report and performance graph or any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K or related exhibits furnished pursuant to Item&nbsp;9.01 of Form 8-K. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus and any accompanying prospectus supplement incorporate by reference the documents set forth below that have previously been
filed with the SEC: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Annual Report on Form 10-K for the year ended December&nbsp;31, 2015, filed with the SEC on February&nbsp;9, 2016. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Quarterly Reports on Form 10-Q for the quarters ended March&nbsp;31, 2016,&nbsp;June&nbsp;30, 2016 and September&nbsp;30, 2016, filed with the SEC on May&nbsp;3, 2016,&nbsp;August&nbsp;2, 2016 and November&nbsp;1,
2016, respectively. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Definitive Proxy Statement on Schedule 14A filed with the SEC on April&nbsp;1, 2016. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Our Current Reports on Form 8-K filed with the SEC on February&nbsp;24, 2016,&nbsp;March&nbsp;23, 2016,&nbsp;May&nbsp;2, 2016 (with respect to Item&nbsp;2.05 only), May&nbsp;12, 2016 and August&nbsp;16, 2016.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All reports and other documents we subsequently file pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act
prior to the termination of this offering, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference into this prospectus and deemed to be part of this prospectus from the date of the filing
of such reports and documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You may request a free copy of any of the documents incorporated by reference in this prospectus (other
than exhibits, unless they are specifically incorporated by reference in the documents) by writing or telephoning us at the following address: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Mercury General Corporation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4484
Wilshire Boulevard </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Los Angeles, California 90010 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(323) 937-1060 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Exhibits to the
filings will not be sent, however, unless those exhibits have specifically been incorporated by reference in this prospectus and any accompanying prospectus supplement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_3"></A>THE COMPANY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mercury General and its subsidiaries are primarily engaged in writing personal automobile insurance through 14 insurance subsidiaries in 11
states, principally California. Mercury General also writes homeowners, commercial automobile, commercial property, mechanical breakdown, and umbrella insurance. These policies are mostly sold through independent agents who receive a commission for
selling policies. The Company believes that it has thorough underwriting and claims handling processes that, together with its agent relationships, provide the Company with competitive advantages. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We filed our certificate of incorporation with the Secretary of State of California on December&nbsp;27, 1960. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our principal executive offices are located at 4484 Wilshire Boulevard, Los Angeles, California 90010, and our telephone number is
(323)&nbsp;937-1060. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_4"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Investment in any securities offered pursuant to this prospectus and the applicable prospectus supplement involves risks. You should carefully
consider the risk factors incorporated by reference to our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form&nbsp;8-K we file after the date of this prospectus, and all other
information contained or incorporated by reference into this prospectus, as updated by our subsequent filings under the Exchange Act, and the risk factors and other information contained in the applicable prospectus supplement before acquiring any
of such securities. The occurrence of any of these risks might cause you to lose all or part of your investment in the offered securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_5"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We intend to use the net proceeds from the sale of the securities as set forth in the applicable prospectus supplement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_6"></A>RATIO OF EARNINGS TO FIXED CHARGES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets forth the historical ratios of earnings to fixed charges for Mercury General and its consolidated subsidiaries for
the periods indicated. For purposes of computing the following ratios, earnings consist of income from continuing operations before income taxes plus fixed charges to the extent that such charges are included in the determination of earnings. Fixed
charges consist of interest expense, including amortization of premiums, discounts and debt issuance costs, the interest component of rental expense (for this calculation, 33.3% represents a reasonable approximation of the interest factor) and
estimated interest on uncertain tax positions. A computation of the ratio of earnings to fixed charges will be included as an exhibit to the registration statement of which this prospectus is a part. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Nine Months<BR>Ended<BR>September&nbsp;30,</B><br><B>2016</B></TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2015</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2011</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratio of earnings to fixed charges</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9.3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17.4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21.8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_7"></A>DESCRIPTION OF DEBT SECURITIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following description, together with the additional information we include in any applicable prospectus supplement, summarizes certain
general terms and provisions of the debt securities that we may offer under this prospectus. When we offer to sell a particular series of debt securities, we will describe the specific terms of the series in a supplement to this prospectus. We will
also indicate in the supplement to what extent the general terms and provisions described in this prospectus apply to a particular series of debt securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may issue debt securities either separately, or together with, or upon the conversion or exercise of or in exchange for, other securities
