MS Amlin, a global specialty commercial insurance and reinsurance provider and part of MS&AD, has reported its IFRS 17 Q1 2026 (April – June) financial results, including a £21 million year-on-year rise in net income to £61 million and an improved combined ratio.
In a strong quarter for the London headquartered firm, insurance revenue increased by £29 million, or 6% year-on-year to £487 million, driven by growth in new business and higher renewals, despite softening in certain lines of business.
The net financial result increased by £4 million year-on-year to £29 million in Q1 2026, as investment gains of £35 million were partially offset by insurance finance losses of £6 million.
The combined ratio strengthened from 92.6% in Q1 2025 to 87.7% in Q1 2026, as the loss ratio came down to 55.6% from 63.3%, and the expense ratio increased to 32.1% from 29.3%.
Both net income and adjusted profit increased from £40 million in Q1 2025 to £61 million in Q1 2026. MS&AD highlights that favorable attritional losses and no natural catastrophe losses offset losses related to the ongoing situation in the Middle East.
