Liberty Mutual Insurance Reports Second Quarter 2025 Results

BOSTON, Aug. 6, 2025 /PRNewswire/ — Liberty Mutual Holding Firm Inc. and its subsidiaries (collectively “LMHC” or the “Firm”) reported web revenue attributable to LMHC of $1.845 billion and $2.870 billion for the three and 6 months ended June 30, 2025, versus revenue of $717 million and $2.252 billion for a similar durations in 2024.

Liberty Mutual Insurance (PRNewsfoto/Liberty Mutual Insurance)

“We delivered robust second quarter outcomes, with web revenue attributable to LMHC of $1.8 billion pushed by disciplined underwriting and wonderful funding efficiency,” mentioned Tim Sweeney, Liberty Mutual Chairman & Chief Govt Officer. “Our mixed ratio improved by 12.4 factors to 87.2%, reflecting the influence of our underwriting actions and strategic decisions revamped the previous two years. These outcomes show significant progress towards our 95% mixed ratio goal and create confidence in our path to sustainable, worthwhile progress.”

The tables under define highlights of LMHC’s consolidated monetary outcomes for the three and 6 months ended June 30, 2025.

Internet Written Premium (“NWP”) by Enterprise:

Consolidated NWP by enterprise was as follows:

	Three Months Ended June 30,			Six Months Ended June 30,
$ in Tens of 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
Company and Different	13	(50)	NM	6	(13)	NM
Complete NWP	$11,212	$11,427	(1.9 %)	$21,971	$22,385	(1.8 %)
Overseas alternate impact on progress			–			(0.1)
NWP progress excluding international alternate¹			(1.9 %)			(1.7 %)

1	Decided by assuming fixed international alternate charges between durations.
	NM = Not Significant

Consolidated Results of Operations:

	Three Months Ended June 30,			Six Months Ended June 30,
$ in Tens of millions	2025	2024	Change	2025	2024	Change
Revenues	$12,499	$12,798	(2.3 %)	$24,985	$25,273	(1.1 %)
Underlying PTOI earlier than restricted partnerships revenue	2,667	2,444	9.1	5,378	4,373	23.0
Catastrophes	(808)	(1,742)	(53.6)	(2,629)	(2,569)	2.3
Internet incurred losses attributable to prior years:
– Asbestos and environmental¹	–	–	–	–	–	–
– All different²	241	(24)	NM	437	(18)	NM
Pre-tax working revenue earlier than restricted partnerships revenue	2,100	678	NM	3,186	1,786	78.4
Restricted partnerships revenue³	410	466	(12.0)	777	625	24.3
Pre-tax working revenue	2,510	1,144	119.4	3,963	2,411	64.4
Internet realized losses	(123)	(162)	(24.1)	(193)	(254)	(24.0)
Acquisition & integration prices	(28)	(19)	47.4	(52)	(40)	30.0
Restructuring prices	(8)	(19)	(57.9)	(23)	(25)	(8.0)
Pre-tax revenue	2,351	944	149.0	3,695	2,092	76.6
Revenue tax expense	501	232	115.9	816	502	62.5
Consolidated web revenue from persevering with operations	1,850	712	159.8	2,879	1,590	81.1
Discontinued operations, web of tax	–	10	(100.0)	–	673	(100.0)
Consolidated web revenue	1,850	722	156.2	2,879	2,263	27.2
Much less: Internet revenue attributable to non-controlling curiosity	5	5	–	9	11	(18.2)
Internet revenue attributable to LMHC	1,845	717	157.3	2,870	2,252	27.4
Internet revenue attributable to LMHC excluding unrealized influence⁴	1,847	717	157.6	2,988	2,260	32.2
Money circulation supplied by persevering with operations	$1,765	$1,414	24.8 %	$2,204	$2,315	(4.8 %)

1	Asbestos and environmental is gross of the associated opposed improvement reinsurance (the “NICO Reinsurance Transaction”, which is described additional in Reinsurance).
2	Internet of earned premium and reinstatement premium attributable to prior years of $2 million and $93 million for the three and 6 months ended June 30, 2025, and $104 million and $112 million for a similar durations in 2024.
3	Restricted partnerships revenue consists of LP, LLC and different fairness methodology revenue inside web funding revenue within the accompanying Consolidated Statements of Operations and income and bills from direct investments in pure assets.
4	Excludes unrealized features on fairness securities and the corresponding tax influence.
	NM = Not Significant

Mixed Ratio:

	Three Months Ended June 30,			Six Months Ended June 30,
CONSOLIDATED	2025	2024	Change (Factors)	2025	2024	Change (Factors)
Mixed ratio
Claims and declare 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 mixed 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
Internet incurred losses attributable to prior years:
– Asbestos and environmental	–	–	–	–	–	–
– All different¹	(2.2)	0.2	(2.4)	(2.1)	0.2	(2.3)
Complete mixed ratio	87.2 %	99.6 %	(12.4)	91.9 %	97.7 %	(5.8)

Internet of earned premium and reinstatement premium attributable to prior years.

