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LOS ANGELES (AP) -- Insurance provider Mercury General Corp. said Monday its third-quarter profit fell as the value of net premiums declined, but nonetheless beat Wall Street forecasts. Net income for the three months ended Sept. 30 fell to $63.3 million, or $1.15 per share, compared with $68.2 million, or $1.25 per share, during the same period a year earlier. The earnings include investment gains of $1.3 million, or 2 cents per share, compared with similar gains of $1.7 million, or 3 cents per share, during the same period a year ago. Analysts polled by Thomson Financial had expecting earnings of $1.11 per share, on average. Those estimates typically exclude one-time gains and losses. Companywide net premiums written slipped to $758.8 million, compared with $776.2 million a year ago. Mercury General shares rose $1.24, or 2.5 percent, to $51.56 in morning trading. Those stock has traded as low as $49.52 and as high as $59.06 in the past year.
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