Content
Published:
This is an archived release.
Solid profits for insurance companies
Both life and non-life insurance companies achieved solid profits in 2005. Income increased from the financial assets and increased total assets mostly due to strong development in the stock exchanges during 2005.
Life insurance. Profit and loss account. NOK million |
4th quarter 2005 | 4th quarter 2004 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earned premiums, exclusive of transfers to other companies | 61 351 | 54 996 | |||||||||||||||||||||||||||||||||||||
Claims incurred | 29 156 | 25 376 | |||||||||||||||||||||||||||||||||||||
Profit/loss before tax and allocation to customers | 11 203 | 9 928 | |||||||||||||||||||||||||||||||||||||
Net income from financial assets | 44 181 | 32 150 | |||||||||||||||||||||||||||||||||||||
Value-adjusted profit/loss | 23 750 | 15 229 | |||||||||||||||||||||||||||||||||||||
Life insurance
The life insurance companies had a value-adjusted profit of NOK 23.8 billion in 2005, which equals an increase of 56 per cent since 2004. NOK 8.2 billion of the value-adjusted profit are transfers to the revaluation reserve and NOK 5.6 billion is technical provision to customers. The net income from financial assets has increased by 37 per cent from 2004 to 2005. The earned premiums and the claims incurred have increased by 12 and 15 per cent respectively since 2004.
Life insurance. Balance sheet. NOK million |
4th quarter 2005 | 4th quarter 2004 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total assets | 608 274 | 536 972 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates | 176 856 | 134 546 | |||||||||||||||||||||||||||||||||||||
Holdings of bonds | 287 701 | 269 761 | |||||||||||||||||||||||||||||||||||||
Holdings of certificates | 38 325 | 33 927 | |||||||||||||||||||||||||||||||||||||
Total assets have increased by 13 per cent since 2004, which is equivalent to an increase of NOK 71 billion. The total assets amounted to NOK 608.2 billion by the end of 2005. The total value of the securities has increased, especially investments in subsidiaries and other shares, participation and primary capital certificates, which has increased by 31 per cent since 2004, and 11 per cent since the third quarter in 2005. The securities shares of the total assets are relatively stable, with a small movement from bonds to investments in subsidiaries and other shares, participation and primary capital certificates.
Non-life insurance. Profit and loss account. NOK million |
4th quarter 2005 | 4th quarter 2004 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earned premiums | 40 145 | 37 994 | |||||||||||||||||||||||||||||||||||||
Claims incurred | 27 115 | 25 622 | |||||||||||||||||||||||||||||||||||||
Profit/loss of ordinary activities | 7 773 | 2 523 | |||||||||||||||||||||||||||||||||||||
Net income from financial assets | 7 267 | 3 674 | |||||||||||||||||||||||||||||||||||||
Profit/loss of the technical account | 3 109 | 955 | |||||||||||||||||||||||||||||||||||||
Non-life insurance
Non-life insurance has improved profits of ordinary activities and profits of the technical account by 208 and 226 per cent respectively since 2004. The net income from the financial assets has increased by 98 per cent during the same period, and came to NOK 7.2 billion. Both the earned premiums and the claims incurred increased by 6 per cent since 2004.
Non-insurance. Balance sheet. NOK million |
4th quarter 2005 | 4th quarter 2004 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total assets | 131 321 | 117 159 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates | 27 137 | 16 328 | |||||||||||||||||||||||||||||||||||||
Holdings of bonds | 39 817 | 31 292 | |||||||||||||||||||||||||||||||||||||
Holdings of certificates | 16 357 | 19 788 | |||||||||||||||||||||||||||||||||||||
Total assets for the non-life insurance companies increased by 12 per cent during 2005, which equals an increase of NOK 14 billion. Bonds amounted to 30 per cent of the total assets, while the holdings of certificates equalled 12 per cent at the end of 2005. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 21 per cent of the total assets, which is an increase by 7 percentage points since 2004. Since the third quarter of 2005 the proportion of investments in subsidiaries and other shares, participation and primary capital certificates has increased by 23 per cent.
Tables
Contact
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Kjell Hammer
E-mail: kjell.hammer@ssb.no
tel.: (+47) 40 90 26 76
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Ola Tveita
E-mail: ola.tveita@ssb.no
tel.: (+47) 99 73 45 83