As with its peers, business at the Boston-based property and casualty insurance company sunk considerably in the wake of severe weather and auto collisions and resulting catastrophe claims. The company ended 2016 with revenues of $38.3 billion and profits of $1 billion, a 96% increase over 2015. But its final three months of the year were the opposite, with profits down 65% to $143 million from the same quarter the year before. 2017 hasn’t been much better: Liberty Mutual recorded profits of $351 million in the first quarter, a 13% decrease from the same period in 2016. In May the 104-year-old insurer acquired specialty lines company Ironshore from Fosun International; earlier in the year it acquired Penta Security in Chile, helping it become the largest provider of property and casualty insurance in the country.
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