MS Amlin returns to underwriting profit as it posts 98% CRMS Amlin’s long journey back to profit ended this morning with a £63mn ($78.2mn) underwriting return for the year ended March 2023.
MS&AD considers sale of underperforming overseas unitsJapan’s MS&AD Insurance Group Holdings is considering withdrawing from some of its overseas locations as part of its goal to maintain at least a 6 percent return on equity (RoE) for its overseas businesses by fiscal 2025.
MS Amlin strikes mammoth ~£1.2bn RITC and LPT with RiverStone IntlRiverStone International has agreed a legacy transaction with the Lloyd’s arm of MS Amlin for a portfolio with net technical provisions of £1.2bn, marking the largest third-party RITC ever undertaken at One Lime Street, The Insurer can reveal.
MS Amlin 9M losses widen to £305mn driven by investments, Ian and Russia-UkraineMS&AD-owned MS Amlin has posted a net loss of £305mn ($371mn) for the nine months ended September 2022 – compared with a loss of £190mn in the prior-year period – as its investment result swung into the red due to financial market deterioration.
MS&AD completes acquisition of hybrid fronting carrier TransverseMS&AD Insurance Group Holdings has completed its $400mn-plus acquisition of hybrid fronting carrier Transverse Insurance Group in a deal which expands the Japanese giant’s access to the North American market.
MSIG Asia adds AGCS’ Villar as head of technical servicesMSIG Asia, a wholly-owned subsidiary of Mitsui Sumitomo Insurance Co Ltd and part of MS&AD Insurance Group, has appointed Victorio Villar as head of technical services.
Japanese insurers now expect to offer marine cover for Russia-Ukraine after reinsurance negotiationsThree Japanese insurers previously set to halt coverage for ships passing through Russian waters are now expected to reverse this decision and maintain marine war insurance from 1 January.
MS&AD’s CVC increases total assets under management to $300mnMS Amlin parent MS&AD has announced that its corporate venture fund, MS&AD Ventures, has increased in size by $100mn, bringing total assets under management to $300mn.
Japanese carriers in talks with reinsurers to resume Russia-Ukraine marine coverThree Japanese insurers set to halt coverage for ships passing through Russian waters from 1.1 amid a scarcity of reinsurance are understood to be in discussions with reinsurers to resume coverage.
MS Amlin falls to £131mn H1 loss as books £157mn Hurricane Ian hitMS&AD-owned MS Amlin has posted a net loss of £131mn ($156mn) for the first half of the financial year – down from a profit of £33mn in the prior-year period – as the carrier estimated its Hurricane Ian loss at £157mn.
MSI appoints Slabbert as US CEO with Carrier to take charge of Lloyd’s unitMSIG Holdings (USA), the onshore US (re)insurance arm of Japan’s MS&AD Insurance Group, has appointed Johan Slabbert as CEO with effect from 1 January 2023.
Property cat: Now is the time for providers to commitMS Reinsurance’s Chris Hayward outlines why a strategy for delivering property catastrophe capacity is more essential than ever amid increasingly difficult market conditions…
Underscoring our commitment: Introducing MS ReinsuranceCharles Goldie explains the rationale behind the rebranding of MS Amlin to MS Reinsurance…
MSI-Transverse deal sparks valuation frenzy in fronting spaceFive years after Markel’s $919mn acquisition of State National at 16x 2018 earnings fuelled a surge in start-up activity in the fronting sector, those new entrants are now trying to grasp what Mitsui Sumitomo Insurance Co (MSI)’s surprise $400mn move to buy Transverse means for their own potential valuations.
MS Amlin posts £93mn Q1 loss driven by Russia-Ukraine and negative investmentsA £95mn ($115.5mn) impact related to the Russia-Ukraine war and £21mn in investment losses in the first quarter of the year have pushed MS Amlin further into the red.
MS Amlin posts FY21 CR of 107.4% as books £296mn cat lossesMS&AD-owned MS Amlin has reported a combined ratio of 107.4 percent for 2021 – down 2.0 percentage points from the previous year – with the carrier narrowing its net losses to £190mn ($237mn) from a loss of £222mn in 2020.
Japanese cedants regain ground on QS cedes at 1.4 as XoL rates rise 5%Earthquake quota shares have come under pressure for reinsurers of the big three Japanese carriers at the 1 April renewals, with some cedants successfully pushing up ceding commission by a point or two, The Insurer understands.
MS Amlin returns to profit in 2021 with 102% CRMS Amlin’s Lloyd’s operations returned to profitability in 2021 with the managing agency heralding Syndicate 2001’s turnaround initiatives as beginning to bear fruit
AM Best puts MS Amlin AG on negativeAM Best has reduced its outlook on MS Amlin AG’s issuer credit rating (ICR) from stable to negative citing the Zurich reinsurer’s “weakening underwriting performance since 2017”.
Sompo Intl 9M surge highlights MS Amlin’s turnaround strugglesThe latest figures show the Japanese big three carriers’ international operations are travelling at different speeds.