Switzerland-domiciled MS Reinsurance has reported an insurance service profit of £138 million in its half-year 2024 results, up 41% from the same period last year, while its combined ratio also improved to 90.2%.
The above figures were strengthened by a $492 million increase in premium growth, driven by business expansion and supported by favourable market conditions, including a reduction in natural catastrophe losses.
MS Reinsurance reported net premiums earned of £1.41 billion in HY2024, marking a 321% increase compared to HY2023. Profit after tax reached £128 million in HY2024, a 71% rise from the same period last year.
As mentioned, the firm’s combined ratio in HY2024 stood at 90.2%, marginally better than HY2023’s 91.3%.
As a global reinsurer and part of the insurance group MS&AD, MS Reinsurance underwrites non-life treaty reinsurance solutions worldwide through its three business units: Americas, International, and Specialty Lines.
Reinsurance News recently spoke with Charlie Goldie, MS Reinsurance’s Chief Underwriting Officer, for his insights on the discussions at RVS in Monte Carlo and the Insurance Leadership Forum hosted by the Council of Insurance Agents & Brokers in Colorado Springs.
According to Goldie, the best opportunities lie where clients need their capacity the most, with the firm seeing opportunities across “almost every area” amid heightened concerns around natural catastrophes and man-made perils.
