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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