The mixed ratio, expressed as a share, is a measure of underwriting profitability. This measure ought to solely be used along side, and never in lieu of, underwriting revenue and will not be similar to different efficiency measures utilized by the Firm’s opponents. The mixed ratio is computed because the sum of the next property and casualty ratios: the ratio of claims and declare adjustment expense much less managed care revenue to earned premium; the ratio of insurance coverage working prices plus amortization of deferred coverage acquisition prices much less third-party administration revenue and price revenue (primarily associated to the Firm’s involuntary market servicing provider operations) and installment costs to earned premium; and the ratio of policyholder dividends to earned premium. Provisions for uncollectible premium and reinsurance aren’t included within the mixed ratio until associated to an asbestos and environmental commutation and sure different run off. Restructuring and acquisition and integration prices aren’t included within the mixed ratio.

Fairness:

	As of June 30,	As of December 31,
$ in Tens of millions	2025	2024	Change
Unassigned fairness	$37,244	$34,374	8.3 %
Collected different complete loss	(2,602)	(3,928)	(33.8)
Non-controlling curiosity	211	206	2.4
Complete fairness	$34,853	$30,652	13.7 %

Trump claims to be the only U.S. president who donates his salary

August 6, 2025

Hiroshima survivors fear rising nuclear threat on the 80th anniversary of atomic bombing – WSB-TV Channel 2

August 6, 2025

Subsequent Occasions

Administration has assessed materials subsequent occasions by means of August 6, 2025, the date the monetary statements have been accessible to be issued.

Monetary Info

The Firm’s monetary outcomes, administration’s dialogue and evaluation of working outcomes and monetary situation, accompanying monetary statements and different supplemental monetary data for the three and 6 months ended June 30, 2025 can be found on the Firm’s Investor Relations web site at www.libertymutualgroup.com/investors.

Convention Name Info

On August 7, 2025, at 10:00 a.m. Jap Time, Tim Sweeney, Liberty Mutual Insurance Chairman and CEO, will host a convention name to debate the Firm’s second quarter monetary outcomes. To take part within the occasion by way of phone and to ask a query, please dial 844-481-2837 and request to hitch into the Liberty Mutual Insurance name. To hearken to the decision on-line by way of PC and think about a presentation on monetary efficiency, please log into https://event.choruscall.com/mediaframe/webcast.html?webcastid=IdkOPAPX. Following the decision, a recording of the occasion might be accessible on the Investor Relations part of Liberty Mutual’s web site, www.libertymutualgroup.com/investors.

About Liberty Mutual Insurance

At Liberty Mutual, we imagine progress occurs when folks really feel safe. For greater than 110 years we now have helped folks and companies embrace at this time and confidently pursue tomorrow by offering safety for the sudden and delivering it with care.

A Fortune 100 firm with greater than 40,000 staff in 28 nations and economies, we’re the ninth largest world property and casualty insurer and generate greater than $50 billion in annual consolidated income.

We function by means of three strategic enterprise items: US Retail Markets, offering auto, dwelling, renters and different private and small business traces property and casualty insurance coverage to people and small companies countrywide; International Danger Options, delivering a full vary of complete business and specialty insurance coverage, reinsurance and surety options to mid-size and enormous companies worldwide; and Liberty Mutual Investments, deploying greater than $100 billion of long-term capital globally throughout its built-in platform to drive financial progress, energy innovation and safe Liberty Mutual’s guarantees.

For extra data, go to www.libertymutualinsurance.com.

Cautionary Assertion Relating to Ahead Wanting Statements

This report accommodates ahead wanting statements which might be supposed to boost the reader’s means to evaluate the longer term monetary and enterprise efficiency of the Firm. Ahead wanting statements embody, however aren’t restricted to, statements that signify the Firm’s beliefs regarding future operations, methods, monetary outcomes, funding market fluctuations, or different developments, and include phrases and phrases akin to “might,” “expects,” “ought to,” “believes,” “anticipates,” “estimates,” “intends” or comparable expressions. As a result of these forward-looking statements are primarily based on estimates and assumptions which might be topic to important enterprise, financial and aggressive uncertainties, a lot of that are past the Firm’s management or are topic to alter, precise outcomes could possibly be materially totally different.