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Liberty Mutual Group said it is delaying its initial public offering of stock in Liberty Mutual Agency Corporation (LMAC) because the company believes it won't get the right price for the business.

Catastrophe losses drove a 17.9 percent, or $48 million decline in Liberty Mutual Group's 2010 second quarter net income compared to a year ago.

David H. Long was named president of Liberty Mutual Group, effective July 1, the company's chairman and chief executive officer, Edmund F. Kelly, announced late Wednesday.

Liberty Mutual reported first-quarter net income rose by $293 million, primarily on the strength of investment gains.

Boston-based insurer Liberty Mutual Group said today that its subsidiary, Liberty Mutual Agency Corporation, has filed with the Securities and Exchange Commission to make an initial public offering.

A public awareness campaign to educate risk managers about the evils of contingent commissions launched by Willis

As brokerages hotly debate the propriety of accepting contingent commissions, a leading insurer said since insurance buyers ultimately pay the cost, they should decide how to compensate their brokers.

Ted Kelly, head of Liberty Mutual Group, speaks with NU Editor Sam Friedman about how his company's multimedia branding initiative, "The Responsibility Project," reflects his corporate culture of "doing the right thing."