Losses from energy investments caused a drop of more than 90 percent in Liberty Mutual’s 2016 second quarter net income, though net written premium grew and the combined ratio improved slightly.

Net income came in at $15 million, down 94.1 percent from $254 million in the 2015 second quarter. Liberty Mutual’s combined ratio was 101.4 for Q2, 1.2 points better than the same period a year ago.

Liberty Mutual Chairman and CEO David Long noted the significant hit from declining energy investment results.

“Energy investments continue to have a detrimental effect on overall results,” Long said in prepared remarks. “Pre-tax losses from energy were $220 million in the quarter, including $110 million in impairments. Total realized investment losses were $95 million, versus a gain of $241 million last year.”

Here are some of Liberty Mutual’s other Q2 results:

• Net written premium came in at $9 billion, $103 million higher than in the 2015 second quarter.

• Catastrophe losses for the quarter are booked at $832 million, versus $800 million in the 2015 second quarter. Catastrophe events to blame include the Canadian wildfires, Ecuador earthquake, severe U.S. storms and Cyclone Winston.

• Total debt as of June 30 was at $8 billion, a 11.3 percent jump from Dec. 31, 2015.

• Total equity, at $21 billion, was 10.2 percent higher than from the end of 2015.

Source: Liberty Mutual Holding Company