274836
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
274836
statistikk
2017-05-23T08:00:00.000Z
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
true

Life and non-life insurance companies, accounts

Updated

Next update

Key figures

1 414 280

NOK million assets for life insurance companies Q1 2017

Key Figures. NOK Million
Total
1st quarter 20161st quarter 2017
Life insurance companies
Assets1 309 9511 414 280
Earned premiums, net of reinsurance29 29429 503
Gross claims payment12 78313 812
Profitt/loss before tax and allocation to customers3 7375 448
Value-adjusted profitt/loss4 79611 675
Net income from financial assets7 13924 313
Non-life insurance companies
Assets247 820246 557
Earned premiums15 90215 809
Gross claims payments12 28013 795
Profitt/loss on ordinary activities2 3714 387
Balance on the technical account for non-life insurance1 9122 163
Net income from financial assets5552 310

See more tables on this subject

Table 1 
Life insurance companies. Profitt and loss account. NOK Million

Life insurance companies. Profitt and loss account. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in complementary provisions is discontinued, the remaining items are continued
Earned premiums, net of reinsurance29 29455 06681 700104 47229 503
Gross premiums written25 15649 80873 06394 06124 555
Reinsurers share of gross premiums written-276-480-627-1 055-284
Transfers of premium reserve from other companies4 4145 7379 26411 4665 231
 
Claims incurred, net of reinsurance17 08030 87145 57362 64418 980
Gross claims payment12 78325 53438 45451 83213 812
Reinsurance share of gross claims payments-76-195-321-579-105
Other appropriations1..........
Transfers of premiumreserve etc. to other companies4 3735 5327 44011 3915 274
 
Net change in technical provisions17 32641 71171 73193 87331 384
Premium reserve12 64831 44553 28773 49621 405
Other technical provisions2212167488 727156
To/from revaluation reserve1 2802 8655 0765 4196 267
Means allocated insurance contracts3 1857 23413 3206 2323 557
 
Other operating income/ costs-1 475-2 786-4 307-6 166-1 560
Commision received1429303732
Operating income, real property31415118310
Other operating income3407711 1001 373358
Personell costs7641 4052 1622 884793
Commision submitted247511742978238
Operating costs, real property00120
Depreciations of non-financial assets7615428251168
Other operating costs7721 5562 3013 385862
 
Investment income /costs7 67816 50423 41536 0617 734
Interest income bonds and certificates5 01210 27614 61822 2004 224
Interest income other assets1 0782 1023 2244 7501 551
Share dividend etc.1 9775 0056 83810 7242 453
Interest costs3898781 2651 613495
 
Gains/losses, value (re-)adjustments on financial assets-5397 64622 35229 26816 579
Realized gains/losses-4796 3399 81715 9093 694
Shares, participations and primary capital certificates5112 6743 6228 3114 473
Bonds and certificates-154338-479298239
Financial derivatives-9353 1446 7507 241-703
Land and buildings......100
Other realized gains/losses99183-7749-315
Net change in value-611 30712 53613 35912 886
Shares, participations and primary capital certificates-7 634-3 4521 2348 70210 919
Bonds and certificates-749-517-1 808-1 959309
Financial derivatives9 7666 76912 7003 52360
Land and buildings..12012032..
Other net change in value-1 443-1 6132903 0611 597
 
Profitt/loss on ordinary activities5523 8485 8567 1171 891
 
Other result components-98-190-246-127-7
 
Tax64154575-225257
 
Total Profitt/loss3893 5055 0347 2161 627
 
Specifications
Balance on the technical account for life insurance1052 4413 7454 7081 293
Value-adjusted profitt/loss4 79613 77024 05627 45811 675

Table 2 
Life insurance companies. Balance sheet by financial instrument. NOK Million

Life insurance companies. Balance sheet by financial instrument. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Assets
Intangible assets1 4361 5551 4571 4891 657
 
Tangible fixed assets1 0411 1731 1611 1951 183
Land and buildings8891 0191 0091 0511 035
Machinery, equipment and vehicles151154152144147
 
Capital investments1 173 3591 193 3091 220 7231 230 7581 259 890
Shares, participation and primary capital certificate196 899196 336196 951205 156208 157
Shares in securities' fund460 103475 583491 820497 649517 220
Bonds and certificates502 873501 566515 129522 210527 512
Financial derivatives8 3805 28210 8163 2702 262
Other capital investment5 10414 5416 0062 4734 740
 