described in this prospectus. Debt securities may be our senior, senior subordinated or subordinated obligations and, unless otherwise specified in a supplement to this prospectus, the debt securities will be our direct, unsecured obligations and
may be issued in one or more series. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The debt securities will be issued under an indenture between us and Wilmington Trust, National
Association, as trustee. We have summarized select portions of the indenture below. The summary is not complete. The form of the indenture has been filed as an exhibit to the registration statement and you should read the indenture for provisions
that may be important to you. In the summary below, we have included references to the section numbers of the indenture so that you can easily locate these provisions. Capitalized terms used in the summary and not defined herein have the meanings
specified in the indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As used in this section only, &#147;Mercury General,&#148; &#147;we,&#148; &#147;our&#148; or &#147;us&#148;
refer to Mercury General Corporation excluding our subsidiaries, unless expressly stated or the context otherwise requires. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>General </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The terms of each series of debt securities will be established by or pursuant to a resolution of our board of directors and set forth or
determined in the manner provided in a resolution of our board of directors, in an officer&#146;s certificate or by a supplemental indenture. The particular terms of each series of debt securities will be described in a prospectus supplement
relating to such series (including any pricing supplement or term sheet). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We can issue an unlimited amount of debt securities under the
indenture that may be in one or more series with the same or various maturities, at par, at a premium, or at a discount. We will set forth in a prospectus supplement (including any pricing supplement or term sheet) relating to any series of debt
securities being offered, the aggregate principal amount and the following terms of the debt securities, if applicable: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the title and ranking of the debt securities (including the terms of any subordination provisions); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the price or prices (expressed as a percentage of the principal amount) at which we will sell the debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any limit on the aggregate principal amount of the debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the date or dates on which the principal of the securities of the series is payable; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the rate or rates (which may be fixed or variable) per annum or the method used to determine the rate or rates (including any commodity, commodity index, stock exchange index or financial index) at which the debt
securities will bear interest, the date or dates from which interest will accrue, the date or dates on which interest will commence and be payable and any regular record date for the interest payable on any interest payment date; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the place or places where principal of, and interest, if any, on the debt securities will be payable (and the method of such payment), where the securities of such series may be surrendered for registration of transfer
or exchange, and where notices and demands to us in respect of the debt securities may be delivered; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the period or periods within which, the price or prices at which and the terms and conditions upon which we may redeem the debt securities; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any obligation we have to redeem or purchase the debt securities pursuant to any sinking fund or analogous provisions or at the option of a holder of debt securities and the period or periods within which, the price or
prices at which and in the terms and conditions upon which securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the dates on which and the price or prices at which we will repurchase debt securities at the option of the holders of debt securities and other detailed terms and provisions of these repurchase obligations;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the minimum denominations in which the debt securities will be issued, if other than minimum denominations of $1,000 and any integral multiple in excess thereof; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether the debt securities will be issued in the form of certificated debt securities or global debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the portion of principal amount of the debt securities payable upon declaration of acceleration of the maturity date, if other than the principal amount; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the currency of denomination of the debt securities, which may be United States Dollars or any foreign currency, and if such currency of denomination is a composite currency, the agency or organization, if any,
responsible for overseeing such composite currency; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the designation of the currency, currencies or currency units in which payment of principal of, premium, if any, and interest on the debt securities will be made; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">if payments of principal of, premium, if any, or interest on the debt securities will be made in one or more currencies or currency units other than that or those in which the debt securities are denominated, the manner
in which the exchange rate with respect to these payments will be determined; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the manner in which the amounts of payment of principal of, premium, if any, or interest on the debt securities will be determined, if these amounts may be determined by reference to an index based on a currency or
currencies or by reference to a commodity, commodity index, stock exchange index or financial index; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any provisions relating to any security provided for the debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any addition to, deletion of or change in the Events of Default described in this prospectus or in the indenture with respect to the debt securities and any change in the acceleration provisions described in this
prospectus or in the indenture with respect to the debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any addition to, deletion of or change in the covenants described in this prospectus or in the indenture with respect to the debt securities; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to the debt securities; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the provisions, if any, relating to conversion or exchange of any debt securities of such series, including if applicable, the conversion or exchange price and period, provisions as to whether conversion or exchange
