NU Online News Service, July 29, 11:53 a.m. EDT

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.

Long says the Boston-based global insurer’s business model allows it to absorb the financial impact of the significant natural-catastrophe events during the quarter.

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