Global reinsurer MS Reinsurance announced today that it produced a net profit of $415 million after tax for the year ended 2025, compared to $346 million for the year ended 2024.

The company, which has offices in Bermuda and is owned by Japanese parent company Mitsui Sumitomo Insurance Company, achieved top-line growth of more than 8 per cent, as gross premiums written rose from $3.6 billion to $3.9 billion.

The combined ratio, a measure of underwriting profitability, for was 87.4 per cent, an improvement from 88.7 per cent in 2024. MS Re said this was “mainly a result of a benign loss experience, mainly from shorter tail classes, as well as favourable discounting impact”.

MS Reinsurance reported an investment result of $307 million and an investment return of 4.7 per cent.

Robert Wiest, MS Reinsurance’s chief executive officer, said: “Today, MS Reinsurance is fundamentally different from where it was four years ago. We deliberately de-risked and rebalanced our portfolio, strengthened governance throughout the organisation, and reimagined how we operate across functions and geographies.”

Mr. Wiest added: “Reinsurance is inherently cyclical, which makes consistency both difficult and essential. Our strategy is designed to hold across the full cycle, not just when conditions are favourable.”