Loans93 87296 74396 916117 131120 488
 
Remaining claims7 88211 35317 5714 2645 897
Insurance claims3 0158 77612 6601 4062 941
Reinsurance share of technical provisions869871911948978
Other claims3 9981 7074 0001 9111 978
 
Cash and bank deposits32 36131 37226 39025 51625 166
 
Total assets1 309 9511 335 5051 364 2181 380 3521 414 280
 
Liabilities and equity capital
Eqiuty capital86 41789 59492 32593 72296 211
Deposit capital37 71338 15139 26239 26539 302
Company capital7 8477 8477 8477 8477 847
Share premium account17 84717 87217 87217 87217 872
Other deposit capital12 01912 43213 54313 54613 583
Retained earnings48 70451 44353 06354 45756 909
Other equity48 28947 92648 00651 99255 403
Not allocated profit4153 5175 0562 4651 506
 
Subordinated liabilities27 71224 71424 37626 08426 162
Bonds18 14215 14414 80616 51416 592
Other subordinated loans9 5709 5709 5709 5709 570
 
Technical provisions1 166 8341 191 7681 219 6391 240 1841 270 565
Premium reserve11 057 9911 077 5871 099 6721 120 8371 143 642
Additional provisions35 53335 73435 72144 38244 315
Revaluation reserve41 91343 50245 71246 05552 234
Net provision for outstanding claims2..........
Premium and pension provision26 55426 86024 92927 65525 856
Net other technical provisions1 6701 4491 3611 2111 547
Unallocated surplus funds to insurance contracts3 1736 63612 244452 972
 
Provisions for other charges2 9183 4963 8193 6233 066
Provisions for pension1 1031 1561 176960926
Deffered tax1 7952 3222 5642 5182 049
Other provisions for charges20187814591
 
Remaining liabilites26 07025 93324 05916 74018 276
Expences accrued938843845832877
Deffered income1....1927
Payable tax59521165833
Dividend30......61
Insurance liabilities2 2751 8461 5482 4492 441
Other liabilities19 65418 74719 5227 1979 589
Financial derivatives3 1144 4452 0286 1855 247
 
Total libilities1 309 9511 335 5051 364 2191 380 3521 414 280
 
Specifications
Number of companies1919191919
Loan with morgage on dwelling33 22235 23336 98746 13847 897
Net tehcnical provisions where the risk is borne by the policyholder202 257211 364223 756238 354253 535

Table 3 
Life insurance companies. Investments in shares, participations and primary capital certificates by sector. NOK Million

Life insurance companies. Investments in shares, participations and primary capital certificates by sector. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
 
Sum all sectors657 002671 920688 771702 805725 377
 
Non-financial corporations134 754130 027130 032132 970133 481
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 0531 1551 1501 2701 275
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government7337988851 0361 009
Private non-financial incorporated enterprises132 968128 074127 997130 664131 198
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations373 607383 784396 246398 162409 878
Norges Bank..........
Banks2338495775
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies2 0892 1412 2622 6312 737
Mutual funds366 660376 720388 963390 372401 896
Investment trusts and private equity funds712647617660633
Other financial enterprises, except insurance companies and pension funds1 9051 9251 9642 1532 197
Life insurance companies and pension funds312337340328321
Non-life insurance companies1 9061 9752 0511 9612 020
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
Unincorporated enterprises within households..........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc...........
Unspecified sector..........
 
Rest of the world148 642158 109162 493171 673182 018

Table 4 
Life insurance companies. Holding of bonds and certificates by issuing sector. NOK Million

Life insurance companies. Holding of bonds and certificates by issuing sector. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
Sum all sectors502 873501 566515 129522 210527 512
 
Non-financial corporations68 62371 64874 55774 17376 927
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government22 30823 82723 62221 93922 745
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government22 74123 52824 66025 18225 046
Private non-financial incorporated enterprises23 57424 29326 27527 05129 136
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations113 060112 707113 583117 577114 907
Norges Bank..........
Banks52 39250 42949 30549 85947 034
Mortgage companies59 60661 17263 22266 66366 849
Finance companies..........
State lending institutions etc...........
Financial holding companies7262444014
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds785792755752738
Life insurance companies and pension funds121148151154160
Non-life insurance companies85103107108112
 
General government52 04947 27951 15749 74448 320
Central government32 55029 41329 69425 77326 264
Local government19 49917 86621 46323 97122 056
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world269 141269 932275 832280 717287 357

