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Yahoo
5 days ago
- Business
- Yahoo
Liberty Mutual Insurance Reports Second Quarter 2025 Results
BOSTON, Aug. 6, 2025 /PRNewswire/ -- Liberty Mutual Holding Company Inc. and its subsidiaries (collectively "LMHC" or the "Company") reported net income attributable to LMHC of $1.845 billion and $2.870 billion for the three and six months ended June 30, 2025, versus income of $717 million and $2.252 billion for the same periods in 2024. "We delivered strong second quarter results, with net income attributable to LMHC of $1.8 billion driven by disciplined underwriting and excellent investment performance," said Tim Sweeney, Liberty Mutual Chairman & Chief Executive Officer. "Our combined ratio improved by 12.4 points to 87.2%, reflecting the impact of our underwriting actions and strategic choices made over the past two years. These results demonstrate meaningful progress toward our 95% combined ratio target and create confidence in our path to sustainable, profitable growth." The tables below outline highlights of LMHC's consolidated financial results for the three and six months ended June 30, 2025. Net Written Premium ("NWP") by Business: Consolidated NWP by business was as follows:Three Months Ended June 30, Six Months Ended June 30, $ in Millions 2025 2024 Change 2025 2024 Change USRM $6,909 $7,415 (6.8 %) $12,970 $13,960 (7.1 %) GRS 4,290 4,062 5.6 8,995 8,438 6.6 Corporate and Other 13 (50) NM 6 (13) NM Total NWP $11,212 $11,427 (1.9 %) $21,971 $22,385 (1.8 %) Foreign exchange effect on growth - (0.1) NWP growth excluding foreign exchange1 (1.9 %) (1.7 %) 1 Determined by assuming constant foreign exchange rates between = Not Meaningful Consolidated Results of Operations:Three Months Ended June 30, Six Months Ended June 30, $ in Millions 2025 2024 Change 2025 2024 Change Revenues $12,499 $12,798 (2.3 %) $24,985 $25,273 (1.1 %) Underlying PTOI before limited partnerships income 2,667 2,444 9.1 5,378 4,373 23.0 Catastrophes (808) (1,742) (53.6) (2,629) (2,569) 2.3 Net incurred losses attributable to prior years: - Asbestos and environmental1 - - - - - - - All other2 241 (24) NM 437 (18) NM Pre-tax operating income before limited partnerships income 2,100 678 NM 3,186 1,786 78.4 Limited partnerships income3 410 466 (12.0) 777 625 24.3 Pre-tax operating income 2,510 1,144 119.4 3,963 2,411 64.4 Net realized losses (123) (162) (24.1) (193) (254) (24.0) Acquisition & integration costs (28) (19) 47.4 (52) (40) 30.0 Restructuring costs (8) (19) (57.9) (23) (25) (8.0) Pre-tax income 2,351 944 149.0 3,695 2,092 76.6 Income tax expense 501 232 115.9 816 502 62.5 Consolidated net income from continuing operations 1,850 712 159.8 2,879 1,590 81.1 Discontinued operations, net of tax - 10 (100.0) - 673 (100.0) Consolidated net income 1,850 722 156.2 2,879 2,263 27.2 Less: Net income attributable to non-controlling interest 5 5 - 9 11 (18.2) Net income attributable to LMHC 1,845 717 157.3 2,870 2,252 27.4 Net income attributable to LMHC excluding unrealized impact4 1,847 717 157.6 2,988 2,260 32.2 Cash flow provided by continuing operations $1,765 $1,414 24.8 % $2,204 $2,315 (4.8 %) 1 Asbestos and environmental is gross of the related adverse development reinsurance (the "NICO Reinsurance Transaction", which is described further in Reinsurance). 2 Net of earned premium and reinstatement premium attributable to prior years of $2 million and $93 million for the three and six months ended June 30, 2025, and $104 million and $112 million for the same periods in 2024. 3 Limited partnerships income includes LP, LLC and other equity method income within net investment income in the accompanying Consolidated Statements of Operations and revenue and expenses from direct investments in natural resources. 4 Excludes unrealized gains on equity securities and the corresponding tax = Not Meaningful Combined Ratio:Three Months Ended June 30, Six Months Ended June 30, CONSOLIDATED 2025 2024 Change(Points) 2025 2024 Change(Points) Combined ratio Claims and claim adjustment expense ratio 53.8 % 57.6 % (3.8) 53.9 % 59.8 % (5.9) Underwriting expense ratio 28.3 26.4 1.9 28.1 26.4 1.7 Underlying combined ratio 82.1 84.0 (1.9) 82.0 86.2 (4.2) Catastrophes 7.3 15.4 (8.1) 12.0 11.3 0.7 Net incurred losses attributable to prior years: - Asbestos and environmental - - - - - - - All other1 (2.2) 0.2 (2.4) (2.1) 0.2 (2.3) Total combined ratio 87.2 % 99.6 % (12.4) 91.9 % 97.7 % (5.8) 1 Net of earned premium and reinstatement premium attributable to prior years. 