Content
Published:
This is an archived release.
Slight fall in profit for life insurance
Life insurance companies had a decrease in profit of 6.5 per cent compared to the corresponding quarter last year. This is mainly due to a decrease in the net change in value for shares, participations and primary capital certificates.
Total | ||
---|---|---|
1st quarter 2012 | 1st quarter 2013 | |
Life insurance companies | ||
Assets | 952 963 | 1 028 604 |
Earned premiums, net of reinsurance | 28 398 | 34 697 |
Gross claims payment | 11 032 | 11 474 |
Profitt/loss before tax and allocation to customers | 3 307 | 3 098 |
Value-adjusted profitt/loss | 11 539 | 8 285 |
Net income from financial assets | 22 460 | 19 303 |
Non-life insurance companies | ||
Assets | 200 035 | 210 501 |
Earned premiums | 13 686 | 13 904 |
Gross claims payments | 11 733 | 10 563 |
Profitt/loss on ordinary activities | 3 423 | 3 625 |
Balance on the technical account for non-life insurance | 1 065 | 1 647 |
Net income from financial assets | 2 852 | 2 607 |
Life insurers had a value-adjusted profit of NOK 8.3 billion after the first quarter of 2013. This is a decrease of NOK 3.2 billion compared with the previous year. The main reason for the decline is reduced net value adjustments on financial assets. Investment income of life insurance totalled NOK 8.2 billion after the first quarter of 2013. This is an increase of 4.4 per cent compared to the same period in 2012. The result amounted to NOK 1.2 billion, a decline of NOK 85 million compared to last year.
Increase in bonds and certificates for life insurance
Life insurance companies’ total assets increased by 7.9 per cent compared to the corresponding quarter last year. The holding of shares and primary capital certificates as a percentage of total assets was 42.8 per cent, an increase of 0.9 percentage points from the previous year. Bonds and certificates made up 46.4 per cent of total assets; a decrease of 0.7 percentage points from last year.
Growth in earned premiums for non-life insurance
Non-life insurance companies’ earned premiums increased by 1.6 per cent, while the gross claims payment was reduced by 1 per cent compared with the corresponding quarter last year.
Non-life insurance companies’ financial income declined by 0.1 per cent compared with the corresponding quarter last year. The main reason was the decline in interest earnings. The profit on ordinary activities amounted to NOK 3.6 billion. The profit for the technical account increased by 54.6.per cent to NOK 1.6 billion.
Increase in shares and primary capital certificates for non-life insurance companies
Investments in shares, participation and primary capital certificates increased by 3.9 per cent compared to the corresponding quarter last year. As a percentage of total asset investments in shares, participations, primary capital certificates and shares in securities, funds amounted to 20.9 per cent. This is a decline of 0.6 percentage points compared to last year. Bonds and certificates amounted to 41.5 per cent of total assets, an increase of 0.4 percentage points compared to last year.
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