Liberty Mutual Reports $427M Loss in 3rd Quarter

Liberty Mutual Holding Co. reported a net loss of $427 million during the quarter that ended on Sept. 30, which the carrier blamed on losses from energy investments and a $690 million impairment charge related to the sale of its Venezuela operations. “Our continuing strong operating performance was masked in the third quarter by a nonrecurring loss of approximately $700 million from the deconsolidation of our Venezuelan subsidiary and energy investment related losses,” stated Chairman and Chief Executive Officer David H. Long. “Otherwise, combined ratio for the group improve...