Liberty Mutual 2018 results show strong premium growth

Liberty Mutual reported strong premium growth as its chair and CEO David Long, welcomed “improved” market conditions and “robust” international growth.

Net written premiums (NWP) for 2018 were $39.1 billion representing an increase of 6.3 percent from $36.8 billion in 2017.  NWP in the fourth quarter of 2018 increased by 6.2 percent to $9.4 billion, up from $8.8 billion in the same three months in 2017.

The company reported a net income of $2.16 billion for 2018 an increase of $2.14 billion from $19 million in 2017. The same measure also increased in the fourth quarter of 2018 to $249 million up 21.5 percent from $205 million for the same period in 2017.

Liberty’s combined ratio for 2018 improved 6.4 points to 99.2 percent from 105.6 percent in 2017, despite the fact the 2018 figure included the impact of catastrophes and net incurred losses for previous years.

David Long, Liberty Mutual chairman and chief executive officer, said: “Premium growth was strong at 6.3 percent for the year as market conditions improved domestically and international growth remained robust at 13.1 percent.

“Net income was $2.2 billion despite another year of above average catastrophe losses. The combined ratio for the full year improved 6.4 points to 99.2% and our investment portfolio again delivered strong results. Our new operating structure, forming global retail markets and global risk solutions, is delivering tangible results and has us well positioned to continue to improve performance.”

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