Liberty Mutual’s post-tax operating income went up by 0.5 percent to $405mn for the three months to 31 March, as the insurer’s combined ratio improved but investment returns dipped.
The carrier also reported that net income was up 42.4 percent year-on-year to $393mn in the first quarter.
The first quarter of last year had included a one-off benefit of $91mn due to a reduction in the estimated prior years’ liability for state assessments related to workers’ compensation…Read more at The Insurance Insider