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Liberty Mutual Group Q4 earnings up

An increase of 11.5% in net income is reported

Liberty Mutual Group, a property and casualty insurer, has reported a net income of $474m for the fourth quarter ended December 31, 2008, an increase of 11.5%, compared to $425m for the fourth quarter ended December 31, 2007.

Revenues for the fourth quarter of 2008 were $8.15 billion, an increase of 17.7% over $6.92 billion for the same period in 2007. Net written premium for the fourth quarter of 2008 was $6.39 billion, an increase of 14.5% over the same period in 2007.

Net income for the year ended December 31, 2008 was $1.14 billion, a decrease of 24.9% from $1.52 billion for the year ended December 31, 2007.

Revenues for the year 2008 were $28.85 billion, an increase of 11.2% over $25.95 billion for 2007. Net written premium for the 12 months ended December 31, 2008 was $25.47 billion, an increase of 13% over the same period in 2007.

Total assets were $104.32 billion as of December 31, 2008, an increase of $9.3 billion over December 31, 2007.