will be mandatory, the events requiring an adjustment of the conversion or exchange price and provisions affecting conversion or exchange; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any other terms of the debt securities, which may supplement, modify or delete any provision of the indenture as it applies to that series, including any terms that may be required under applicable law or regulations or
advisable in connection with the marketing of the securities; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whether any of our direct or indirect subsidiaries will guarantee the debt securities of that series, including the terms of subordination, if any, of such guarantees. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may issue debt securities that provide for an amount less than their stated principal amount to be due and payable upon declaration of
acceleration of their maturity pursuant to the terms of the indenture. We will provide you with information on the federal income tax considerations and other special considerations applicable to any of these debt securities in the applicable
prospectus supplement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we denominate the purchase price of any of the debt securities in a foreign currency or
currencies or a foreign currency unit or units, or if the principal of and any premium and interest on any series of debt securities is payable in a foreign currency or currencies or a foreign currency unit or units, we will provide you with
information on the restrictions, elections, general tax considerations, specific terms and other information with respect to that issue of debt securities and such foreign currency or currencies or foreign currency unit or units in the applicable
prospectus supplement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Transfer and Exchange </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each debt security will be represented by either one or more global securities registered in the name of The Depository Trust Company, or the
Depositary, or a nominee of the Depositary (we will refer to any debt security represented by a global debt security as a &#147;book-entry debt security&#148;), or a certificate issued in definitive registered form (we will refer to any debt
security represented by a certificated security as a &#147;certificated debt security&#148;) as set forth in the applicable prospectus supplement. Except as set forth under the heading &#147;Global Debt Securities and Book-Entry System&#148; below,
book-entry debt securities will not be issuable in certificated form. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certificated Debt Securities. You may transfer or exchange
certificated debt securities at any office we maintain for this purpose in accordance with the terms of the indenture. No service charge will be made for any transfer or exchange of certificated debt securities, but we may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection with a transfer or exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You may effect the transfer
of certificated debt securities and the right to receive the principal of, premium and interest on certificated debt securities only by surrendering the certificate representing those certificated debt securities and either reissuance by us or the
trustee of the certificate to the new holder or the issuance by us or the trustee of a new certificate to the new holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Global Debt
Securities and Book-Entry System. Each global debt security representing book-entry debt securities will be deposited with, or on behalf of, the Depositary, and registered in the name of the Depositary or a nominee of the Depositary. Please see
&#147;Global Securities.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Covenants </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will set forth in the applicable prospectus supplement any restrictive covenants applicable to any issue of debt securities. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Protection in the Event of a Change of Control </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unless we state otherwise in the applicable prospectus supplement, the debt securities will not contain any provisions which may afford holders
of the debt securities protection in the event we have a change in control or in the event of a highly leveraged transaction (whether or not such transaction results in a change in control) which could adversely affect holders of debt securities.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Consolidation, Merger and Sale of Assets </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of our properties and assets to any
person (a &#147;successor person&#148;) unless: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">we are the surviving corporation or the successor person (if other than Mercury General) is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes our
obligations on the debt securities and under the indenture; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the above, any of our subsidiaries may consolidate with, merge into or transfer
all or part of its properties to us. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Events of Default </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;Event of Default&#148; means with respect to any series of debt securities, any of the following: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">default in the payment of any interest upon any debt security of that series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire amount of the payment is deposited
by us with the trustee or with a paying agent prior to the expiration of the 30-day period); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">default in the payment of principal of any security of that series at its maturity; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">default in the performance or breach of any other covenant or warranty by us in the indenture (other than a covenant or warranty that has been included in the indenture solely for the benefit of a series of debt
securities other than that series), which default continues uncured for a period of 60 days after we receive written notice from the trustee or Mercury General and the trustee receive written notice from the holders of not less than 25% in principal
amount of the outstanding debt securities of that series as provided in the indenture; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">certain voluntary or involuntary events of bankruptcy, insolvency or reorganization of Mercury General; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any other Event of Default provided with respect to debt securities of that series that is described in the applicable prospectus supplement. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Event of Default with respect to a particular series of debt securities (except as to certain events of bankruptcy, insolvency or
