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.