BOSTON--(BUSINESS WIRE)-- <\/p>\n
Liberty Mutual Holding Company Inc. and its subsidiaries (collectively LMHC or the Company) today reported net income of $284 million and $365 million for the three and twelve months ended December 31, 2011, decreases of $292 million and $1.313 billion from the same periods in 2010. <\/p>\n
Operating results in the fourth quarter were adversely affected by the Thailand floods, bringing our pre-tax catastrophe losses for the year to a historically high level of $2.7 billion, remarked David H. Long, President and CEO of Liberty Mutual Insurance. Net income of $365 million in 2011 though demonstrates that core earnings are solid and that our diversification continues to serve us well. Not immediately evident in the numbers are the opening of our fourth China branch in Guangdong Province, a second level of regulatory approval of our joint venture in India, the acquisition of Quinn insurance operations in Ireland, and a favorable trajectory of pricing trends across multiple lines of business. Collectively, these position us well for a more prosperous 2012. <\/p>\n
Fourth Quarter Highlights <\/p>\n
Year-to-Date Highlights <\/p>\n
Financial Condition as of December 31, 2011 <\/p>\n
Consolidated Results of Operations for the Three and Twelve Months Ended December 31, 2011 and 2010: <\/p>\n
December 31, <\/p>\n
December 31, <\/p>\n
Pre-tax operating income before catastrophes, net incurred losses attributable to prior years, Venezuela devaluation, current accident year re- estimation and LP and LLC income <\/p>\n<\/p>\n
Excerpt from: BOSTON--(BUSINESS WIRE)-- Liberty Mutual Holding Company Inc. and its subsidiaries (collectively LMHC or the Company) today reported net income of $284 million and $365 million for the three and twelve months ended December 31, 2011, decreases of $292 million and $1.313 billion from the same periods in 2010. Continue reading
\nLiberty Mutual Insurance Reports Fourth Quarter 2011 Results<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"