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Liberty Mutual Group reported 2009 fourth-quarter net income of $456 million, a 2 percent increase from $447 million recorded for the period in 2008 and it noted increases in net written premiums and strong core business performance.

Specialist insurer and reinsurer Hiscox Ltd. reported 2009 profits increased by 296 percent over the previous year, helped by investment results and a lack of catastrophe losses.

Liberty Mutual together with Boston Mayor Thomas M. Menino and state officials announced today that the company plans an expansion of its Boston headquarters that will create 1,100 new jobs.

Liberty Mutual Group said it has received permission from the China Insurance Regulatory Commission (CIRC) to open its third office in China.

Insurers challenged the results of a report from the Massachusetts Attorney General that questions the state's relatively new auto insurance "managed competition" system.

An executive of Chartis, the rebranded American International Group subsidiary, defended the company against competitors' accusations it was under-pricing because of AIG's damaged financial reputation.

Liberty Mutual's third-quarter net income jumped to $265 million from $6 million for the period last year thanks to improvements in investment income and a benign hurricane season, the company's chief executive said.

Rating agencies took a well-deserved beating last week when they were called on the carpet by state regulators wary of trusting their assessments going forward.