Liberty Mutual Insurance Reports Third Quarter 2017 Results
"Net loss in the quarter of
"While the catastrophe losses are significant, they serve as a very real reminder of why were are here. It is in times of crisis that our customers expect us to respond immediately with care, compassion and restitution. Our employees continue to work tirelessly in the impacted areas to help our customers through the daunting challenge of getting back on their feet as quickly as possible."
Third Quarter Highlights
* Net written premium ("NWP") for the three months ended
* Pre-tax operating loss before partnerships, limited liability companies ("LLC") and other equity method income for the three months ended
* Net operating loss before partnerships, LLC and other equity method income for the three months ended
*
* Net realized gains, net of tax for the three months ended
*
* Restructuring costs, net of tax for the three months ended
* Loss on extinguishment of debt, net of tax for the three months ended
* Consolidated net loss for the three months ended
* Net income (loss) attributable to non-controlling interest for the three months ended
* Net loss 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 nine months ended
* Pre-tax operating loss before partnerships, LLC and other equity method income for the nine months ended
* Net operating loss before partnerships, LLC and other equity method income for the nine months ended
*
* Net realized gains (losses), net of tax for the nine months ended
*
* Restructuring costs, net of tax for the nine months ended
* Loss on extinguishment of debt, net of tax for the nine months ended
* Consolidated net loss for the nine months ended
* Net income attributable to non-controlling interest for the nine months ended
* Net loss attributable to LMHC for the nine months ended
* Cash flow provided by operations for the nine months ended
* The consolidated combined ratio before catastrophes and net incurred losses attributable to prior years for the nine months ended
Financial Condition as of
* Total debt was
* Total equity was
Subsequent Events
Management has assessed material subsequent events through
Financial Information: The Company's financial results, management's discussion and analysis of operating results and financial condition, accompanying financial statements and other supplemental financial information for the three and nine months ended
Conference Call Information: On
About
LMHC, through its subsidiaries and affiliated companies, offers a wide range of property and casualty insurance products and services to individuals and businesses alike. In 2001 and 2002, the Company formed a mutual holding company structure, whereby the three principal mutual insurance companies,
Functionally, the Company conducts substantially all of its business through the SBUs, with each operating independently of the others with dedicated sales, underwriting, claims, actuarial, financial and certain information technology resources. Management believes this structure allows each business unit to execute its business strategy and/or to make acquisitions without impacting or disrupting the operations of the Company's other business units.
LMHC employs more than 50,000 people in over 800 offices throughout the world. For a full description of the Company's business operations, products and distribution channels, please visit Liberty Mutual's Investor Relations web site at www.libertymutualgroup.com/investors.
See table here (https://www.libertymutualgroup.com/about-liberty-mutual-site/news-site/Documents/Q3_2017_Press_Release percent20FINAL.pdf)
Crop Insurance Deadline Nears in Florida for Blueberry Growers
Crop Insurance Deadline Nears in Alabama for Pasture, Rangeland, Forage and Apiculture Producers
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News