Liberty Mutual's operating results improved and catastrophe losses have been modest, leading to 2012 third-quarter net income of $465 million, compared to a $112 million net loss in 2011's third quarter.
Due to Hurricane Sandy, Liberty Mutual canceled its third-quarter conference call with analysts, but in a statement, President and CEO David H. Long says, "Positive price momentum exists across most lines with the magnitude of increases targeted to where it is needed most, workers compensation and property. This pricing trend will continue given the persistent low-yield environment."
He adds that Liberty Mutual saw growth "where we targeted — personal lines and international — and contraction in underpriced commercial business."
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