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Japanese MS & AD suffered from natural disasters

23 may 2018 in 07:20

Japanese insurer and reinsurer MS & AD in 2017 earned a profit of $ 1.91 billion.

The company said. that due to natural disasters, the company lost more than a third of its previous year's profit of $ 3.18 billion. Typhoons in Japan and hurricanes in North America have caused great harm to the company.

The net profit fell by $ 507.6 million to $ 1.4 billion. In the overseas subsidiary business of the company, which includes MS Amlin, MS & AD reported net losses of $ 943 million, which is significantly less than $ 1.16 billion in 2016. Net signed premiums abroad also decreased to $ 6.15 billion.

The insurer is going to reduce the staff to compensate for the large losses in 2017. In the current year, MS & AD expects to receive $ 2.66 billion in profit.

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