Mercury sold its first policy when its founder and current CEO, Mr. Joseph was exactly 40 years old. The eldest son of a restaurateur, George Joseph was born in 1921 and grew up in West Virginia. During World War II, he served in the Air Force as a B-17 navigator, flying some 50 missions. Afterwards, he attended Harvard on the GI Bill, graduating in 1949 with a degree in mathematics and physics.

That same year, Mr. Joseph moved to Los Angeles, where he embarked on a career in insurance. By day, he worked for Occidental Life, as a systems analyst and later as a salesman. By night, he sold life insurance door-to-door. In 1954, he left Occidental to open his own agency. He offered life insurance and eventually property and casualty lines, earning CPCU and CLU designations along the way.

By the late 50's, Mr. Joseph had grown unhappy with the way property/casualty insurers marketed private passenger auto business. "Some companies restricted acceptance to preferred risks only; some only wrote standard risks; and others, only non-standard risks. It wasn't like life insurance, which had a slot for almost every risk," he explains.

Mr. Joseph decided to fill the void. Convinced that, "Whatever you can conceive, you can achieve," he set out to form a company that would write all risks. Even risks---young people, the temporarily unemployed, new residents--that other insurers avoided like a monk shuns Las Vegas.
In April, 1962, after two years of planning, Mercury came to life. Mr. Joseph named the Company after the Roman god of commerce and good fortune. As the winged messenger of the gods, it is Mercury who offers guidance to travelers and restores peace and prosperity.

With more complex classifications and careful screening practices than its competitors, Mercury brought a level of attentiveness to underwriting that was rarely seen. "At the time, what Mr. Joseph did was revolutionary," says Charles McClung, a founding board member who once sold insurance with Mr. Joseph.

Under Mr. Joseph's tutelage, Mercury has enjoyed one of the fastest growth rates in the industry. It is also one of the most consistently profitable, ending 2004 with written premiums of $2.6 billion, and assets of $3.0 billion. Over the years, Mercury and Mr. Joseph have garnered a slew of accolades from the industry and media alike.

"Anyone in the industry will tell you they have the utmost respect for Mr. Joseph," says Policy Service Manager Gretchen Kronman, who, at 38 years with the Company, is its longest-serving employee. "His commitment to the industry, Mercury, and our agents has been tremendous." George Joseph is very, very smart," said California Assemblyman Tom Calderon at Mercury's most recent agents' contingency luncheon in California. "He really knows insurance issues."

At the same vent, agent Dave Smith of South Shores Insurance Agency in Huntington Beach, California was called to the podium to accept a hefty bonus check from Mr. Joseph. But it wasn't the surprise bonus that bowled him over. "I've always wanted to shake George Joseph's hand," he gushed moments afterward. "It was the dream of a lifetime."

Forbes Magazine has called Mercury "one of the best managed property and casualty insurers anywhere in the country," Mr. Joseph one of "America's Most Powerful People," and has put Mercury on their "Best Big Companies" list for four years running.

The company earned the prestigious "AA" (Very Strong) rating from Standard & Poor's (S&P), the leading provider of independent financial analysis on companies. S&P noted Mercury's "extremely strong operating history, ...deep and experienced management team, ... and disciplined underwriting and claims."

Going forward, S&P "sees nothing that will threaten Mercury's business position. ...Good service and efficient operations ... shield Mercury from companies trying to compete on service."
Now 80, Mr. Joseph has handed over the day-to-day reins to President and COO Gabe Tirador. Nevertheless, he remains an active CEO, keeping an especially watchful eye on strategic and legislative issues. He also manages to stay physically active, hitting the tennis court at least three times a week.

What's in store for Mercury in the next 40 years? Mr. Joseph envisions "a $20 billion company in 30 states." Notes Gretchen, "He hasn't been wrong very many times."