Liberty Mutual Holding Company Inc. and its subsidiaries (collectively “LMHC” or the “Company”) today reported net income of $139 million and $598 million for the three and six months ended June 30, 2012, increases of $318 million and $413 million over the same periods in 2011.
“Second quarter premium growth of 8% was driven by continued momentum in U.S. personal lines, rate increases in U.S. commercial lines, and robust international results despite significant strengthening of the dollar,” said David H. Long, President and CEO of Liberty Mutual Insurance. “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.”
And continues to argue for increased higher US rates:
Liberty’s Long Faults States on Workers’ Comp Rates; Q2 Profit Positive (Property Casualty 360)
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