Liberty Mutual reports a fourth quarter net loss of $234 million, primarily driven by $576 million in after-tax losses from Superstorm Sandy.
"It's no surprise that our quarterly results were impacted by Superstorm Sandy, but despite this loss, for the full year we showed significant improvement in profitability over 2011," said President and CEO David H. Long, noting the storm produced 100,000 claims, about double what Liberty suffered from Hurricane Katrina in 2005.
Net income for the full year increased by 132 percent to $829 million.
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