Liberty Mutual Reports $282M Profit for 3Q

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Liberty Mutual and its subsidiaries reported net income of $282 million and $1.911 billion for the three and nine months ended Sept. 30, 2018 versus net loss attributable of $665 million and $188 million for the same periods in 2017.

Improvements in net income and in the combined ratio for the Boston-based global insurer were driven primarily by decreased catastrophe activity within the quarter.
David H. Long, Chairman and CEO of the Board of Directors, said, ve As evidenced by the strong growth of our international operations and net written premium growth of up to $ 10.2 billion with a net growth of 3.3 percent, “ continues to diversify, çeşit he said.

Third Quarter Results

Results reported for three months are:

The combined combined rate for the three-month period ended 30 September 2018, including the impact of catastrophes, was 99.5 with a decrease of 17.7 points compared to the same period of the previous year. The decline mainly reflects the previous year’s catastrophe losses and net losses. Repetitive empowerment in 2018 in 2017.
Pre-disaster consolidated mix ratio increased by 1.9 points in 2017 to 95.0 in the same period. This reflects the impact of high catastrophic loss activities in the Global Retail Markets and Global Risk Solutions.
The net written premium of the owners increased by $ 65 million. This increase reflects Global Retail Markets’ rate increases in the US market segment.
Global Risk Solutions specialty insurance increased by $ 104 million. This increase reflects new business growth and favorable rate increases, partially offset by additional reinsurance purchased in the current year.
Global Risk Solutions reinsurance net post premium increased by $ 96 million. This increase reflects new business growth and favorable rate increases, partially offset by net domestic debt repayments in 2017.
Commercial property network increased by $ 41 million. The increase reflects the positive rate increases.
Corporate reinsurance net post premium decreased by $ 77 million. The decrease reflects ledger bookkeeping at the beginning of the contract, related to the excess of the damage contracts and the written premiums for the net effect of the transferred disaster reinsurance costs.
Operating income before taxes amounted to $ 312 million in the same period of 2017 with a loss of $ 1.290 billion. The change reflects the disaster losses in the current year, the profit margin in the premiums earned and the Ironshore integration savings. Urological product acquisition and integration costs decreased by $ 7 million for three months, $ 31 million in the same quarter, or 81.6% in the same quarter.

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