Liberty Mutual Group has reported a third-quarter net loss of $US111 million ($106 million) – a big drop from the $US567 million ($545 million) profit achieved in the corresponding period last year.

Net written premiums for the quarter were $US8.155 billion ($7.842 billion), with total revenue for the third quarter increasing by 4.5% to $8.77 billion ($8.43 billion).

President and CEO David Long says Liberty Mutual’s international companies “grew at a double-digit rate with improved profitability, and our domestic commercial lines businesses achieved price increases higher than the prior quarter”.

Mr Long says the company remains committed to disciplined underwriting but will shed business if returns are inadequate.