Battered by hurricanes, Liberty Mutual’s 2017 profit plummets from $1B to nearly zero

Liberty Mutual Group barely posted a profit in 2017, after bringing in just over $1 billion the year prior, thanks in part to a series of devastating hurricanes last summer and fall.

The Boston-based insurance giant reported net income of $17 million on the year, $989 million less than it made in 2016. Liberty Mutual, which is not publicly traded but instead owned by its policyholders, is the second-largest Massachusetts-based company based on revenue, behind only General Electric Co.

In a statement,…

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