Liberty Mutual's profits flat as CR narrows

Liberty Mutual's post-tax operating income went up by 0.5
percent to $405mn for the three months to 31 March, as the
insurer's combined ratio improved but investment returns
dipped.
The carrier also reported that net income was up 42.4 percent
year-on-year to $393mn in the first quarter.
The first quarter of last year had included a one-off benefit of
$91mn due to a reduction in the estimated prior years'
liability for state assessments related to workers'
compensation.
The rise in...