Table 5 
Life insurance companies. Total utilized loans by borrower sector. NOK Million

Life insurance companies. Total utilized loans by borrower sector. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
Sum all sectors93 87296 74396 916117 131120 488
 
Non-financial corporations24 55625 35025 07333 74434 828
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government6464606055
Public unincorporated enterprises, owned by local government347303238229233
Public incorporated enterprises, owned by local government6 9007 5746 9737 2937 418
Private non-financial incorporated enterprises16 79216 95517 57025 93126 952
Private non-financial unincorporated enterprises447447228226165
Private non-profit institutions serving enterprises66555
 
Financial corporations2 0163 6622 6422 8982 980
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies11 012438275208
Mutual funds..........
Investment trusts and private equity funds1 8961 9321 9371 9401 919
Other financial enterprises, except insurance companies and pension funds119717267683853
Life insurance companies and pension funds..........
Non-life insurance companies..........
 
General government28 06827 73127 53929 62429 574
Central government..........
Local government28 06827 73127 53929 62429 574
 
Non-profit institutions serving households380380385393404
 
Households28 94630 09431 65240 57942 147
Unincorporated enterprises within households00000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.137136133131130
Employees, recipients of property income, pensions and social contributions, students etc.28 80929 95831 51940 44842 017
Unspecified sector..........
 
Rest of the world9 9069 5259 6239 89410 556

Table 6 
Non-life insurance company. Profitt and loss account. NOK Million

Non-life insurance company. Profitt and loss account. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in the equalization provision are discontinued. Changes in the provisions for unexpired risk is continued.
Earned premiums, net of reinsurance15 90232 51349 87366 56815 809
Gross premiums written27 03345 98861 71278 42027 368
Reinsurers share of gross premiums writtens-4 497-7 447-9 599-11 896-4 467
Gross change in the provision for unearned premiums-8 221-7 536-2 873189-8 575
Reinsurance share1 5871 508633-1451 482
 
Claims incurred and net change in technical provisions11 61322 11833 77644 71410 705
Gross claims payment12 28025 43338 37952 66313 795
Reinsurers share of gross claims payments-1 300-2 746-4 113-6 134-1 791
Gross change in the provision for outstanding claims981-108323-1 992-1 573
Reinsurers share, gross change in the provision for outstanding claims-425-673-1 132-284501
Bonus and rebates1..........
Net change in technical provision275211318461-228
 
Other operating income/ costs-2 473-5 668-9 066-12 328-3 027
Commision received8817514820059
Operating income, real property61218434
Other operating income10019630541692
Personell costs1 1292 6944 5836 3971 771
Commision submitted7391 5072 1952 883741
Operating costs, real property249144
Depreciations of non-financial assets8818628742969
Other operating costs7101 6602 4643 263597
 
Investment income /costs1 0772 0902 8383 806980
Interest income8381 6912 4573 332828
Share dividend etc.268457492649194
Interest costs285811117442
 
Gains/losses, value (re-)adjustments on financial assets-5222761 2562 3541 330
Net realized gains/losses1 1021 5852 5853 3471 059
Net change in value-1 624-1 310-1 329-993270
 
Profitt/loss on ordinary activities2 3717 09311 12615 6874 387
 
Other result components-153-174-57-66-34
 
Tax8601 8312 7033 447607
 
Total Profitt/loss1 3595 0878 36612 1733 746
 
Specifications
Balance on the technical account for non-life insurance1 9125 0317 3549 8532 163

Table 7 
Non-life insurance companies. Balance sheet by financial instrument. NOK Million

Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
11st quarter of 2016: The Equalization provision discontinued. The provision for unexpired risk is continued.
21st quarter of 2016: Closed series
Assets
Intangible assets4 8954 9515 1184 8875 003
 
Tangible fixed assets1 1211 1231 1061 1211 208
Land and buildings587601598608611
Machinery, equipment and vehicles534521508512597
 
Capital investments149 665148 346150 325150 248153 248
Shares, participation and primary capital certificates17 53618 08018 25918 28817 471
Shares in securities' fund31 74630 93931 22531 26932 227
Bonds and certificates98 27596 47097 99497 604100 001
Financial derivatives1 6051 9872 3762 1641 894
Other capital investments5038714719231 656
 
Loans2 4772 5772 5852 3302 846
 
Reinsurance share of technical provisions18 71918 93819 02717 64018 431
 
Remaining claims60 33158 67754 36454 34454 325
Insurance claims21 53520 75719 92719 52623 934
Other claims38 79637 92034 43734 81830 390
 
