Although Liberty Mutual reported worse underwriting results and lower net income in 2023 compared to the prior year, executives pointed to the momentum of the final quarter as an indicator of what’s ahead.
“We made solid progress toward our 95 combined ratio target through rate increases, disciplined top line management, and significant expense reductions,” said President and Chief Executive Officer Tim Sweeney, during an earnings conference call, commenting on Liberty Mutual’s “ongoing progress toward [its] enterprise financial targets during the quarter” amid a “challenging personal lines environment and an evolving commercial