2 The combined ratio, expressed as a percentage, is a measure of underwriting profitability. This measure should only be used in conjunction with, and not in lieu of, underwriting income and may not be comparable to other performance measures used by the Company's competitors. The combined ratio is computed as the sum of the following property and casualty ratios: the ratio of claims and claim adjustment expense less managed care income to earned premium; the ratio of insurance operating costs plus amortization of deferred policy acquisition costs less third-party administration income and fee income (primarily related to the Company's involuntary market servicing carrier operations) and installment charges to earned premium; and the ratio of policyholder dividends to earned premium. Provisions for uncollectible premium and reinsurance are not included in the combined ratio unless related to an asbestos and environmental commutation and certain other run off. Restructuring and acquisition and integration costs are not included in the combined ratio. Equity:As of June 30, As ofDecember 31,$ in Millions 2025 2024 Change Unassigned equity $37,244 $34,374 8.3 % Accumulated other comprehensive loss (2,602) (3,928) (33.8) Non-controlling interest 211 206 2.4 Total equity $34,853 $30,652 13.7 % Subsequent Events Management has assessed material subsequent events through August 6, 2025, the date the financial statements were available to be issued. Financial Information The Company's financial results, management's discussion and analysis of operating results and financial condition, accompanying financial statements and other supplemental financial information for the three and six months ended June 30, 2025 are available on the Company's Investor Relations website at Conference Call Information On August 7, 2025, at 10:00 a.m. Eastern Time, Tim Sweeney, Liberty Mutual Insurance Chairman and CEO, will host a conference call to discuss the Company's second quarter financial results. To participate in the event via telephone and to ask a question, please dial 844-481-2837 and request to join into the Liberty Mutual Insurance call. To listen to the call online via PC and view a presentation on financial performance, please log into Following the call, a recording of the event will be available on the Investor Relations section of Liberty Mutual's website, About Liberty Mutual Insurance At Liberty Mutual, we believe progress happens when people feel secure. For more than 110 years we have helped people and businesses embrace today and confidently pursue tomorrow by providing protection for the unexpected and delivering it with care. A Fortune 100 company with more than 40,000 employees in 28 countries and economies, we are the ninth largest global property and casualty insurer and generate more than $50 billion in annual consolidated revenue. We operate through three strategic business units: US Retail Markets, providing auto, home, renters and other personal and small commercial lines property and casualty insurance to individuals and small businesses countrywide; Global Risk Solutions, delivering a full range of comprehensive commercial and specialty insurance, reinsurance and surety solutions to mid-size and large businesses worldwide; and Liberty Mutual Investments, deploying more than $100 billion of long-term capital globally across its integrated platform to drive economic growth, power innovation and secure Liberty Mutual's promises. For more information, visit Cautionary Statement Regarding Forward Looking Statements This report contains forward looking statements that are intended to enhance the reader's ability to assess the future financial and business performance of the Company. Forward looking statements include, but are not limited to, statements that represent the Company's beliefs concerning future operations, strategies, financial results, investment market fluctuations, or other developments, and contain words and phrases such as "may," "expects," "should," "believes," "anticipates," "estimates," "intends" or similar expressions. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond the Company's control or are subject to change, actual results could be materially different. Contact: Investor Relations Media RelationsRobert Pietsch Rich Angevine857-224-6655 617-833-0926 View original content to download multimedia: SOURCE Liberty Mutual Insurance Sign in to access your portfolio
Yahoo
10-07-2025
- Business
- Yahoo
Fall River's Lapointe Insurance honored for work with Friends of Jack Foundation
