193596_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
193596
Increase in the technical account for non-life insurance
statistikk
2014-11-24T10:00:00.000Z
Banking and financial markets
en
forsikring, Life and non-life insurance companies, accounts, profit and loss account, shares, bonds, commercial papers, primary capital certificates, financial instruments, liabilities, equity, lending, borrowers, issuersFinancial institutions and other financial corporations, Banking and financial markets
false

Life and non-life insurance companies, accounts, Q3 2014

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Increase in the technical account for non-life insurance

Non-life insurance companies had an increase in the technical account of NOK 1.7 billion compared to the third quarter last year. One of the main reasons was an increase of 5.2 per cent in earned premiums.

Key Figures. NOK MillionPublished 24 November 2014
Total
3rd quarter 20133rd quarter 2014
Life insurance companies
Assets1 080 8201 177 740
Earned premiums, net of reinsurance77 115108 199
Gross claims payment34 26935 102
Profitt/loss before tax and allocation to customers8 04213 679
Value-adjusted profitt/loss16 26621 786
Net income from financial assets44 51649 207
Non-life insurance companies
Assets211 965221 639
Earned premiums44 54246 840
Gross claims payments32 41233 758
Profitt/loss on ordinary activities9 66713 261
Balance on the technical account for non-life insurance5 5017 241
Net income from financial assets5 9197 733

Source: Statistics Norway

Life insurers had a value-adjusted profit of NOK 21.8 billion after the third quarter of 2014. This is an increase of NOK 5.5 billion compared with the previous year. One of the main reasons for the increase is a net profit of NOK 6.5 billion in realised gains on financial assets. The profit amounted to NOK 4.2 billion; a decrease of 0.4 per cent compared to the same period last year.

Decrease in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 9 per cent compared to the corresponding quarter last year. Bonds and certificates made up 40 per cent of total assets; a decrease of 7 percentage points from last year. Shares in securities funds increased by a total of 43.3 per cent. The increase, as a share of total assets, amounted to 8.3 per cent.

Increase in earned premiums for non-life insurance

The balance of the technical account increased by a total of 31.6 per cent, and amounted to NOK 7.2 billion at the end of the third quarter of 2014. The profit of ordinary activities amounted to NOK 13.2 billion; an increase of 37.2 per cent. Non-life insurance companies’ earned premiums written increased by 5.2 per cent.

Decrease in shares, participations and primary capital certificates

The non-life insurance companies’ holdings of shares, participations and primary capital certificates decreased by 10.1 per cent compared to the third quarter last year. As a share of total assets, this amounts to 8.3 per cent. This is a decrease of 1 percentage point compared to the previous year. Bonds and certificates as a share of total assets amounted to 39.2 per cent; a decrease of 1.8 percentage points from the previous year.