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Liberty Mutual Q1 profit doubles on lower cat losses, strong underwriting - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Liberty Mutual Q1 profit doubles on lower cat losses, strong underwriting by Louise Esola Tim Sweeney Catastrophes , Financial Results , P/C Insurers Liberty Mutual May 7, 2026 Liberty Mutual on Thursday reported first-quarter net income attributable to LMHC of $2.05 billion, compared with $1.03 billion in the same period last year, as sharply lower catastrophe losses and continued underwriting strength boosted results, the company said in a statement. Chairman and CEO Tim Sweeney said the insurer posted “excellent first-quarter results,” highlighting a consolidated combined ratio of 88.2%, an 8.4-point improvement from 96.6% in the year-ago period. He said the improvement was driven primarily by significantly lower catastrophe losses, while the company’s underlying combined ratio of 84.1% reflected the strength of its core underwriting operations. Catastrophe losses fell to $569 million in the quarter from $1.82 billion in the prior-year period, helping lift pre-tax operating income before limited partnership income to $2.16 billion, nearly double the $1.09 billion reported a year earlier. Limited partnership income also increased 67.8% to $616 million. Total net written premium rose 3.4% to $11.13 billion from $10.76 billion in the first quarter of 2025. U.S. Retail Markets generated $6.18 billion in net written premium, up 2%, while Global Risk Solutions rose 5.3% to $4.95 billion. Liberty Mutual reported total revenue of $12.77 billion, up 2.3% year over year, while consolidated net income nearly doubled to $2.06 billion. Cash flow from continuing operations increased 95.2% to $857 million. Total equity rose 3.6% to $41.3 billion as of March 31. “With the strongest balance sheet in our history, we have the financial foundation and the discipline to pursue profitable growth in increasingly competitive markets,” Mr. Sweeney said in the statement. 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