Content
Published:
This is an archived release.
Improved results for insurance
Both non-life and life insurance companies have achieved better results in the first three quarters of 2009 compared to last year. This is mainly due to the increase in the income from financial assets.
Life insurance companies achieved a value-adjusted profit of NOK 15.1 billion, an increase of NOK 48.9 billion compared with the three first quarters of 2008. This was mainly due to the improvement in the net income from financial assets of NOK 62.5 billion. Life insurance has a profit before tax and allocation to customers of NOK 12.5 billion. While the earned premium for life insurance companies decreased by 4 per cent, the claims incurred were 31 per cent lower from the three first quarters of 2008 to the corresponding period in 2009.
1st-3rd quarter 2009 | 1st-3rd quarter 2008 | ||||||||||||||||||||||||||||||||||||||
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Earned premiums, exclusive of transfers to other companies | 61 343 | 63 799 | |||||||||||||||||||||||||||||||||||||
Claims incurred | 35 008 | 50 442 | |||||||||||||||||||||||||||||||||||||
Profit/loss before tax and allocation to customers | 12 546 | -14 892 | |||||||||||||||||||||||||||||||||||||
Net income from financial assets | 35 111 | -27 407 | |||||||||||||||||||||||||||||||||||||
Value-adjusted profit/loss | 15 097 | -33 818 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates made up 33 per cent of total assets; a decrease of 3 per cent compared to the corresponding quarter last year. Bonds and certificates made up 52 per cent of total assets, an increase from 47 per cent compared with the third quarter of 2008. Total assets increased by NOK 42.1 billion.
3rd quarter 2009 | 3rd quarter 2008 | ||||||||||||||||||||||||||||||||||||||
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Total assets | 776 418 | 734 290 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates | 253 233 | 264 593 | |||||||||||||||||||||||||||||||||||||
Holdings of bonds and certificates | 404 594 | 346 994 | |||||||||||||||||||||||||||||||||||||
The non-life insurance industry achieved a profit of ordinary activities of NOK 8 billion in the third quarter of 2009. This is an increase of NOK 6.6 billion compared with the corresponding quarter of 2008. One of the main sources is the NOK 7.1 billion increase in the net income from financial assets the last year. The profit of the technical account decreased by 41 per cent.
1st-3rd quarter 2009 | 1st-3rd quarter 2008 | ||||||||||||||||||||||||||||||||||||||
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Earned premiums | 35 652 | 35 776 | |||||||||||||||||||||||||||||||||||||
Claims incurred | 26 151 | 24 712 | |||||||||||||||||||||||||||||||||||||
Profit/loss of ordinary activities | 8 004 | 1 754 | |||||||||||||||||||||||||||||||||||||
Net income from financial assets | 6 806 | -245 | |||||||||||||||||||||||||||||||||||||
Profit/loss of the technical account | 3 340 | 5 705 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates made up 20 per cent of the total assets. Bonds and certificates increased by 16 per cent. Bonds and certificates made up 16 per cent of total assets in the third quarter of 2009, an increase of 5 per cent compared to last year. Total assets in the non-life insurance industry improved NOK 6.7 billion when comparing the third quarter 2009 with the corresponding quarter in 2008.
3rd quarter 2009 | 3rd quarter 2008 | ||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total assets | 179 152 | 172 428 | |||||||||||||||||||||||||||||||||||||
Investments in subsidiaries and other shares, participation and primary capital certificates | 35 432 | 35 930 | |||||||||||||||||||||||||||||||||||||
Holdings of bonds and certificates | 70 805 | 61 149 | |||||||||||||||||||||||||||||||||||||
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