Liberty Q1 net income tumbles $300m
Liberty Mutual Group, the US (re)insurance giant, said that net income tumbled over $330m to $28m for the first three months of the year, down from $360m this time last year.
The loss was tied to private equity investments, which Liberty with a loss of $373m, down from a gain of $60m in the first quarter of 2008.Bloomberg remarked that Liberty is the third big
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