Fall River's Lapointe Insurance has been recognized with a 2025 Make More Happen Award for its partnership with the Friends of Jack Foundation, according to a community announcement. The award, given by Liberty Mutual and Safeco Insurance, comes with a $5,000 donation to the foundation, which could be doubled to $10,000 through community support. The Friends of Jack Foundation focuses on providing comfort and emotional support to children facing medical challenges in Massachusetts and Rhode Island. The funds from the award will help sustain two key programs: part-time child life specialists at St. Luke's Hospital in New Bedford and the Superhero Bear program, which aims to brighten the days of children in hospitals across the region. Lapointe Insurance's involvement with Friends of Jack goes beyond a single event. The agency consistently provides financial and promotional support, sponsoring major fundraising events like Casino Night and the Annual Celebration gala. They also participate in the social media "Tutu Challenge" to raise awareness for the cause. For the past two years, Lapointe Insurance has organized a full-scale golf tournament, covering all logistics from venue costs to guest outreach. These efforts have raised over $50,000 and introduced new supporters to the organization. 'Community well-being is at the heart of what we do,' said Bill Lapointe, president of Lapointe Insurance. 'The highlight of our tournament was our 'Tutu Long Drive,' where participants wore the iconic Friends of Jack red tutu and competed for the longest drive while raising funds. Our team rallied donations bay by bay, and what started as a fun challenge turned into something truly meaningful. We're proud to continue supporting families and children when they need it most.' The Make More Happen Awards aim to recognize independent agents' dedication to their communities and nonprofit partners. Throughout 2025, Liberty Mutual and Safeco Insurance will select up to 36 independent agencies nationwide for the award, donating up to $360,000 to nonprofits they support. 'Recognizing independent agents' dedication to their communities and nonprofit partners is what the Make More Happen Awards are all about,' said Erik Hutchinson, senior territory manager at Liberty Mutual and Safeco Insurance. 'Lapointe Insurance is an outstanding example of how agencies can bring creativity and compassion together to make a difference, and we hope their story inspires others to give back.' Agencies become eligible for the award by submitting applications showcasing their commitment to a specific cause. The Lapointe Insurance and Friends of Jack story is featured on the official Make More Happen microsite, where supporters can vote to help the team reach their donation goal. If the story receives at least 500 combined votes and comments, the $5,000 donation will be increased to $10,000. For more information about Liberty Mutual and Safeco Insurance, visit their websites at and This story was created by reporter Beth McDermott, bmcdermott1@ with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more at This article originally appeared on The Herald News: This Fall River insurance agency just earned a national award
Yahoo
02-07-2025
- General
- Yahoo
Watch: Runaway emus found miles from home in Minnesota
July 2 (UPI) -- A pair of emus escaped from their home at a Minnesota farm during a storm and turned up several miles from home. Tom Halek said his emus, Sami and Ali, escaped from a partially-open gate on his Rush City property during weekend storms. "I figured the way they can move, who knows where they'd end up," Halek told CBS Minnesota. The emus were spotted near Rush Lake Road on Sunday before wandering miles from home and ending up in Chisago County. "Calling all Emu owners... We did make calls to Liberty Mutual Insurance, this is not their LiMu Emu. It also isn't Kevin from the popular movie, Up, we verified that by calling Doug. So if you happen to know the owner of this Emu, please have them reach out to dispatch to let us know," the Chisago County Sheriff's Office said on social media. Halek contacted the sheriff's office and learned the birds had been safely contained. "The sheriff called us back and said, 'We know where they're at.'" Halek said. "Somebody else in the area that owns emus also thought they were his, so he ran and he captured them, brought them home and he realized 'Wait a minute, these aren't mine.'" Halek said Sami and Ali are a little spooked from their time on the loose, but otherwise healthy and unharmed.