reorganization) necessarily constitutes an Event of Default with respect to any other series of debt securities. The occurrence of certain Events of Default or an acceleration under the indenture may constitute an event of default under certain
indebtedness of ours or our subsidiaries outstanding from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will provide the trustee written notice of any Default or
Event of Default within 30 days of becoming aware of the occurrence of such Default or Event of Default, which notice will describe in reasonable detail the status of such Default or Event of Default and what action we are taking or propose to take
in respect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If an Event of Default with respect to debt securities of any series at the time outstanding occurs and is
continuing, then the trustee or the holders of not less than 25% in principal amount of the outstanding debt securities of that series may, by a notice in writing to us (and a copy to the trustee if given by the holders), declare to be due and
payable immediately the principal of (or, if the debt securities of that series are discount securities, that portion of the principal amount as may be specified in the terms of that series) and accrued and unpaid interest, if any, on all debt
securities of that series. In the case of an Event of Default resulting from certain events of bankruptcy, insolvency or reorganization, the principal (or such specified amount) of and accrued and unpaid interest, if any, on all outstanding debt
securities will become and be immediately due and payable without any declaration or other act on the part of the trustee or any holder of outstanding debt securities. At any time after a declaration of acceleration with respect to debt securities
of any series has been made, but before a judgment or decree for payment of the money due has been obtained by the trustee, the holders of a majority in principal amount of the outstanding debt securities of that series may rescind and annul the
acceleration if all Events of Default, other than the non-payment of accelerated principal and interest, if any, with respect to debt securities of that series, have been cured or waived as provided in the indenture. We refer you to the prospectus
supplement relating to any series of debt securities that are discount securities for the particular provisions relating to acceleration of a portion of the principal amount of such discount securities upon the occurrence of an Event of Default.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture provides that the trustee may refuse to perform any duty or exercise any of its
rights or powers under the indenture unless the trustee receives indemnity or security satisfactory to it against any cost, liability or expense which might be incurred by it in performing such duty or exercising such right or power. Subject to
certain rights of the trustee, the holders of a majority in principal amount of the outstanding debt securities of any series will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the
trustee or exercising any trust or power conferred on the trustee with respect to the debt securities of that series. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No holder of any
debt security of any series will have any right to institute any proceeding, judicial or otherwise, with respect to the indenture or for the appointment of a receiver or trustee, or for any remedy under the indenture, unless: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">that holder has previously given to the trustee written notice of a continuing Event of Default with respect to debt securities of that series; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the holders of not less than 25% in principal amount of the outstanding debt securities of that series have made written request, and offered indemnity or security satisfactory to the trustee, to the trustee to
institute the proceeding as trustee, and the trustee has not received from the holders of not less than a majority in principal amount of the outstanding debt securities of that series a direction inconsistent with that request and has failed to
institute the proceeding within 60 days. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision in the indenture, the holder of any debt
security will have an absolute and unconditional right to receive payment of the principal of, premium and any interest on that debt security on or after the due dates expressed in that debt security and to institute suit for the enforcement of
payment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture requires us, within 120 days after the end of our fiscal year, to furnish to the trustee a statement as to
compliance with the indenture. If a Default or Event of Default occurs and is continuing with respect to the securities of any series and if it is actually known to a responsible officer of the trustee, the trustee shall mail to each Securityholder
of the securities of that series notice of a Default or Event of Default within 90&nbsp;days after it occurs or, if later, after a responsible officer of the trustee has actual knowledge of such Default or Event of Default. The indenture provides
that the trustee may withhold notice to the holders of debt securities of any series of any Default or Event of Default (except in payment on any debt securities of that series) with respect to debt securities of that series if the trustee
determines in good faith that withholding notice is in the interest of the holders of those debt securities. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Modification and Waiver </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We and the trustee may modify, amend or supplement the indenture or the debt securities of any series without the consent of any holder of any
