Liberty Mutual Holding Company has reported a net income of $300 million for the second quarter ended June 30, 2008, a decrease of $39 million or 11.5% from the same period in 2007.
Revenues for the quarter were $6.95 billion, a growth of $653 million or 10.4% from the comparable period in 2007. Net written premium improved $802 million or 14.6% to $6.27 billion compare to the net written premiums posted in the 2007 second quarter.
Net income for the six months ended June 30, 2008 was $660 million, a decrease of $29 million or 4.2% from the same period in 2007. Revenues for the period were $13.83 billion, up $1.4 billion or 11.2% over the corresponding period in 2007.
Total assets of the company were $99.9 billion as of June 30, 2008, an increase of $5.14 billion over December 31, 2007.
Edmund Kelly, chairman, president and CEO of Liberty Mutual, said: While the economic slowdown in the US remains a concern, inflation is a greater concern, but we are extremely well-positioned globally to compete successfully across a broad range of market conditions.