Liberty Mutual and its subsidiaries reported a net income of $139m and $598m for the three and six months ended 30 June 2012, with an increase of $318m and $413m over the same periods in 2011.
Net income attributable to LMHC for the second quarter of 2012 was $139m compared to $179m of net loss attributable to LMHC in the same period in 2011.
Liberty Mutual Insurance president and CEO David Long said that the second quarter premium growth of 8% was driven by continued momentum in US personal lines, rate increases in US commercial lines, and robust international results despite significant strengthening of the dollar.
"Additionally our profitability improved significantly in the quarter despite catastrophe losses continuing to run at an elevated level. The quarter was a busy one, including a significant debt restructuring, the sale of our Argentina workers compensation company, assimilation of KIT in Russia, and gaining approval to begin writing business in India," Long added.
For the latest quarter period, the underwriter reported revenues of $9.1bn, with an increase of $597m or 7% over the same period in last fiscal.
Net written premium (NWP) for the three months ended on 30 June 2012 was $8.335bn, up by 8.2% or $633m over the same period in 2011.
LMHC, through its subsidiaries and affiliated companies, offers a wide range of property-casualty insurance products and services to individuals and businesses across the US.