MS Amlin’s net income jumped to £250 million for the first nine months of 2023, representing an increase of £237 million year-on-year.
The substantial rise in net income comes as the company benefited from top-line growth, improved profitability, and reduced catastrophes.
The company also posted a £309 million insurance service profit, an improvement of £377 million year-on-year.
At the same time, MS Amlin also generated a combined ratio of 90.0% for 9M23, representing a solid improvement of 13.9 percentage points on the prior year period.
Financial profit was £23 million, a decrease of £140 million year-on-year.
Despite this decrease, investment income significantly improved compared to the same period of the previous year, sitting at £99 million for the period.
Moreover, MS Amlin witnessed a non-operating loss of £60 million for the period, representing a decrease of £33 million year-over year.
Meanwhile, MS Amlin posted £3.9 billion in net premium written for 9M23, compared to £2.8 billion from the prior year period.
Net premium earned sat at £3.0 billion, representing a £788 million increase from the last comparable year’s £2.2 billion.
