MS Amlin has announced a 12% increase in its underwriting profits for fiscal year 2024 (FY 2024), reaching $250.4 million, up from $224.7 million in 2023. The company’s gross written premiums saw a significant rise, totaling $2.22 billion, contributing to a robust year for the insurer.
In addition, MS Amlin’s net earned premiums grew by 14%, reaching $1.91 billion, compared to $1.68 billion in the previous year. This growth was attributed to strong trading momentum across a range of business lines.
Despite the rise in premiums, the company’s combined operating ratio remained stable at 87.2%, compared to 86.6% in 2023, demonstrating the resilience of its portfolio. Notably, the attritional loss ratio improved to 43.3% from 47.6% in 2023, underscoring the company’s continued focus on enhanced risk selection.
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