NU Online News Service, March 6, 12:25 p.m. EST

Net income at Liberty Mutual Insurance fell nearly 51 percent in the fourth quarter of 2011 and about 78 percent for the year on catastrophe losses and reserve strengthening.

Liberty Mutual fourth quarter net income stood at $284 million, down from $576 for the same period in 2010. The combined ratio for the period was 104.2, up 5 points from the fouth quarter of 2010.

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