debt security: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to cure any ambiguity, defect or inconsistency; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to comply with covenants in the indenture described above under the heading &#147;Consolidation, Merger and Sale of Assets&#148;; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to provide for uncertificated securities in addition to or in place of certificated securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to add guarantees with respect to debt securities of any series or secure debt securities of any series; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to surrender any of our rights or powers under the indenture; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to add covenants or events of default for the benefit of the holders of debt securities of any series; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to comply with the applicable procedures of the applicable depositary; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to make any change that does not adversely affect the rights of any holder of debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to provide for the issuance of and establish the form and terms and conditions of debt securities of any series as permitted by the indenture; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to effect the appointment of a successor trustee with respect to the debt securities of any series and to add to or change any of the provisions of the indenture to provide for or facilitate administration by more than
one trustee; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to comply with requirements of the SEC in order to effect or maintain the qualification of the indenture under the Trust Indenture Act. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may also modify and amend the indenture with the consent of the holders of at least a majority in principal amount of the outstanding debt
securities of each series affected by the modifications or amendments. We may not make any modification or amendment without the consent of the holders of each affected debt security then outstanding if that amendment will: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">reduce the amount of debt securities whose holders must consent to an amendment, supplement or waiver; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">reduce the rate of or extend the time for payment of interest (including default interest) on any debt security; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">reduce the principal of or premium on or change the fixed maturity of any debt security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation with respect to
any series of debt securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">reduce the principal amount of discount securities payable upon acceleration of maturity; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">waive a default in the payment of the principal of, premium or interest on any debt security (except a rescission of acceleration of the debt securities of any series by the holders of at least a majority in aggregate
principal amount of the then outstanding debt securities of that series and a waiver of the payment default that resulted from such acceleration); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">make the principal of or premium or interest on any debt security payable in currency other than that stated in the debt security; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">make any change to certain provisions of the indenture relating to, among other things, the right of holders of debt securities to receive payment of the principal of, premium and interest on those debt securities and
to institute suit for the enforcement of any such payment and to waivers or amendments; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">waive a redemption payment with respect to any debt security. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except for certain specified
provisions, the holders of at least a majority in principal amount of the outstanding debt securities of any series may on behalf of the holders of all debt securities of that series waive our compliance with provisions of the indenture. The holders
of a majority in principal amount of the outstanding debt securities of any series may on behalf of the holders of all the debt securities of such series waive any past default under the indenture with respect to that series and its consequences,
except a default in the payment of the principal of, premium or any interest on any debt security of that series; provided, however, that the holders of a majority in principal amount of the outstanding debt securities of any series may rescind an
acceleration and its consequences, including any related payment default that resulted from the acceleration. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Defeasance of Debt Securities and
Certain Covenants in Certain Circumstances </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Legal Defeasance</I>. The indenture provides that, unless otherwise provided by the
terms of the applicable series of debt securities, we may be discharged from any and all obligations in respect of the debt securities of any series (subject to certain exceptions). We will be so discharged upon the irrevocable deposit with the
trustee, in trust, of money and/or U.S. government obligations or, in the case of debt securities denominated in a single currency other than U.S. Dollars, government obligations of the government that issued or caused to be issued such currency,
that, through the payment of interest and principal in accordance with their terms, will provide money or U.S. government obligations in an amount sufficient in the opinion of a nationally recognized firm of
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
independent public accountants or investment bank to pay and discharge each installment of principal, premium and interest on and any mandatory sinking fund payments in respect of the debt
securities of that series on the stated maturity of those payments in accordance with the terms of the indenture and those debt securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This discharge may occur only if, among other things, we have delivered to the trustee an opinion of counsel stating that we have received
from, or there has been published by, the United States Internal Revenue Service a ruling or, since the date of execution of the indenture, there has been a change in the applicable United States federal income tax law, in either case to the effect
that, and based thereon such opinion shall confirm that, the holders of the debt securities of that series will not recognize income, gain or loss for United States federal income tax purposes as a result of the deposit, defeasance and discharge and
will be subject to United States federal income tax on the same amounts and in the same manner and at the same times as would have been the case if the deposit, defeasance and discharge had not occurred. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Defeasance of Certain Covenants</I>. The indenture provides that, unless otherwise provided by the terms of the applicable series of debt
securities, upon compliance with certain conditions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">we may omit to comply with the covenant described under the heading &#147;Consolidation, Merger and Sale of Assets&#148; and certain other covenants set forth in the indenture, as well as any additional covenants which
