NU Online News Service, May 5, 3:33 p.m. EDT

Liberty Mutual Group reported first-quarter net income of $28 million, a 92.2 percent decrease from the $360 million in net income reported in the 2008 first quarter.

Private equity losses hurt the quarterly results, and Edmund F. Kelly, chairman, president and CEO of Liberty Mutual, attributed those losses to the struggling capital markets.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Personal Lines