MS&AD Insurance Group reports annual numbers

MS&AD Insurance Group reports annual numbers

MS&AD Insurance Group reports annual numbers | Insurance Business New Zealand

Insurance News

MS&AD Insurance Group reports annual numbers

Projection for next fiscal year announced

Insurance News

By
Terry Gangcuangco

MS Amlin parent MS&AD Insurance Group Holdings has released its summary of financial statements for the year ended March 31, 2023.

According to MS&AD, here’s how it fared during the 12-month span:




Source of net income attributable to owners of the parent



Year ended March 31, 2023



Year ended March 31, 2022







Mitsui Sumitomo Insurance



¥107.8 billion



¥145.7 billion





Aioi Nissay Dowa Insurance



¥43.1 billion



¥53.9 billion





Mitsui Direct General Insurance



¥0.8 billion



¥0.8 billlion





Mitsui Sumitomo Aioi Life Insurance



¥12.7 billion



¥21 billion





Mitsui Sumitomo Primary Life Insurance



¥19.7 billion



¥53 billion





Overseas Insurance subsidiaries



¥15.7 billion



¥24.5 billion





Others, consolidation adjustments, etc.



¥(38.6 billion)



¥(36.3 billion)





Group



¥161.5 billion



¥262.8 billion




 

For the current fiscal year, MS&AD’s underwriting income amounted to ¥4.5 trillion while investment income stood at ¥745.7 billion. The results were in part attributed to efforts in the areas of value creation, business transformation, and group synergy.

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Looking ahead, MS&AD said: “For consolidated earnings for the next fiscal year, the company forecasts ordinary profit of ¥420 billion and net income attributable to owners of the parent of ¥300 billion on the basis of the assumptions set forth below.

“Net premiums written are based on the company’s own forecasts in view of past trends in results. Incurred loss due to new natural disasters (domestic) is expected to be ¥49 billion for Mitsui Sumitomo Insurance Co., Ltd. and ¥39.5 billion for Aioi Nissay Dowa Insurance Co., Ltd. (total of net claims paid and provision of outstanding claims).”

The insurance group is also assuming that no significant fluctuations in market interest rates, exchange rates, or stock market prices will take place from the end of March 2023.

What do you think about MS&AD’s financial results? Share your thoughts in the comments below.

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