Fewer large catastrophe losses and a narrowing underwriting loss at the US subsidiary lifted the Japanese reinsurer's bottom line for a second straight year.
Lower volumes in key non-life classes weighed on premiums, while stronger claims performance and lower reserve provisioning boosted the reinsurer's underwriting profit.
The Japanese reinsurer's ratings were upheld with stable outlooks after profit in fiscal 2024 rose to JPY28.5bn (US$190m) on stronger underwriting and investment income.
