Liberty Q2 boosted by investment turnaround

Liberty Mutual recorded an improved investment result in the
second quarter, as its underwriting result remained negative and it
was forced to strengthen reserves.
The mutual insurer recorded a combined ratio of 102.7 percent
for the period, 1.3 percentage points worse than a year earlier.
Excluding catastrophes and reserve development, the underlying
ratio rose 1.5 points to 93.8 percent.
Reserves were strengthened by $45mn for prior-year events,
whereas in the same period last year Liberty Mut