Results
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The carrier revealed new group financial targets at its Capital Markets Day. -
The carrier’s lower hurricane exposure was driven by portfolio exits and optimisation.
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The deterioration was driven by increased operating expenses.
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The international segment’s net written premium grew 15.8%.
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Parent MS&AD highlighted “strong underwriting fundamentals”.
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Parent group Talanx reported a 9M operating profit of EUR3.7bn.
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The P&C combined ratio improved to 94%, while premiums rose by 6.9% to EUR25bn.
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Cat losses in reinsurance rose 11.1% year over year to $45.1mn, driven by Hurricane Helene.
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Nat cat pricing is expected to be more or less flat, with rises on loss-affected programmes.
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The group reported a combined ratio of 91.2 for the period.
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Improved underwriting results thanks to pricing action were offset by nat cat activity in Canada.
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