{"id":364,"date":"2025-03-06T08:30:41","date_gmt":"2025-03-06T09:30:41","guid":{"rendered":"https:\/\/esportslegendary.com\/?p=364"},"modified":"2025-03-06T13:05:30","modified_gmt":"2025-03-06T13:05:30","slug":"liberty-mutuals-2024-net-income-hits-4-38bn-as-cor-improves","status":"publish","type":"post","link":"https:\/\/esportslegendary.com\/index.php\/2025\/03\/06\/liberty-mutuals-2024-net-income-hits-4-38bn-as-cor-improves\/","title":{"rendered":"Liberty Mutual\u2019s 2024 net income hits $4.38bn as CoR improves"},"content":{"rendered":"

Liberty Mutual has reported a net income of $4.383 billion for 2024, up considerably from the $213 million recorded in 2023.<\/p>\n

\"liberty-mutual-insurance-logo\"Meanwhile, the firm\u2019s total net written premium for 2024 was $44.963 billion, with Liberty Mutual\u2019s US Retail Markets segment contributing $28.279 billion and its Global Risk Solutions segment adding $16.416 billion.<\/p>\n

Liberty Mutual reported a total revenue of $50.218 billion for 2024, reflecting a 1.6% increase from the previous year, while catastrophe losses declined significantly, falling 17% year-over-year to $3.89 billion.<\/p>\n

With this in mind, Liberty Mutual\u2019s total 2024 combined ratio was 95.9%, down from 102.7% in 2023.<\/p>\n

The firm also recorded $683 million in net incurred losses attributable to prior years but benefited from a $1.266 billion boost in limited partnership income.<\/p>\n

As mentioned, Liberty Mutual\u2019s net income was $4.383 billion in 2024, up $213 million in 2023. For Q4 alone, net income was $1.239 billion, another vast improvement over Q4 2023.<\/p>\n

Tim Sweeney, Liberty Mutual President & Chief Executive Officer, commented, \u201cWe are making remarkable progress toward our goal of achieving a 95% combined ratio in 2025, driven by underwriting and expense discipline in both US Retail Markets and Global Risk Solutions.<\/p>\n

\u201cThis progress sets a solid foundation for future success, and we are committed to maintaining this discipline as we now seek to grow in select segments. We are now in a position to pursue profitable growth in the areas where we have achieved target profitability.\u201d<\/p>\n

Liberty Mutual provided a preliminary pre-tax estimate of catastrophe losses related to the California wildfires, placing the figure at $1.2 billion. This amount will be recorded in the company\u2019s Q1 2025 financial statements.<\/p>\n

According to the firm, the estimate includes projected assessments from the California FAIR Plan and reinsurance recoveries, net of reinstatement premium.<\/p>\n

The post Liberty Mutual\u2019s 2024 net income hits $4.38bn as CoR improves<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Liberty Mutual has reported a net income of $4.383 billion for 2024, up considerably from the $213 million recorded in 2023. Meanwhile, the firm\u2019s total net written premium for 2024 was $44.963 billion, with Liberty Mutual\u2019s US Retail Markets segment contributing $28.279 billion and its Global Risk Solutions segment adding $16.416 billion. Liberty Mutual reported…<\/p>\n","protected":false},"author":1,"featured_media":366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reinsurance"],"_links":{"self":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/comments?post=364"}],"version-history":[{"count":2,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/364\/revisions"}],"predecessor-version":[{"id":367,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/364\/revisions\/367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/media\/366"}],"wp:attachment":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/media?parent=364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/categories?post=364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/tags?post=364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}