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Liberty Mutual Q4'17 net income increases YOY

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Liberty Mutual Q4'17 net income increases YOY

Liberty Mutual Holding Co. Inc. and its subsidiaries collectively reported fourth-quarter 2017 net income attributable to the companies of $205 million, compared with $143 million in the prior-year quarter.

Net operating income before partnerships, limited liability companies and other equity method income for the quarter was $65 million, a decrease of $270 million from the same period in 2016.

Fourth-quarter 2017 pretax operating income before partnerships, limited liability companies and other equity method income for the period was $165 million, compared with $429 million in the prior-year quarter.

Partnerships, limited liability companies and other equity method income for the quarter were $65 million, compared with a loss of $22 million in the year-ago quarter.

Revenues for the quarter were $10.23 billion, compared with $8.94 billion in the prior-year quarter. Net written premium for the quarter was $8.86 billion, an increase of $716 million, or 8.8%, over the same period in 2016.

The consolidated combined ratio before catastrophes, net incurred losses attributable to prior years, and current accident year re-estimation was 94.6% for the quarter, an increase of 0.9 percentage points from the prior-year period.

Including the impact of catastrophes, net incurred losses attributable to prior years, and current accident year re-estimation, the combined ratio increased 3.5 percentage points to 100.5% for the fourth quarter of 2017.

For full year 2017, net income attributable to the companies was $17 million, compared with $1.01 billion in 2016.