Liberty Hikes Pollution Reserves $316 Million
Liberty Mutual announced a pollution reserve boost of more than $300 million last week an action that did not disturb an improving earnings picture for 2004.
While the reserve hike nearly doubled the level of the Boston-based insurer's pollution reserves, and while results were also pummeled by $697 million in net pre-tax catastrophe losses, Liberty's net income still jumped 46.3 percent for the year to $1.2 billion from $851 million in 2003.
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