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The company attributed the decline in net income to an increase in corporate tax, driven by improved profitability in recent years, as well as a more active year for natural catastrophes and large market losses.<\/p>\nGlobal insurer and reinsurer MS Amlin Underwriting Limited (MS AUL) has reported a net income of \u00a3149 million for the full year 2024, representing a reduction of \u00a347 million compared to the \u00a3197 million recorded the year prior.<\/p>\n
The company attributed the decline in net income to an increase in corporate tax, driven by improved profitability in recent years, as well as a more active year for natural catastrophes and large market losses.<\/p>\n
Insurance service profit for FY24 totalled \u00a3215 million, down \u00a329 million from \u00a3244 million in FY23. This was driven by large market losses\u2014including Hurricane Milton, Hurricane Helene, and the Baltimore Bridge collapse\u2014partially offset by continued strong underwriting performance in the non-catastrophe portfolio.<\/p>\n
MS AUL\u2019s financial profit rose to \u00a349 million, an increase of \u00a364 million year over year from a \u00a315 million loss, supported by improved investment returns and sustained low discounting volatility through effective asset-liability matching.<\/p>\n
Net premiums written stood at \u00a31.485 billion, slightly down from \u00a31.495 billion in FY23.<\/p>\n
Net premiums earned rose to \u00a31.575 billion, a \u00a3225 million increase from \u00a31.351 billion the year prior.<\/p>\n The company\u2019s combined ratio for FY24 was 86.2%, up 3.9 percentage points from 82.3% in FY23. This comprised a loss ratio of 49.2% and an expense ratio of 37.0%, compared to a loss ratio of 46.2% and an expense ratio of 36.1% the previous year.<\/p>\n The post MS Amlin Underwriting posts net income of \u00a3149m for FY\u201924<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Global insurer and reinsurer MS Amlin Underwriting Limited (MS AUL) has reported a net income of \u00a3149 million for the full year 2024, representing a reduction of \u00a347 million compared to the \u00a3197 million recorded the year prior. The company attributed the decline in net income to an increase in corporate tax, driven by improved […]<\/p>\n","protected":false},"author":1,"featured_media":4632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4630"}],"collection":[{"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/comments?post=4630"}],"version-history":[{"count":3,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4630\/revisions"}],"predecessor-version":[{"id":4634,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/posts\/4630\/revisions\/4634"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/media\/4632"}],"wp:attachment":[{"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/media?parent=4630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/categories?post=4630"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/calebdewey.com\/index.php\/wp-json\/wp\/v2\/tags?post=4630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Download](\"http:\/\/calebdewey.com\/wp-content\/uploads\/2025\/05\/catastrophe-bond-ils-market-report-q1-2025-728x90-2.png\")
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