Liberty Mutual Insurance Financial Performances from Time to Time- Liberty Mutual Group is an American insurance companies that has become one of the biggest property and casualty insurer in the United States. Operationally, Liberty Mutual Insurance still has central office in Berkeley Street, Boston, Massachusetts. Historically, this company was founded July 1, 1912. Along with business developments, Liberty Mutual Insurance company has employed over 50,000 people in 29 countries and economies around the world. Based on the performance, Liberty Mutual was 6th largest global property and casualty insurer based on 2021 gross written premium. Furthermore, this company also was included in the Fortune List at 86th rank based on 2022 revenue.
Based on its business products, Liberty Mutual Insurance consist of three business units namely, Personal Insurance Lines, Commercial Insurance Lines, and Liberty Mutual Investments (LMI). In the insurance business, Liberty Mutual has some insurance products including.
- Auto & Vehicle (Car, Motorcycle, Boat & Watercraft, Antique & Classic Car, ATV & Off-Road Vehicle, Recreational Vehicle (RV), Umbrella)
- Property (Homeowners, Renters, Condo, Landlord, Mobile Home Insurance, Flood, Umbrella)
- Other Insurance (Life, Accident Insurance, Critical Illness, Identity Theft, Pet Insurance, Tuition Insurance, and Small Business)
As one of the biggest companies in insurance industries, Liberty Mutual shown relatively satisfactory performance from time to time. In this article, the measurement is in Net premium written (NPW), Revenue, Net income, Assets, Liabilities, and Equities conditions.
Net Written Premium of Liberty Mutual from Time to Time
| Years | Net Written Premium |
|---|---|
| $ in Millions | |
| 2022 | $ 48,227 |
| 2021 | $ 43,679 |
| 2020 | $ 40,624 |
| 2019 | $ 39,814 |
| 2018 | $ 39,100 |
| 2017 | $ 36,789 |
| 2016 | $ 35,714 |
| 2015 | $ 34,533 |
| 2014 | $ 36,275 |
| 2013 | $ 35,116 |
| Source : Liberty Mutual Insurance Annual Report, 2015-2022 | |
The Net Written Premium of Liberty Mutual Insurance from Time to Time showed positive conditions. There are some growths of Written Premium from 2013 to 2022. in the year of 2013, the written premium of Liberty Mutual was $ 35,116 million. Meanwhile, after nine years, it has grown into $ 48,227 million in 2022. Of all net Written Premium (NWP) in 2022, the main contributors of Liberty Mutual’s Net Written Premium came from Private passenger automobile with value around $ 16,184 million, Homeowners ($ 9,539 million), Global Risk Solutions specialty insurance ($ 4,220 million), Commercial property ($ 2,596 million), Global Risk Solutions reinsurance ($ 2,573 million), Global Risk Solutions casualty ($ 2,399 million), and commercial automobile ($ 2,334 million).
Revenue and Net Income of Liberty Insurance from Time to Time
| Years | Revenue | Net Income |
|---|---|---|
| $ in Millions | $ in Millions | |
| 2022 | $ 49,956 | $ 419 |
| 2021 | $ 48,200 | $ 3,070 |
| 2020 | $ 40,624 | $ 760 |
| 2019 | $ 39,814 | $ 1,038 |
| 2018 | $ 41,568 | $ 2,161 |
| 2017 | $ 39,409 | $ 19 |
| 2016 | $ 38,308 | $ 1,069 |
| 2015 | $ 37,617 | $ 534 |
| 2014 | $ 39,631 | $ 1,809 |
| 2013 | $ 38,398 | $ 1,760 |
| Source : Liberty Mutual Insurance Annual Report, 2015-2022 | ||
The revenue performance of Liberty mutual also has good conditions. In the year of 2013, the revenue of Liberty Mutual was $ 38,398 million. After more than 8 years, the revenue has grown into $ 49,956 million. In the Net income’s aspects, the performance of net income relatively unstable but still in positive conditions without suffered net losses. In 2013, the net income of Liberty mutual was $ 1,760 million and in 2022, the net income of liberty mutual was $ 419 million. The least net income of the Liberty Mutual was in 2017 with value $ 19 million.
Assets, Liabilities, and Equities of Liberty Insurance from Time to Time
| Years | Assets | Liabilities | Equities |
|---|---|---|---|
| $ in Millions | $ in Millions | $ in Millions | |
| 2022 | $ 32,808 | $ 10,600 | $ 22,208 |
| 2021 | $ 37,502 | $ 9,654 | $ 27,848 |
| 2020 | $ 34,784 | $ 8,827 | $ 25,957 |
| 2019 | $ 31,819 | $ 8,200 | $ 23,619 |
| 2018 | $ 28,995 | $ 8,233 | $ 20,762 |
| 2017 | $ 29,013 | $ 8,325 | $ 20,688 |
| 2016 | $ 27,990 | $ 7,603 | $ 20,387 |
| 2015 | $ 26,430 | $ 7,189 | $ 19,241 |
| Source : Liberty Mutual Insurance Annual Report, 2015-2022 | |||
Financially, in 2015, The assets of the Liberty Mutual was about $ 26,430 million and became $ 32,808 million in 2022. Based on debts, the total debts of Liberty Mutual was $ 7,189 million in 2015 and increased into $ 10,600 million. Furthermore, the equities of the Liberty were about $ 19,241 million in 2015 and it has grown into $ 22,208 million in 2022. Overall, all the data came from Financial Report of The Liberty Mutual.
Bibliography of Liberty Mutual Insurance Financial Performance from Time to Time
Liberty Mutual. 2023.Financial Reports 2015-2022. via https://www.libertymutualgroup.com/about-lm/investor-relations/overview on July 19th, 2023.
