MS&AD Insurance Group announces quarterly results

One unit enjoys 335% rise in attributable net income

MS&AD Insurance Group announces quarterly results

Insurance News

By Terry Gangcuangco

MS&AD Insurance Group, part of which is MS Amlin, has released its interim earnings report for the quarter ended June 30, 2023.

Here’s how the global insurer fared in the quarter:

Metric

Quarter ended June 30, 2023

Quarter ended June 30, 2022

Ordinary income

¥1.98 trillion

¥1.31 trillion

Ordinary profit

¥155.45 billion

¥115.55 billion

Net income attributable to owners of the parent

¥111.62 billion

¥78.14 billion

   

According to MS&AD’s announcement, of the ordinary income, the group’s underwriting income stood at ¥1.39 trillion – a jump from the previous year’s ¥903.42 billion. Investment income for the quarter also improved, to ¥576.09 billion. Other ordinary income, meanwhile, grew to ¥10.61 billion.

In terms of business performance, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance, Mitsui Direct General Insurance, Mitsui Sumitomo Aioi Life Insurance, Mitsui Sumitomo Primary Life Insurance, and the group’s overseas insurance subsidiaries all contributed positive results to the net income attributable to owners of the parent.

While still profitable, Mitsui Direct General Insurance was the only unit that saw a decline (by 75%) in attributable net income during the three-month span. The biggest increase, meanwhile, came from Mitsui Sumitomo Primary Life Insurance, which enjoyed a 335% surge.

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