In corporate news:

David Long, chairman and CEO of Liberty Mutual described the company’s second quarter results as “messy” during a conference call with analysts yesterday. Long was referring to Liberty Mutual’s steep 36 percent decline in consolidated net income to $249 million, 20 percent increase in catastrophe losses, and decrease in consolidated pre-tax operating income from $382 million to $171 million. Net operating income for the quarter was $115 million, a decrease of $263 million or 69.6 percent from the same period in 2014. Long cited difficulty in bringing in new commercial lines business at stable prices and the recent merger of ACE and Chubb as challenges.

Read full coverage from Insurance Journal here.

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