may be set forth in the applicable prospectus supplement; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any omission to comply with those covenants will not constitute a Default or an Event of Default with respect to the debt securities of that series (&#147;covenant defeasance&#148;). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The conditions include: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">depositing with the trustee money and/or U.S. government obligations or, in the case of debt securities denominated in a single currency other than U.S. Dollars, government obligations of the government that issued or
caused to be issued such currency, that, through the payment of interest and principal in accordance with their terms, will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants or
investment bank to pay and discharge each installment of principal of, premium and interest on and any mandatory sinking fund payments in respect of the debt securities of that series on the stated maturity of those payments in accordance with the
terms of the indenture and those debt securities; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">delivering to the trustee an opinion of counsel to the effect that we have received from, or there has been published by, the United States Internal Revenue Service a ruling or, since the date of execution of the
indenture, there has been a change in the applicable United States federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the holders of the debt securities of that series will not recognize
income, gain or loss for United States federal income tax purposes as a result of the deposit and related covenant defeasance and will be subject to United States federal income tax on the same amounts and in the same manner and at the same times as
would have been the case if the deposit and related covenant defeasance had not occurred. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Personal Liability of Directors, Officers,
Employees or Stockholders </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">None of our past, present or future directors, officers, employees or stockholders, as such, will have any
liability for any of our obligations under the debt securities or the indenture or for any claim based on, or in respect or by reason of, such obligations or their creation. By accepting a debt security, each holder waives and releases all such
liability. This waiver and release is part of the consideration for the issue of the debt securities. However, this waiver and release may not be effective to waive liabilities under U.S. federal securities laws, and it is the view of the SEC that
such a waiver is against public policy. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Governing Law </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture and the debt securities, including any claim or controversy arising out of or relating to the indenture or the securities, will
be governed by the laws of the State of New York. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture will provide that we, the trustee (and its agents) and the holders of the
debt securities (by their acceptance of the debt securities) irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to the indenture, the debt
securities or the transactions contemplated thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indenture will provide that any legal suit, action or proceeding arising out of
or based upon the indenture or the transactions contemplated thereby may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of
New York, and we, the trustee and the holder of the debt securities (by their acceptance of the debt securities) irrevocably submit to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. The indenture will further
provide that service of any process, summons, notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party&#146;s address set forth in the indenture will be effective service of process for any suit,
action or other proceeding brought in any such court. The indenture will further provide that we, the trustee and the holders of the debt securities (by their acceptance of the debt securities) irrevocably and unconditionally waive any objection to
the laying of venue of any suit, action or other proceeding in the courts specified above and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_8"></A>GLOBAL SECURITIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Book-Entry, Delivery and Form </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unless we
indicate differently in a prospectus supplement, the securities initially will be issued in book-entry form and represented by one or more global notes or global securities, or, collectively, global securities. The global securities will be
deposited with, or on behalf of, The Depository Trust Company, New York, New&nbsp;York, as depositary, or DTC, and registered in the name of Cede&nbsp;&amp; Co., the nominee of DTC. Unless and until it is exchanged for individual certificates
evidencing securities under the limited circumstances described below, a global security may not be transferred except as a whole by the depositary to its nominee or by the nominee to the depositary, or by the depositary or its nominee to a
successor depositary or to a nominee of the successor depositary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">DTC has advised us that it is: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a limited-purpose trust company organized under the New York Banking Law; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a &#147;banking organization&#148; within the meaning of the New York Banking Law; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a member of the Federal Reserve System; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a &#147;clearing corporation&#148; within the meaning of the New York Uniform Commercial Code; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a &#147;clearing agency&#148; registered pursuant to the provisions of Section&nbsp;17A of the Exchange Act. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">DTC holds securities that its participants deposit with DTC. DTC also facilitates the settlement among its participants of securities
transactions, such as transfers and pledges, in deposited securities through electronic computerized book-entry changes in participants&#146; accounts, thereby eliminating the need for physical movement of securities certificates. &#147;Direct
participants&#148; in DTC include securities brokers and dealers, including underwriters, banks, trust companies, clearing corporations and other organizations. DTC is a wholly-owned subsidiary of The Depository Trust&nbsp;&amp; Clearing
Corporation, or DTCC. DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries.
Access to the DTC system is also available to others, which we sometimes refer to as indirect participants, that clear through or maintain a custodial relationship with a direct participant, either directly or indirectly. The rules applicable to DTC
