NU Online News Service, Oct. 27, 3:43 p.m. EDT
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.
Edmund F. Kelly, the company's chairman, president and chief executive officer, said during a conference call that in addition to the investment improvements and the benign hurricane catastrophe season the company's acquisition of Safeco is proving a better performer than expected–a pleasant surprise, he noted, saying the company is a "big reason for our strong performance."
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