Liberty Mutual has posted attributable net income of $2.05bn for the first quarter of 2026 (Q1 2026), compared to $1.02bn in the same period a year earlier.
The US-based insurer’s revenues edged up 2.3% to $12.7bn.
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Pre-tax operating income reached $2.7bn, against $1.4bn a year earlier.
Catastrophe losses dropped 68.8% year-on-year (YoY) to $569m in Q1 2026.
Consolidated net written premium (NWP) totalled $11.12bn, rising 3.4% from $10.7bn in the prior-year period.
Within the business, US retail markets generated $6.1bn in NWP, up 2%, while the global risk solutions segment reported $4.9bn, an increase of 5.3%.
The group’s consolidated combined ratio was 88.2% in the quarter, compared with 96.6% a year before.
Liberty Mutual chairman and CEO Tim Sweeney said: “We posted excellent first-quarter results, with net income attributable to LMHC [Liberty Mutual Holding Company] of $2.1bn and a consolidated combined ratio of 88.2%.
“The 8.4-point combined ratio improvement was driven by significantly lower catastrophe losses, while our underlying combined ratio of 84.1% reflects the continued strength of our core underwriting franchise.”
With more than 40,000 employees, the company operates through three business units: US Retail Markets provides motor, home, renters and other personal and small commercial property and casualty insurance to individuals and small businesses across the country.
Global Risk Solutions offers commercial and specialty insurance, reinsurance and surety products to mid-sized and large businesses worldwide and Liberty Mutual Investments manages more than $100bn in long-term capital globally.
