Liberty Mutual Insurance Issues Statement Regarding 2025 Property Catastrophe Reinsurance Placement

BOSTON, Jan. 27, 2025 /PRNewswire/ -- Liberty Mutual typically provides an annual update of its key reinsurance Property Catastrophe Program as part of its first quarter earnings disclosure materials. Given recent and ongoing events, the Company can disclose that it has the following reinsurance in place for its domestic business as of January 1^st, 2025:

• $2.8B of occurrence limit excess $1B retention with one reinstatement. The initial $1.5B of this limit is available on an All Perils basis.
• The company also purchased an Aggregate Property Catastrophe Program this year to protect against frequency and severity of loss: $500M excess $2.4B aggregate retention, excess $100M per event deductible.

Cautionary Statement Regarding Forward Looking Statements

This release contains forward looking statements that are intended to enhance the reader's ability to assess the future financial and business performance of Liberty Mutual Holding Company Inc., the parent corporation of the Liberty Mutual Insurance group of entities (the "Company" or "LMHC"). Forward looking statements include, but are not limited to, statements that represent the Company's beliefs concerning future operations, strategies, financial results investment market fluctuations, or other developments, and contain words and phrases such as "may," "expects," "should," "believes," "anticipates," "estimates," "intends" or similar expressions. They include statements regarding preliminary estimated results and estimated losses from recent hurricanes. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because these forward-looking statements relate to the future, they are based on expectations, estimates and assumptions that are subject to significant business, economic and competitive uncertainties and changes in circumstances, many of which are beyond the Company's control, difficult to predict, or are subject to change, actual results could be materially different. Therefore, you should not unduly rely on any of these forward-looking statements. See also "Risk Factors" on our website as noted above for examples of factors that can impact our future results. The Company is providing the information above solely on a discretionary basis given current facts and circumstances. The Company, however, (1) does not intend, and does not undertake any obligation to update or revise these forward-looking statements, which speak only as of today's date and (2) is not obligating itself to make any other forward-looking statements in the future.

About Liberty Mutual Insurance

At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow. In business since 1912, and headquartered in Boston, today we are the eighth largest global property and casualty insurer based on 2023 gross written premium. We also rank 87th on the Fortune 100 list of largest corporations in the U.S. based on 2023 revenue. As of December 31, 2023, we had $49.4 billion in annual consolidated revenue. We employ over 40,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property. For more information, visit www.libertymutualinsurance.com.

For additional information, please contact:

Robert Pietsch
Executive Director, Investor Relations and Capital Markets
857-224-6655
[email protected]

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SOURCE Liberty Mutual Insurance