Content
Published:
This is an archived release.
Lower total assets in non-life insurance industry
Both the life- and the non-life insurance industry attained a profit of over NOK 5 billion, but the total assets for the non-life insurance companies decreased during the third quarter of 2006.
The earned premiums (exclusive of transfers to other companies) for the life insurance industry increased by 4 per cent since the third quarter of 2005, while the claims incurred rose by 36 per cent. Still they attained a higher profit this year compared with the same period last year. The revaluation reserve is reduced by NOK 6.3 billion since the third quarter of 2005.
Life insurance. Profit and loss account. NOK million |
3rd quarter 2006 | 3rd quarter 2005 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earned premiums, exclusive of transfers to other companies | 49 648 | 51 753 | |||||||||||||||||||||||||||||||||||||
Claims incurred | 35 611 | 26 109 | |||||||||||||||||||||||||||||||||||||
Profit/loss before tax and allocation to customers | 11 254 | 10 754 | |||||||||||||||||||||||||||||||||||||
Net income from financial assets | 25 806 | 31 966 | |||||||||||||||||||||||||||||||||||||
Value-adjusted profit/loss | 12 122 | 17 792 | |||||||||||||||||||||||||||||||||||||
229 | 120 | ||||||||||||||||||||||||||||||||||||||
The total assets increased by NOK 37 billion since the beginning of 2006. The equivalent growth in 2005 was NOK 53 billion. The bonds amounted to 49 per cent of the total assets, while the share of the investments in subsidiaries and other shares, participation and primary capital certificates amounted to 32 per cent. The stock of the certificates continued to fall, and represents now only 3 per cent of the total assets.
Life insurance. Balance sheet. NOK million |
3rd quarter 2006 | 3rd quarter 2005 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total assets | 645 695 | 588 594 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates | 206 390 | 159 329 | |||||||||||||||||||||||||||||||||||||
Holdings of bonds | 315 470 | 282 249 | |||||||||||||||||||||||||||||||||||||
Holdings of certificates | 18 073 | 41 435 | |||||||||||||||||||||||||||||||||||||
The non-life insurance industry
The non-life insurance industry attained a profit that is NOK 1.5 billion lower in the third quarter this year, compared with last year. The mail reason for this is foremost the lower gains from the financial assets during 2006. The technical account has improved, and amounted to NOK 4.2 billion contrary to NOK 3.3 billion in the third quarter of 2005.
Non-life insurance. Profit and loss account.NOK million |
3rd quarter 2006 | 3rd quarter 2005 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earned premiums | 31 441 | 30 372 | |||||||||||||||||||||||||||||||||||||
Claims incurred | 21 266 | 20 187 | |||||||||||||||||||||||||||||||||||||
Profit/loss of ordinary activities | 5 502 | 7 255 | |||||||||||||||||||||||||||||||||||||
Net income from financial assets | 3 913 | 5 867 | |||||||||||||||||||||||||||||||||||||
Profit/loss of the technical account | 4 159 | 3 283 | |||||||||||||||||||||||||||||||||||||
The non-life insurance industry ‘s total assets decreased by NOK 1.7 billion since the second quarter, and have only increased by NOK 7.3 billion since 2005. The bonds amounted to 34 per cent of the total assets, while the share of the investments in subsidiaries and other shares, participation and primary capital certificates amounted to 20 per cent. As a share of the total assets, the stock of the certificates continues to fall, and represent now 9 per cent, compared with 14 per cent in the third quarter of 2005.
Non-insurance. Balance sheet. NOK million |
3rd quarter 2006 | 3rd quarter 2005 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total assets | 138 597 | 130 366 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates | 28 348 | 22 068 | |||||||||||||||||||||||||||||||||||||
Holdings of bonds | 47 747 | 41 136 | |||||||||||||||||||||||||||||||||||||
Holdings of certificates | 12 860 | 18 562 | |||||||||||||||||||||||||||||||||||||
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