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Liberty Mutual Q1 net income up

Liberty Mutual Group has reported a net income of $360 million for the three months ended March 31, 2008, an increase of $10 million over the same period in 2007.

Revenues for the first quarter ended March 31, 2008 were $6.89 billion, an increase of $742 million, or 12.1%, over $6.14 billion reported for the same period in 2007.

The company’s net written premium for the first quarter of 2008 was $6.27 billion, an increase of $569 million, or 10%, over the same period in 2007.

Edmund Kelly, chairman, president and CEO, said: Despite significant competition, higher catastrophe losses and a global credit crisis, our results in the quarter were solid.