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MS Amlin Q1 profit rises to $77 million on lower North America losses
The insurer said its year-on-year improvement largely reflected fewer major natural catastrophe claims, while Middle East-related losses partially offset results.
MS Amlin reported first-quarter 2026 profit after tax of £61 million, or $77 million, up £21 million, or $27 million, year on year, as its combined ratio improved to 87.7% from 92.6%. The insurer also said its combined ratio improvement came mainly from a lower loss ratio, which fell to 55.6% from 63.3%, while the expense ratio rose to 32.1% from 29.3%.
Insurance service result nearly doubled to £60 million, or $76 million, from £34 million, or $43 million, as insurance revenue increased to £487 million, or $617 million, from £458 million, or $580 million. The figures cover MS Amlin specifically and exclude results from other MS brands within the wider MS&AD Group.
MS Amlin attributed the stronger underlying performance to favourable attritional loss experience and an absence of major natural catastrophe claims during the quarter, contrasting with Q1 2025 when California wildfire losses weighed on its North American property book. The insurer said Middle East-related losses partially offset the improvement.
In a separate development discussed alongside the results, MS Amlin launched a property treaty consortium at Lloyd's in May 2026 aimed at North American placements, bringing in Syndicate 2001, Nephila Syndicates 2358 and 2359, Hampden Syndicate 2689, and Apollo Syndicate 1969. MS Amlin said the consortium increases line size by more than a third, giving brokers access to additional A-rated Lloyd's capital through a single placement, while maintaining underwriting and claims authority.