Life and non-life insurance companies, accounts, Q4 2012

Life insurance companies achieved a value-adjusted profit of NOK 18.1 billion in the 4th quarter of 2012; an increase of NOK 19 billion compared with the corresponding period in 2011. The main reason for this is the net increase in value for financial assets. The financial income amounted to NOK 34 billion, an increase of 0.6 per cent in one year. Profit totalled NOK 4.9 billion; an increase of NOK 2.2 billion compared to the same period in 2011.

Increase in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 9.6 per cent compared to the corresponding quarter in 2011. The holding of shares and primary capital certificates as a percentage share of total assets was 42.9 per cent; an increase of 0.5 percentage points from the previous year. Bonds and certificates made up 47.3 per cent of total assets; a decrease of 0.6 per cent from last year.

Growth in earned premiums for non-life insurance

Non-life insurance companies’ financial income increased by 4.9 per cent compared with the corresponding quarter in 2011. This was mainly due to an increase in the share of profits and interest earnings. The profit for ordinary activities amounted to NOK 15 billion. The profit for the technical account increased by 25.8 per cent to NOK 8.8 billion. Earned premiums increased by 3.2 per cent compared to 2011.

Decrease in shares and primary capital certificates for non-life insurance companies

Investments in shares, participation and primary capital certificates decreased by 46.3 per cent compared to 2011. As a percentage of total asset investments in shares, participations, primary capital certificates and shares in securities, funds amounted to 10.9 per cent compared to the same period in 2011. Bonds and certificates as a share of total assets amounted to 42.5 per cent of total assets; an increase of 1.5 percentage points compared to 2011.