Liberty Mutual Group Inc.

Through Sept. 30, 2024, Liberty Mutual reported a combined ratio (loss and expense) of 97.3%, compared with 105.4% in the same period last year. Underwriting performance improved driven by lower catastrophe losses ($3.7 billion of natural catastrophe losses, down from $4.4 billion over the same period in 2023) and the underwriting actions taken from the prior year. The company's mid-to-large commercial business (Global Risk Solutions) continues to trend well and we also expect sustainable improvement in its personal line, combined with small commercial (U.S retail markets) as rate increases and other nonrate actions take effect. In the first nine months of 2024, Global Risk Solutions, accounting for about 36% of Liberty Mutual's net written premium, generated a combined ratio of

...S&P Global Ratings raised its operating earnings forecast in 2024 and 2025 amid Liberty Mutual Group Inc. (Liberty Mutual)'s pricing action across the business segment. The company performed well in the first nine months of 2024 after several notable rate and nonrate actions, including reducing line size and improving expense efficiency to reach its underwriting target. In addition to raising attachment on certain business segments challenged by a rising loss cost trend, Liberty Mutual also reduced policy-in-force and new business in states prone to catastrophes, doubling its efforts to reduce volatility. Through Sept. 30, 2024, Liberty Mutual reported a combined ratio (loss and expense) of 97.3%, compared with 105.4% in the same period last year. Underwriting performance improved driven by lower catastrophe losses ($3.7 billion of natural catastrophe losses, down from $4.4 billion over the same period in 2023) and the underwriting actions taken from the prior year. The company's mid-to-large...

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