Liberty Mutual profits rose in 2006

BOSTON--Liberty Mutual Group Inc. earned net income of $1.63 billion during 2006, up $599 million over the prior year, the insurer said Monday.

In a statement, Boston-based Liberty Mutual said it benefited from low levels of hurricane activity last year and "the continuation of strong current accident year underwriting and investment results."

Revenue for 2006 increased to $23.52 billion, up 11.1% over 2005. Net written premium climbed to $20.63 billion, up 14.1% from the prior year.