MS Amlin profit jumps 80% to $312m in 2025 on strong premium growth

Net premiums rose 27%.

MS Amlin reported a net profit after tax of $312m (£268m) for the year ended 2025, up 79.9% from $173.5m (£149m) a year earlier, according to its IFRS 17 results.

Insurance service profit rose to $357.4m (£307m) from $250.3m (£215m), whilst the net financial result increased to $74.51m (£64m) from $57.04m (£49m), according to the company’s media release.

The combined ratio improved to 83.0% from 86.2% a year earlier. The expense ratio was broadly stable at 37.3%, compared with 37.0% previously.

Net premiums written increased 26.9% to $2.19b (£1.88b), whilst net premiums earned rose 13.3% to $2.07b (£1.78b).

MS Amlin also said it has launched a new Lloyd’s sub-syndicate, s1673, aimed at supporting additional underwriting capacity and growth opportunities, with risks written consolidating into Syndicate 2001.

The company said the results reflect trading across most underwriting lines during the period, alongside continued rate movements in parts of the market.

MS Amlin said the results included catastrophe activity during the year, including the Los Angeles wildfires in the USA.

The figures are based on IFRS 17 reporting and reflect MS Amlin’s standalone performance as part of MS&AD Insurance Group Holdings.

Looking ahead, MS&AD said insurance revenue is expected to remain broadly stable, while adjusted profit is expected to be lower due to softer pricing conditions and a return to more normalised catastrophe losses.