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Liberty Mutual reports higher Q2 2026 net income and improving combined ratio
Q2 revenue rose 6.0% year over year to $13.251 billion, while the Q2 combined ratio improved to 86.4% as catastrophe losses fell to $455 million.
Liberty Mutual Holding Company reported second-quarter 2026 net income of $2.634 billion, alongside an improved combined ratio of 86.4%, according to Reinsurance News.
For the first half of 2026, the insurer said net income totaled $4.686 billion and the combined ratio improved to 87.3%. In comparison, Liberty Mutual reported a 87.2% combined ratio for Q2 2025 and 91.9% for H1 2025.
Total revenue in Q2 2026 rose 6.0% year over year to $13.251 billion, and H1 2026 revenue increased 4.2% to $26.025 billion. The company also reported total net written premiums of $11.088 billion in Q2 2026, down 1.1% from the prior-year quarter.
Liberty Mutual said catastrophe losses in Q2 2026 were $455 million, down 43.7% from Q2 2025, contributing to a 0.8-point combined ratio improvement. The outlet also noted Q2 underwriting expense ratio of 31.9%, underlying combined ratio of 84.5%, and that CEO Tim Sweeney characterized the quarter as strong for net income and profitability.