and its participants are on file with the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Purchases of securities under the DTC system must be made by or through direct
participants, which will receive a credit for the securities on DTC&#146;s records. The ownership interest of the actual purchaser of a security, which we sometimes refer to as a beneficial owner, is in turn recorded on the direct and indirect
participants&#146; records. Beneficial owners of securities will not receive written confirmation from DTC of their purchases. However, beneficial owners are expected to receive written confirmations providing details of their transactions, as well
as periodic statements of their holdings, from the direct or indirect participants through which they purchased securities. Transfers of ownership interests in global securities are to be accomplished by entries made on the books of participants
acting on behalf of beneficial owners. Beneficial owners will not receive certificates representing their ownership interests in the global securities, except under the limited circumstances described below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To facilitate subsequent transfers, all global securities deposited by direct participants with DTC will be registered in the name of
DTC&#146;s partnership nominee, Cede&nbsp;&amp; Co., or such other name as may be requested by an authorized representative of DTC. The deposit of securities with DTC and their registration in the name of Cede&nbsp;&amp; Co. or such other nominee
will not change the beneficial ownership of the securities. DTC has no knowledge of the actual beneficial owners of the securities. DTC&#146;s records reflect only the identity of the direct participants to whose accounts the securities are
credited, which may or may not be the beneficial owners. The participants are responsible for keeping account of their holdings on behalf of their customers. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">So long as the securities are in book-entry form, you will receive payments and may transfer
securities only through the facilities of the depositary and its direct and indirect participants. We will maintain an office or agency in the location specified in the prospectus supplement for the applicable securities, where notices and demands
in respect of the securities and the indenture may be delivered to us and where certificated securities may be surrendered for payment, registration of transfer or exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Conveyance of notices and other communications by DTC to direct participants, by direct participants to indirect participants and by direct
participants and indirect participants to beneficial owners will be governed by arrangements among them, subject to any legal requirements in effect from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Redemption notices will be sent to DTC. If less than all of the securities of a particular series are being redeemed, DTC&#146;s practice is
to determine by lot the amount of the interest of each direct participant in the securities of such series to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Neither DTC
nor Cede&nbsp;&amp; Co. (or such other DTC nominee) will consent or vote with respect to the securities. Under its usual procedures, DTC will mail an omnibus proxy to us as soon as possible after the record date. The omnibus proxy assigns the
consenting or voting rights of Cede&nbsp;&amp; Co. to those direct participants to whose accounts the securities of such series are credited on the record date, identified in a listing attached to the omnibus proxy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">So long as securities are in book-entry form, we will make payments through our paying agent on those securities to the depositary or its
nominee, as the registered owner of such securities, by wire transfer of immediately available funds. If securities are issued in definitive certificated form under the limited circumstances described below, we will have the option of making
payments by check mailed to the addresses of the persons entitled to payment or by wire transfer to bank accounts in the United States designated in writing to the applicable trustee or other designated party at least 15 days before the applicable
payment date by the persons entitled to payment, unless a shorter period is satisfactory to the applicable trustee or other designated party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Redemption proceeds, distributions and dividend payments on the securities will be made to Cede&nbsp;&amp; Co., or such other nominee as may
be requested by an authorized representative of DTC. DTC&#146;s practice is to credit direct participants&#146; accounts upon DTC&#146;s receipt of funds and corresponding detail information from us on the payment date in accordance with their
respective holdings shown on DTC records. Payments by participants to beneficial owners will be governed by standing instructions and customary practices, as is the case with securities held for the account of customers in bearer form or registered
in &#147;street name.&#148; Those payments will be the responsibility of participants and not of DTC or us, subject to any statutory or regulatory requirements in effect from time to time. Payment of redemption proceeds, distributions and dividend
payments to Cede&nbsp;&amp; Co., or such other nominee as may be requested by an authorized representative of DTC, is our responsibility, disbursement of payments to direct participants is the responsibility of DTC, and disbursement of payments to
the beneficial owners is the responsibility of direct and indirect participants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except under the limited circumstances described below,
purchasers of securities will not be entitled to have securities registered in their names and will not receive physical delivery of securities. Accordingly, each beneficial owner must rely on the procedures of DTC and its participants to exercise
any rights under the securities and the indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The laws of some jurisdictions may require that some purchasers of securities take
physical delivery of securities in definitive form. Those laws may impair the ability to transfer or pledge beneficial interests in securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">DTC may discontinue providing its services as securities depositary with respect to the securities at any time by giving reasonable notice to
us. Under such circumstances, in the event that a successor depositary is not obtained, securities certificates are required to be printed and delivered. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As noted above, beneficial owners of a particular series of securities generally will not receive
