The first quarterly earnings conference call with new Liberty Mutual Group President and CEO David H. Long involved the reporting of a net loss of $170 million for the 2011 second quarter, driven by nearly $1.3 billion in catastrophe losses.
When David H. Long first sat down at his desk at Liberty Mutual to work as a financial analyst, he thought it was a good job to keep him busy for a few years before heading to graduate school.
Outgoing Liberty Mutual Group chief executive Edmund “Ted” Kelly says his continued role as chairman will not include stepping on David H. Long’s toes.
When David H. Long first sat down at his desk at Liberty Mutual to work as a financial analyst, he thought it was a good job to keep him busy for a few years before heading to graduate school.
Edmund “Ted” Kelly, chief executive officer of Liberty Mutual Group since 1998, is retiring on June 28. David H. Long will take over as the new CEO, announces the company.
Liberty Mutual Group says net income increased nearly 15 percent during the first quarter when compared with the same quarter in 2010 and the insurer released a preliminary estimate from April storms in the U.S.