Liberty Mutual has posted a second consecutive Q2 underwriting loss with a 101.4 percent combined ratio, although the result marked a 1.2 percentage point improvement on the same quarter of last year.
Canadian wildfires from May, the Ecuador earthquake, severe storms in the US and Cyclone Winston all contributed to $832mn of losses from catastrophe events, adding 10.2 points to the Boston-based insurer’s combined ratio.
Despite this, the claims ratio was 0.3 percentage points better year-on-year at 60.2 percent. This…Read more @ Insurance Insider