Liberty Mutual Group has reported a net loss of $111m and net income of $81m for the three and nine months ended 30 September 2011, versus net income of $567m and $1.1bn in the same periods in 2010.
Revenues for the three months ended 30 September 2011 were $8.767bn, an increase of $380m or 4.5% over the same period in 2010.
Net written premium for the three months ended 30 September 2011 was $8.155bn, an increase of $435m or 5.6% over the same period in 2010.
Pre-tax operating loss before private equity income for the three months ended 30 September 2011 was $341m versus $513m of pre-tax operating income before private equity income in the same period in 2010.
Revenues for the nine months ended 30 September 2011 were $25.708bn, an increase of $1.065bn or 4.3% over the same period in 2010.
Net written premium for the nine months ended 30 September 2011 was $23.461bn, an increase of $1.249bn or 5.6% over the same period in 2010.
Liberty Mutual Group president and CEO David Long said severe weather and an increase in asbestos-related reserves overshadowed strong and improving core performance and resulted in a loss for the quarter.