Boston-based insurer Liberty Mutual Group has reported a net income of $362m for the first quarter of 2011, compared to $315m in the same quarter a year ago.
Revenues for the first quarter of 2011 were $8.38bn, compared to $8.19bn in the corresponding quarter of 2010.
In the first quarter of 2011, the net written premium were $7.58bn, an increase of $374m or 5.2% over the same period in 2010.
Pre-tax operating income before private equity income was $231m for the first quarter of 2011, a decrease of $73m, or 24% from the same period in 2010.
Liberty Mutual Group chairman and CEO Ted Kelly said considering the number and magnitude of catastrophic events worldwide, the group is satisfied with its operating results in the first quarter.
"But what is critical is our ability to manage our exposure to these events, which I think we have done very well," Kelly said.