MS&AD Insurance Group has posted a significant increase in net income for the nine months ending December 31, 2024, with a 122.3% year-on-year (YoY) surge to $4.13 billion (¥626.1 billion), driven by higher ordinary profits.
The company’s ordinary profit more than doubled, rising 113.4% YoY to $5.45 billion (¥824.9 billion), a key factor behind the growth in net income. The basic net income attributable to owners of the parent company also saw a notable increase, reaching $2.64 per share (¥400.16), up from $1.17 (¥176.5) in the same period the previous year.
For the nine-month period, MS&AD’s ordinary income surged by $1.86 billion (¥281.9 billion), bringing the total to $34.51 billion (¥5,229.7 billion). The breakdown of ordinary income includes $26.56 billion (¥4,024.1 billion) in underwriting income, $7.65 billion (¥1,159.5 billion) in investment income, and $0.30 billion (¥46.0 billion) in other ordinary income.
On the expense side, ordinary expenses fell by $1.03 billion (¥156.3 billion) to $29.07 billion (¥4,404.8 billion). The total includes underwriting expenses of $23.68 billion (¥3,587.7 billion), investment expenses of $1.10 billion (¥166.7 billion), operating and general administrative expenses of $4.06 billion (¥614.5 billion), and other ordinary expenses amounting to $0.24 billion (¥35.8 billion).
The exchange rate stood at ¥152.2 per U.S. dollar.
This remarkable performance highlights MS&AD’s strong operational efficiency and profitability during the period, signaling a robust financial position moving into the final quarter of fiscal year 2024.
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