certificates representing their ownership interests in those securities. However, if: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">DTC notifies us that it is unwilling or unable to continue as a depositary for the global security or securities representing such series of securities or if DTC ceases to be a clearing agency registered under the
Exchange Act at a time when it is required to be registered and a successor depositary is not appointed within 90 days of the notification to us or of our becoming aware of DTC&#146;s ceasing to be so registered, as the case may be;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">we determine, in our sole discretion, not to have such securities represented by one or more global securities; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">an Event of Default has occurred and is continuing with respect to such series of securities, </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">we will prepare
and deliver certificates for such securities in exchange for beneficial interests in the global securities. Any beneficial interest in a global security that is exchangeable under the circumstances described in the preceding sentence will be
exchangeable for securities in definitive certificated form registered in the names that the depositary directs. It is expected that these directions will be based upon directions received by the depositary from its participants with respect to
ownership of beneficial interests in the global securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have obtained the information in this section and elsewhere in this
prospectus concerning DTC and DTC&#146;s book-entry system from sources that are believed to be reliable, but we take no responsibility for the accuracy of this information. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_9"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may sell the offered securities from time to time: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">through underwriters or dealers; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">through agents; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">directly to one or more purchasers; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">through a combination of any of these methods of sale. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will identify the specific plan of
distribution, including any underwriters, dealers, agents or direct purchasers and their compensation in the applicable prospectus supplement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_10"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Latham&nbsp;&amp; Watkins LLP will pass upon certain legal matters relating to the issuance and sale of the securities offered hereby on
behalf of Mercury General Corporation. Additional legal matters may be passed upon for us or any underwriters, dealers or agents, by counsel that we will name in the applicable prospectus supplement. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc319229_11"></A>EXPERTS</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consolidated financial statements and schedules of Mercury General Corporation and Subsidiaries as of December&nbsp;31, 2015 and 2014, and
for each of the years in the three-year period ended December&nbsp;31, 2015, and management&#146;s assessment of the effectiveness of internal control over financial reporting as of December&nbsp;31, 2015 have been incorporated by reference herein
in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="font-size:1pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>$375,000,000 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g280832g69z37.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>4.400% Senior Notes due 2027 </B></P>
<P STYLE="font-size:36pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PROSPECTUS SUPPLEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>March&nbsp;1, 2017 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:36pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Joint
Book-Running Managers </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>BofA Merrill Lynch </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>Wells Fargo Securities </B></P> <P STYLE="font-size:60pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g280832g21f25.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g280832g21f25.jpg
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M#W'VH4Z2OP(,OC3&J-A[IJ$;*-MDBDWR"-JU4KI^1G\*0^=7%W4JV1#F4J=
MFH&/EF,H( :=0J[QA$#>0.[,^RNG'X5J5XX'82^X4EEE)+S+([I&&T8?=8&6
M^X.RX]A/N+98<**<9;4K*&EDOJ0E*GG,J4KFW>:\_-$AOV7-3?VJV=X5M,=
M_K'P%= OA[_V2.+7[.>D?[LZQX5JTI7YR'_JUU\_^N<G?W#0OA6PQ^?_ .OM
MJS?!S_NF%\_9([!/[U^1OA55?3#]9'_S2VOE_>Q/CKUO<E-S;3Y(O79FJWK1
MSNOX)5&K";3(9L"[[3K%C!8:I*,P.%]NA#LY)]US^7PTU[?\IZDJRNI4H#9$
MP>('C1\NPWS/'"+9_$+?>E>.M*W'?-D;OU7>]1 O7>F0]/I-7C=BUJ2J$W8Y
MLPBS2<G(D1,3,&&Q$)'P9;$K),CB21T8$MTCPK$AI6T"K( SKGEV53ORB?%_
M8IO(+?W,$^%D8[5%;U!(:)@)PH=X<"U7VY7&C7"6$A25IPW)(I\#2&OQ EK*
MD!$VROX4KW7%(0JSZA 3OF3U99>-$P\SMU>?I(:)9YQ:>KOR=V<<*Z^SM&-B
MQ?4?L#0@CI$E(2"T-)RHN:U(20=91UY]M;M+.M[;SI;T37P4JJRN%;)T5X[O
M3IZ*2M$W/S)Y^0_##@$#-2NR(_5<D=K'CM0VL.MJ:,O]@P2HNRR2G'OEA56+
M2Q$ 3$GAN.H>NX)8P_P8H62??5L0E.TO2<SW=77ZS74EZ[>#^N^O3B?K3C3K
M_ QY%<!S-;%N+8N!BMB;1G&1GKG=#4JQ[^&CC66HV $*<??AJG%5^!^0^W%-
MNJ5IJ45$D[_5U5=[PJM9X4K/"E#\YV]D_&[@'4,R.T9_\0[(E@'2J3IFJDBD
MWJT+SE;0YIC*U*9JE6R0A:"K3.X9$RE@MF&&G99A,2]HWN(6]BF7%;3A$H92
M1MJX$_43/YRN!V0HB*_3N;CFGY5\YE]Y+![;YKA+#@1B&/WJ%HPZS&14VVH
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MPB1I0C"?0(3:ZM<R/LC*U_4UND3SC2?J&]G*KL*R*>N1U[CZ(%$@ZLO,=\$
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M>-*OTJCI>7:_,?@?U.[4_<HKQS. _C!/[)WP%><_E2_DJN/W]@WVWZ<"[$>
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MH5P-_P!HKES_ +\TW_R?\*>77P3Z#[Z++>>HG1%]ZUZEUA2>Q=MB::I[=<;
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MDN0VLYR\VBP6)5+#G%/@3#D''R,D]%#2<D$RV*9-J!7-/,84VL_*7',+NO*
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?Y(P$IAQUP<IMQ"R&7'AQW&I'3/63[:J>@.H#V5__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g280832g69z37.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g280832g69z37.jpg
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MDRY). V18IB- #XN\NE7;Q<(W4 ;C+8@)::3Z* !EIF8R))B! '>O1WL+9;
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M_)GP=1O(QR)L?G*U_@QEE-&Q:=170MC+JZ!MJ &+54K'A3;;A&(LE1)=<M+
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M"+7YNQ6/=L;?]7V*6JENCY>C["F#FE R1=0G+#!%!3L&:\V\.S**)::>4AY
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M>AL+H(,?MX.RD09]X,+.@19EF9K$-"?,N3S'-80(*I_/@9P#(U,CP[CQ-=<
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MD,P>LIG_  _$U WENUS20=]U&SA5X,.=N- ',M$@(LD9R;,B9:0B8\T]IE]
>[IK$8P.!DS#*27A!1&"'76Q!DM21IW_"I$ ZU__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