Yahoo
02-07-2025
- Health
- Yahoo
Liberty Mutual pet insurance review 2025
Liberty Mutual rating: 3.8 out of 5 stars Liberty Mutual pet insurance is worth considering for its excellent pricing and solid range of coverage. There is no special extended waiting period for certain conditions like cruciate ligament problems. Behavioral and alternative therapies are both covered, including physiotherapy, holistic and homeopathic therapies, hydrotherapy, and aromatherapy. On the downside, the highest annual coverage option available is $15,000, compared to top competitors that offer unlimited annual caps. There's also no 24/7 helpline included — a common perk among most competitors. Pros Highly competitive pricing Euthanasia, cremation, and burial are covered Multi-pet discounts of 5% for two pets and 10% for three or more pets Cons Pets ages 13 and older will be offered only the accident-only plan No coverage for prescription food (unless you buy the wellness plan) No 24/7 vet helpline available Requires a comprehensive physical exam of the pet within the last 12 months to buy a policy Liberty Mutual pet insurance basics Annual maximum limit choices: $5,000, $10,000, $15,000 Deductible choices: $250, $500, $1,000 Reimbursement choices: 70%, 80%, 90% Liberty Mutual waiting periods For accident coverage: 14 days For illness coverage: 14 days Special waiting period: None Liberty Mutual age restrictions for buying a new policy Minimum pet age: 8 weeks Maximum pet age: None Liberty Mutual sells an accident and illness plan, an accident-only option, and a wellness plan for routine care costs. Liberty Mutual's policy provides a good selection of coverage, such as: Vet exam fee Hereditary conditions Congenital conditions Diagnostics such as X-rays Cancer Dental accidents Behavioral therapy Alternative therapy End-of-life expenses such as euthanasia Liberty Mutual's accident-only plan covers most of what is provided through its accident and illness policy: Accidental injuries, including dental injuries Cremation and burial expenses Euthanasia and accidental death Ingestion of objects Liberty Mutual's wellness coverage includes the care costs listed above and provides up to $525 in total annual reimbursement for the following types of preventative care: Check-ups Dental cleaning Deworming Dietary food and supplements Flea and tick prevention Heartworm tests and medications Prescription medications Spaying and neutering Vaccinations No, Liberty Mutual does not cover preexisting conditions. A preexisting condition is defined as any illness or injury that occurred or existed — regardless of whether it was diagnosed — before the policy's effective date or during the waiting period. Liberty Mutual's website doesn't mention access to a 24/7 vet helpline. Liberty Mutual pet insurance has some exclusions as far as expenses go, such as: Age-related changes to eyes and ears Breeding and pregnancy Experimental treatments Injuries from intentional, neglectful, or preventable acts Injuries from using your pet for commercial purposes or unlawful acts Obesity (unless part of a medical condition) Although you can request a change to your coverage at any time, here are the details: For decreases: You must submit a written request. For increases: The request must also be in writing and is subject to approval. Plus, you'll be subject to a new waiting period. Price is one of the big selling points for Liberty Mutual pet insurance. Liberty Mutual's pricing was 26% less than the average in our evaluation for pet insurance policies with $5,000 in annual coverage. Liberty Mutual offers a 5% discount if you insure two pets and a 10% discount if you insure three or more pets. No, you must pay your vet and submit a claim to be reimbursed. However, if you expect a large bill due to your pet's needs, you can contact Liberty Mutual in advance to ask if it will make a special arrangement to pay the vet directly. Here's what to know about filing a claim with Liberty Mutual: To make a claim: Submit a detailed invoice and a claim form by mail, email, or through the online customer portal. You must provide a payment receipt if you submit a handwritten invoice. To submit claims quickly: Upload documents through your online account. To receive reimbursements faster: Sign up to receive payments through direct deposit. If your claim is denied: You can appeal the decision. You must file a claim with Liberty Mutual within 90 days of treatment. Liberty Mutual states that it takes an average of 10 days to process a claim. Liberty Mutual, which offers a range of insurance products, has a mobile app that policyholders can use to submit and manage claims. However, it's not created specifically for pet insurance