Net income at Liberty Mutual Insurance fell nearly 51 percent in 2011's fourth quarter and about 78 percent for the year on catastrophe losses and reserve strengthening.
Liberty Mutual profited $284 million during Q4 2011, down from $576 during Q4 2010. The combined ratio for the period was 104.2, up 5 points from 2010.
“Another quarter, another catastrophe,” David H. Long, president and CEO of Liberty Mutual, said during a conference call.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
