Liberty Mutual 2010 results
Liberty Mutual Holding Company Inc consolidated results year ended 31 December ● $m Category 2006 2007 2008 2009 2010 Gross written premium 24,499.0 26,164.0 30,275.0 33,237.0 34,116.0 Net written premium 20,555.0 22,538.0 25,467.0 28,258.0 29,191.0 Increased NWP % 14.0 9.6 13.0 11.0 3.3 Retention % 83.9 86.1 84.1 85.0 85.6 Net earned premium 19,794.0 21,887.0 25,524.0 27,791.0 28,699.0 Claims incurred 14,609.0 16,118.0 18,894.0 20,169.0 20,984.0 Claims incurred % NEP 73.8 73.6 74.0 72.6 73.1 Operating expenses 6,240.0 7,144.0 8,094.0 9,028.0 9,253.0 Operating expenses % NWP 30.4 31.7 31.8 31.9 31.7 Underwriting result (1,055.0) (1,375.0) (1,464.0) (1,406.0) (1,538.0) Underwriting result % NWP (5.1) (6.1) (5.7) (5.0) (5.3) Combined ratio % 99.3 100.2 100.1 99.9 100.1 Life GWP - - - - - Life NWP - - - - - Life result - - - - - Net investment income 2,548.0 2,885.0 2,880.0 2,482.0 3,328.0 Net realised gains/(losses) 343.0 436.0 (330.0) 26.0 402.0 Pre-tax result 2,258.0 2,172.0 1,253.0 1,210.0 2,315.0 Pre-tax % NWP 11.0 9.6 4.9 4.3 7.9 Net result 1,626.0 1,501.0 1,113.0 1,023.0 1,678.0 Shareholders' funds 10,895.0 12,636.0 10,403.0 14,514.0 16,978.0 Solvency margin % 53.0 56.1 40.8 51.4 58.2 Unearned premium reserve 9,343.0 10,625.0 12,944.0 13,224.0 13,977.0 Outstanding claims reserve 26,144.0 30,102.0 35,888.0 36,303.0 36,533.0 Total technical provisions 43,736.0 49,608.0 58,121.0 59,413.0 60,920.0 Technical reserves as % NWP 212.8 220.1 228.2 210.3 208.7 Overall coverage as % NWP 265.8 276.2 269.1 261.6 266.9