policyholders so it might be limited. Liberty Mutual mobile app ratings: App store: 4.8 out of 5 stars Google Play store: 4.6 out of 5 stars Liberty Mutual pet insurance is available for enrollment in all 50 states and the District of Columbia. Yes, your pet must be examined by a veterinarian within 12 months before getting a policy. You can contact Liberty Mutual by phone, email, and mail: Call Liberty Mutual at 1-844-250-9199 from 8 a.m. to 9 p.m. ET Monday through Friday and 10 a.m. to 7 p.m. ET on Saturday. The email address is service@ The mailing address is Liberty Mutual, 175 Berkeley St., Boston, MA 02116. You can cancel a policy at any time by sending Liberty Mutual a notice in writing. If you cancel within 10 days, you can receive a refund of your premium. If you cancel after 10 days, you'll be refunded on a pro-rated basis. Jamie Young and Tim Manni edited this article. We researched the coverage details and prices for 15 pet insurance plans. We then weighted categories, and each pet insurer was scored relative to the others to find the best pet insurance companies. Here are the factors we incorporated. Coverage types: 40% of score. We examined the coverage provided by the base policy without the extra cost of add-ons. This encompassed coverage for alternative therapy, behavioral therapy, dental illness, euthanasia or end-of-life expenses, exotic pets, hereditary and congenital conditions, preexisting conditions, prescription food and supplements, veterinary exam fees, and advertising/reward for lost/stolen pets. Average cost: 30% of score. We evaluated costs in five states for $5,000 and unlimited coverage for a mixed-breed dog (age 1), a French bulldog (age 5), and a Labrador retriever (age 8). Unlimited coverage option: 10% of score. We gave points when pet insurers offered an unlimited annual limit (or a $100,000 limit), which gives pet owners the most robust financial protection possible in the event of a catastrophic pet medical issue. Direct payments to the veterinarian: 5% of score. We gave points to pet insurers that state on their websites that they accommodate direct vet payments. No special waiting periods for special conditions: 5% of score. We gave points when pet insurers have no waiting periods for special conditions, such as cruciate ligament conditions. Routine wellness plan: 5% of score. Companies that offer a routine wellness plan in addition to pet insurance received points. Multi-pet discount: 5% of score. We gave points when pet insurers offered a discount for insuring multiple pets.
Yahoo
30-06-2025
- Business
- Yahoo
K2 Cyber partners Liberty Mutual to offer cyber insurance for SMEs
K2 Cyber, a division of K2 Insurance Services, has joined forces with Liberty Mutual Insurance and its Ironshore programmes group to provide Intelligent Cyber Insurance for small and medium-sized enterprises (SMEs). The initiative aims to deliver a cyber insurance solution that addresses the risks faced by both businesses and their owners, K2 Cyber said in its press release. The programme offers cyber liability coverage of up to $3m for companies with annual revenues of up to $100m. Liberty Mutual will provide K2 Cyber with delegated underwriting authority and capacity, as well as access to its underwriting expertise, product management, risk engineering, and claims capabilities. Liberty Mutual Cyber Insurance global head Patrick Thielen said: 'We're excited to collaborate with K2 Cyber. Their forward-thinking model addresses the needs of small and medium-sized organisations with sophistication and simplicity. Together, we're delivering an insurance solution that empowers policyholders, brokers and agents alike to respond confidently to cyber threats.' K2 Cyber's model for Intelligent Cyber Insurance is structured to enhance operational efficiency, streamline workflows for brokers and agents, and improve client education regarding cyber risks. K2 Cyber CEO and founder Keith Moore stated: 'We're incredibly grateful to partner with an industry leader like Liberty Mutual. Their commitment to innovation and excellence perfectly aligns with our vision of delivering cyber insurance that goes beyond the policy by providing free, built-in risk engineering, real-time cyber monitoring, and practical security tools tailored for SMBs.' In April 2025, K2 Cyber collaborated with TransUnion to enhance its commercial cyber services and claims management, enabling its policyholders to utilise TransUnion's TruEmpower CyberScout solution. K2 Cyber was established in April 2025 as a managing general agent by K2 Insurance Services. "K2 Cyber partners Liberty Mutual to offer cyber insurance for SMEs " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
