Liberty Mutual falls to Q1 underwriting loss

Liberty Mutual Insurance slid to a first-quarter underwriting
loss reflecting severe weather events that helped drive down
overall operating profit.
The carrier revealed its combined ratio jumped 5.2 points to
101.5 percent in the first quarter as it posted the results today,
including 7.7 points from catastrophe losses.
Net operating income plunged 65 percent to $144mn as cat losses
leaped almost 68 percent to $639mn.
The heightened cat loss figure resulted from severe wind and
hail storms duri