12th November 2023
Liberty Mutual Holding Company(LMHC) reports net income of $219m and loss of $441m for the Three and Nine months versus net loss attributable to LMHC of $353m and $198m for the same periods in 2022.
“For the third quarter, we reported net income attributable to LMHC of $219m,” said Tim Sweeney, Liberty
Mutual president & ceo. “Solid underwriting results in our Global Risk Solutions business and the tailwind from rising net investment income helped offset continued pressure from inflation and severe weather impacting US personal lines. Despite these challenges, the underlying combined ratio in US Retail Markets improved 2.4 points and we continue to take aggressive rate and non-rate actions to return that business to target profitability.
Global Risk Solutions continues to make progress toward its targets, with an improvement in the underlying combined
ratio of 2.2 points compared to the prior year quarter. We remain focused on continuing to improve underwriting
profitability to achieve a 95 target combined ratio.”
Liberty Mutual Trends(182 articlrs)