Liberty Mutual reports strong Q1 financial results

Insurance Business America | May 09, 2019

Liberty Mutual reports strong Q1 financial results
Liberty Mutual is the latest insurer on the block to announce its first quarter (Q1) 2019 results - and its smiles all-round for the Boston-based firm. The Liberty Mutual Holding Company Inc. (LMHC) and its subsidiaries reported net income of $671 million for Q1, an increase of $22 million or 3.4% over the same period in 2018. Net written premium for the three months also enjoyed a $265 million or 2.8% jump, reaching a total of $9.699 billion. LMHC’s consolidated net income for January to March 2019 was $671 million, an increase of $22 million or 3.4% over the same period in 2018. The group also reported a total Q1 combined ratio of 96.3% (including the impact of catastrophes and net incurred losses from prior years), which was a decrease of 2.7% from the same period in 2018. “Consolidated net income from continuing operations was $721 million, up 22% over the prior year,” said David H. Long, Liberty Mutual chairman and chief executive officer.

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Spotlight

Etherisc is building a platform for decentralized insurance applications. With visionaries like you, we can create a platform full of opportunities across the industry’s value chain. Corporates, large and small, not-for-profit groups and insurtech startups can all come together to provide better products and services. We aim to use blockchain technology to help make the purchase and sale of insurance more efficient, enable lower operational costs, provide greater transparency into the industry and democratize access to reinsurance

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