Liberty Mutual Insurance Reports Second Quarter 2017 Results
"Net income for the quarter was
"Net premiums written in the quarter grew 9.9% including the impact of the
Second Quarter Highlights
* Net written premium ("NWP") for the three months ended
* Pre-tax operating income ("PTOI") before partnerships, limited liability companies ("LLC") and other equity method income (loss) for the three months ended
* Net operating income before partnerships, LLC and other equity method income (loss) for the three months ended
*
* Net realized gains (losses) for the three months ended
*
* Loss on extinguishment of debt was zero for the three months ended
* Consolidated net income for the three months ended
* Net income attributable to LMHC for the three months ended
* Cash flow provided by operations for the three months ended
* The consolidated combined ratio before catastrophes1, net incurred losses attributable to prior years2 and current accident year re-estimation3 for the three months ended
Year-to-date Highlights
* NWP for the six months ended
* PTOI before partnerships, LLC and other equity method income (loss) for the six months ended
* Net operating income before partnerships, LLC and other equity method income (loss) for the six months ended
*
* Net realized gains (losses) for the six months ended
*
* Loss on extinguishment of debt for the six months ended
* Consolidated net income for the six months ended
* Net income attributable to LMHC for the six months ended
* Cash flow provided by operations for the six months ended
* The consolidated combined ratio before catastrophes and net incurred losses attributable to prior years for the six months ended
Financial Condition as of
* Total debt was
* Total equity was
Subsequent Events
Management has assessed material subsequent events through
Click here to view the table: https://www.libertymutualgroup.com/about-liberty-mutual-site/news-site/Documents/Q2%202017%20Press%20Release.pdf
1 Catastrophes are defined as a natural catastrophe or terror event exceeding
2 Net incurred losses attributable to prior years is defined as incurred losses attributable to prior years (including prior year losses related to catastrophes and prior year catastrophe reinstatement premium) including earned premium attributable to prior years.
3 Re-estimation of the current accident year loss reserves for the three months ended
4 The combined ratio, expressed as a percentage, is a measure of underwriting profitability. This measure should only be used in conjunction with, and not in lieu of, underwriting income and may not be comparable to other performance measures used by the Company's competitors. The combined ratio is computed as the sum of the following property and casualty ratios: the ratio of claims and claim adjustment expense less managed care income to earned premium; the ratio of insurance operating costs plus amortization of deferred policy acquisition costs less third-party administration income and fee income (primarily related to the Company's involuntary market servicing carrier operations) and installment charges to earned premium; and the ratio of policyholder dividends to earned premium. Provisions for uncollectible premium and reinsurance are not included in the combined ratio unless related to an asbestos and environmental commutation and certain other run off.
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