-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TcP8PT5WFJANWChg1VIxtUZ0QcFCpjUz2WKIafXCAsPC3u1L61ijL06SW5pYPvXT
 UPpEd7PWYhpff5rDOA01yQ==

<SEC-DOCUMENT>0001179110-10-002924.txt : 20100216
<SEC-HEADER>0001179110-10-002924.hdr.sgml : 20100215
<ACCEPTANCE-DATETIME>20100216170715
ACCESSION NUMBER:		0001179110-10-002924
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090716
FILED AS OF DATE:		20100216
DATE AS OF CHANGE:		20100216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Shaw Jerome M
		CENTRAL INDEX KEY:			0001378133

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33077
		FILM NUMBER:		10609391

	MAIL ADDRESS:	
		STREET 1:		29621 NORTHWESTERN HIGHWAY
		CITY:			SOUTHFIELD
		STATE:			MI
		ZIP:			48034

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MERCURY FINANCIAL CORP
		CENTRAL INDEX KEY:			0000929186
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				383164336
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		29621 NORTHWESTERN HWY
		STREET 2:		PO BOX 5096
		CITY:			SOUTHFIELD
		STATE:			MI
		ZIP:			48034
		BUSINESS PHONE:		8103584010

	MAIL ADDRESS:	
		STREET 1:		29621 NORTHWESTERN HGWY
		STREET 2:		PO BOX 5096
		CITY:			SOUTHFIELD
		STATE:			MI
		ZIP:			48086
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2009-07-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000929186</issuerCik>
        <issuerName>FIRST MERCURY FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>FMR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001378133</rptOwnerCik>
            <rptOwnerName>Shaw Jerome M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>29110 INKSTER ROAD, SUITE 100</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SOUTHFIELD</rptOwnerCity>
            <rptOwnerState>MI</rptOwnerState>
            <rptOwnerZipCode>48034</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-07-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11100</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14.5252</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1929137</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6085</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Consisted of 13 transactions with prices ranging from $14.50 to $14.69.  The sales reported on this form were effected pursuant to a 10b5-1 trading plan.</footnote>
        <footnote id="F2">Consists of restricted stock issued under the Company's Omnibus Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Jerome M. Shaw</signatureName>
        <signatureDate>2010-02-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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