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Condensed Financial Information of Registrant (Schedule Of Condensed Financial Information Of Registrant, Balance Sheets) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Investments, at fair value:        
Equity securities (cost $189,032; $27,449) $ 412,880us-gaap_TradingSecuritiesEquity $ 281,883us-gaap_TradingSecuritiesEquity    
Short-term investments (cost $9,744; $11,089) 372,542us-gaap_ShortTermInvestments 315,776us-gaap_ShortTermInvestments    
Total investments 3,403,822us-gaap_Investments 3,158,312us-gaap_Investments    
Cash 289,907us-gaap_Cash 266,508us-gaap_Cash 158,183us-gaap_Cash 211,393us-gaap_Cash
Accrued investment income 38,737us-gaap_AccruedInvestmentIncomeReceivable 36,120us-gaap_AccruedInvestmentIncomeReceivable    
Current income taxes 503us-gaap_IncomeTaxReceivable 0us-gaap_IncomeTaxReceivable    
Deferred income taxes 0us-gaap_DeferredTaxAssetsNet 15,220us-gaap_DeferredTaxAssetsNet    
Other assets 21,512us-gaap_OtherAssets 14,336us-gaap_OtherAssets    
Total assets 4,600,289us-gaap_Assets 4,315,181us-gaap_Assets    
Liabilities:        
Notes payable 290,000us-gaap_NotesPayable 190,000us-gaap_NotesPayable    
Accounts payable and accrued expenses 130,887us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 127,663us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent    
Current income taxes 0us-gaap_AccruedIncomeTaxesCurrent 11,856us-gaap_AccruedIncomeTaxesCurrent    
Deferred income taxes 5,333us-gaap_DeferredIncomeTaxLiabilities 0us-gaap_DeferredIncomeTaxLiabilities    
Other liabilities 207,028us-gaap_OtherLiabilities 170,665us-gaap_OtherLiabilities    
Total liabilities 2,724,843us-gaap_Liabilities 2,492,695us-gaap_Liabilities    
Shareholders’ equity:        
Common stock 88,705us-gaap_CommonStockValue 81,591us-gaap_CommonStockValue    
Additional paid-in capital 3,804us-gaap_AdditionalPaidInCapitalCommonStock 411us-gaap_AdditionalPaidInCapitalCommonStock    
Retained earnings 1,782,937us-gaap_RetainedEarningsAccumulatedDeficit 1,740,484us-gaap_RetainedEarningsAccumulatedDeficit    
Total shareholders’ equity 1,875,446us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,822,486us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,842,497us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest  
Total liabilities and shareholders’ equity 4,600,289us-gaap_LiabilitiesAndStockholdersEquity 4,315,181us-gaap_LiabilitiesAndStockholdersEquity    
Parent Company [Member]        
Investments, at fair value:        
Equity securities (cost $189,032; $27,449) 182,300us-gaap_TradingSecuritiesEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
29,737us-gaap_TradingSecuritiesEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Short-term investments (cost $9,744; $11,089) 9,744us-gaap_ShortTermInvestments
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
11,089us-gaap_ShortTermInvestments
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Investment in subsidiaries 1,783,049us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesFairValueDisclosure
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,794,164us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesFairValueDisclosure
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Total investments 1,975,093us-gaap_Investments
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,834,990us-gaap_Investments
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Cash 52,326us-gaap_Cash
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
46,332us-gaap_Cash
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
10,199us-gaap_Cash
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
29,219us-gaap_Cash
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
Accrued investment income 158us-gaap_AccruedInvestmentIncomeReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
16us-gaap_AccruedInvestmentIncomeReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Amounts receivable from affiliates 1,181us-gaap_DueFromAffiliates
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
206us-gaap_DueFromAffiliates
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Current income taxes 239us-gaap_IncomeTaxReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
0us-gaap_IncomeTaxReceivable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Deferred income taxes 6,975us-gaap_DeferredTaxAssetsNet
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,068us-gaap_DeferredTaxAssetsNet
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Income tax receivable from affiliates 3,482mcy_IncomeTaxReceivableDueFromAffiliate
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
11,573mcy_IncomeTaxReceivableDueFromAffiliate
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Other assets 1,095us-gaap_OtherAssets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
459us-gaap_OtherAssets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Total assets 2,040,549us-gaap_Assets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,894,644us-gaap_Assets
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Liabilities:        
Notes payable 150,000us-gaap_NotesPayable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
50,000us-gaap_NotesPayable
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Accounts payable and accrued expenses 0us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
23us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Amounts payable to affiliates 97us-gaap_DueToAffiliateCurrentAndNoncurrent
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
34us-gaap_DueToAffiliateCurrentAndNoncurrent
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Income tax payable to affiliates 14,728mcy_IncomeTaxPayableDueToAffiliate
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
6,730mcy_IncomeTaxPayableDueToAffiliate
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Current income taxes 0us-gaap_AccruedIncomeTaxesCurrent
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
12,672us-gaap_AccruedIncomeTaxesCurrent
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Other liabilities 278us-gaap_OtherLiabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
2,699us-gaap_OtherLiabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Total liabilities 165,103us-gaap_Liabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
72,158us-gaap_Liabilities
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Shareholders’ equity:        
Common stock 88,705us-gaap_CommonStockValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
81,591us-gaap_CommonStockValue
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Additional paid-in capital 3,804us-gaap_AdditionalPaidInCapitalCommonStock
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
411us-gaap_AdditionalPaidInCapitalCommonStock
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Retained earnings 1,782,937us-gaap_RetainedEarningsAccumulatedDeficit
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,740,484us-gaap_RetainedEarningsAccumulatedDeficit
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Total shareholders’ equity 1,875,446us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,822,486us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Total liabilities and shareholders’ equity 2,040,549us-gaap_LiabilitiesAndStockholdersEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
1,894,644us-gaap_LiabilitiesAndStockholdersEquity
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Equity securities trading - cost 189,032us-gaap_TradingSecuritiesEquityCost
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
27,499us-gaap_TradingSecuritiesEquityCost
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
   
Short-term investments - cost $ 9,744us-gaap_TradingSecuritiesShortTermInvestmentsAmortizedCost
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember
$ 11,089us-gaap_TradingSecuritiesShortTermInvestmentsAmortizedCost
/ dei_LegalEntityAxis
= us-gaap_ParentCompanyMember