Energy Losses Send Liberty Mutual Earnings Into Tailspin

Liberty Mutual reported $15 million in net income during the second quarter of 2016, plummeting 94% from $239 million in the prior-year quarter. For the first six months of the year, Liberty Mutual reported net income of $408 million, $122 million and 23% less than the first half of 2015. Chairman and Chief Executive Officer David H. Long pointed to $95 million in investment losses during the quarter as reason for the decline, compared to $241 million gain in the second quarter of 2015. “Energy investments continue to have a detrimental effect on overall results,” Long said. &qu...