Liberty Mutual estimates $550M pretax losses from Hurricane Helene

Liberty Mutual Holding Co. Inc. said Monday it sustained $550 million in estimated pretax losses from Hurricane Helene that will be reflected in its third-quarter financial report.

Estimated losses from Hurricane Milton are still developing but are currently between $250 million and $350 million, the insurer said. Those losses will be recorded in the fourth quarter.

Liberty Mutual also said its net written premiums for the third quarter were $12 billion. Net income for the third quarter was $900 million, inclusive of hurricane losses.

The insurer will officially release its third-quarter financial report on Nov. 7.