As I said...But the filling in MICC is very thermally conductive, so a thicker sheath with more mineral insulation will remove more heat from the conductors.
Provided that the outer sheathing doesn't confuse things too much, then what you say would clearly be correct - the longer path that heat would have to travel through the insulation (proportional to diameter) would be more than compensated for by the increased rate of heat loss from a greater surface area (proportional to square of diameter).... It presumably depends a lot on the thermal properties of the material which has made it larger.
Kind Regards, John