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MS&AD fiscal Q1 net income rises 14.5% YOY

MS&AD Insurance Group Holdings Inc.'s net income attributable to owners of the parent for the quarter ended June 30 rose 14.5% to ¥95.99 billion from ¥83.86 billion a year ago.

EPS for the fiscal first quarter increased year over year to ¥164.58 from ¥141.69.

Ordinary profit dropped to ¥117.92 billion from ¥125.40 billion, while ordinary income increased to ¥1.498 trillion from ¥1.462 trillion.

Underwriting income climbed to ¥1.337 trillion from ¥1.312 trillion. Investment income increased to ¥153.86 billion from ¥145.09 billion. Net premiums written rose to ¥976.81 billion from ¥968.92 billion.

Mitsui Sumitomo Insurance Co. Ltd. reported fiscal-first quarter net income of ¥65.82 billion, versus ¥55.19 billion a year ago. Aioi Nissay Dowa Insurance Co. Ltd.'s net income fell to ¥23.94 billion from ¥26.06 billion.

MS&AD reiterated its guidance for the fiscal year ending March 31, 2020.

As of Aug. 6, US$1 was equivalent to ¥106.34.