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Liberty Mutual Q3 net income doubles

Liberty Mutual Group has reported a net income of $567m for the third quarter of 2010, compared to $260m for the same quarter of 2009.

Total revenues for the third quarter of 2010 were $8.38bn, compared to $7.91bn for the same period of 2009.

Revenues for the first nine months of 2010 were $24.64bn, compared to $23.15bn for same period of 2009.

Liberty Mutual Group chairman and CEO Edmund Kelly said, the company had an excellent quarter with growth in premium writings, profitability, and equity.

“In light of the continuing difficult economic and competitive environments, the results underscore the strength of our highly diversified global franchise,” Kelly said.