Liberty Mutual Reverses Q3 Loss With $455M Profit

Liberty Mutual Insurance has reported third quarter net income of $455 million, reversing a $427 million net loss in the third quarter of 2015. For the first nine months of the year, net income was $863 million, up from $103 million in the same period last year. Net written premium for the third quarter was $9.31 billion, an increase of 6.1%, or $534 million, over the prior-year quarter. Net written premium for the nine months that ended Sept. 30 was $27.1 billion, an increase of $682 million or 2.6% over the same period in 2015. Workers’ compensation accounts for 20% of the company&r...