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Liberty Mutual Reports 15.2% Revenue Increase For Q3

Revenues for Q3 ended September 30, 2009 were $7.916b

Liberty Mutual Group has reported a net income of $265m for the three months ended September 30, 2009, an increase of $259m over the same period in 2008.

The revenues for the three months ended September 30, 2009 were $7.916b, an increase of $1.045b or 15.2% over the same period in 2008. The revenues for the nine months ended September 30, 2009 were $23.152b, an increase of $2.448b or 11.8% over the same period in 2008.

The net written premium for the three months ended September 30, 2009 was $7.207b, an increase of $661m or 10.1% over the same period in 2008. The net written premium for the nine months ended September 30, 2009 was $21.139b, an increase of $2.058b or 10.8% over the same period in 2008.

The net income for the three months ended September 30, 2009 was $265m, an increase of $259m from the same period in 2008. The net income for the nine months ended September 30, 2009 was $567m, a decrease of $99m or 14.9% from the same period in 2008.

Edmund F. Kelly, chairman, president and CEO of Liberty Mutual Group, said: “We are pleased with our results in the quarter. We and the industry benefited in the quarter from improved asset values and favorable weather. We remain committed to disciplined underwriting, reserving and overall risk management to maintain our strong balance sheet.”