Cash and bank deposits10 6138 69210 0708 95311 496
 
Total assets247 820243 304242 594239 524246 557
 
Liabilities and equity capital
Eqiuty capital77 09080 05980 61979 23478 298
Deposit capital12 73813 03613 96914 32914 523
Company capital4 7444 7474 7394 9794 982
Share premium account3 3653 3853 4413 5583 707
Other deposit capital4 6304 9045 7895 7925 834
Retained earnings64 35167 02366 65064 90563 775
Other equity60 67660 63657 33853 04158 275
Not allocated profit3 6756 3889 31211 8645 500
 
Subordinated liabilities1 7732 2732 4702 4713 221
Bonds1 5952 0952 0932 0932 843
Other subordinated loans178178378378378
 
Technical provisions134 652132 709129 265124 812131 898
Gross provision for unearned premium37 60235 94831 48928 57037 533
Gross Provision for outstanding claims92 62591 47592 85191 02589 038
Gross provision for bonuses and rebates2..........
Equalization provision14 4255 2864 9255 2185 327
Other technical provision2..........
 
Provisions for other charges8 5788 4868 8419 41710 278
Provisions for pension1 5911 6041 6771 7691 521
Deffered tax5 8225 7796 0646 6357 640
Other provisions for charges1 1651 1031 1001 0141 116
 
Remaning liabilites25 72819 77721 39823 59022 862
Expences accrued1 1321 1081 1901 3461 165
Deffered income858471258109
Payable tax2 1642 2232 7401 9541 842
Dividend4 9031182 0044 1795 393
Insurance liabilities6 8135 0094 7364 4226 126
Other liabilities9 6839 6539 1519 4626 465
Financial derivatives9481 5821 5061 9691 761
 
Total libilities247 820243 304242 594239 524246 557
 
Specifications
Number of companies8788858686
Loan with morgage on dwelling272270281265256

Table 8 
Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million

Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
Sum all sectors49 28249 01849 48449 55749 698
 
Non-financial corporations5 2335 2465 3075 6195 260
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government205221213207206
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government55555
Private non-financial incorporated enterprises4 4644 4384 4954 7884 432
Private non-financial unincorporated enterprises560581595619617
Private non-profit institutions serving enterprises..........
 
Financial corporations17 40217 60617 75217 89418 676
Norges Bank..........
Banks1 2071 2981 431947340
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies3 2343 5113 5183 4993 508
Mutual funds12 16312 01412 01312 59814 034
Investment trusts and private equity funds354363375407425
Other financial enterprises, except insurance companies and pension funds359331319384314
Life insurance companies and pension funds..........
Non-life insurance companies8488965956
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world26 64626 16626 42626 04425 762

Table 9 
Non-life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million

Non-life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
Sum all sectors98 27596 47097 99497 604100 001
 
Non-financial corporations12 33812 57112 39912 73712 493
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 4961 6391 4881 4791 496
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government5 9855 7075 4425 8485 355
Private non-financial incorporated enterprises4 8575 2255 4695 4105 642
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations39 93038 83539 17538 55040 303
Norges Bank..........
Banks18 88717 46217 25716 81617 101
Mortgage companies20 80021 14121 63621 39622 935
Finance companies4743373738
State lending institutions etc...........
Financial holding companies9479788978
Mutual funds..........
Investment trusts and private equity funds4441..
Other financial enterprises, except insurance companies and pension funds222312
Life insurance companies and pension funds2423568146
Non-life insurance companies708010498103
 
General government15 09513 64715 51515 41016 006
Central government7 3836 5316 9236 9007 265
Local government7 7117 1168 5928 5118 741
 
Non-profit institutions serving households..........
 
Households..........
Unincorporated enterprises within households..........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc...........
Unspecified sector..........
 
Rest of the world30 91331 41730 90430 90731 199

Table 10 
Non-life insurance companies. Total utilized loans by borrower sector. NOK Million

Non-life insurance companies. Total utilized loans by borrower sector. NOK Million
1st quarter 20162nd quarter 20163rd quarter 20164th quarter 20161st quarter 2017
Sum all sectors2 4772 5772 5852 3302 846
 
Non-financial corporations1 5941 6961 6961 4611 910
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government..........
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government..........
Private non-financial incorporated enterprises1 5941 6961 6961 4611 910
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations517519522524606
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies..........
Mutual funds..........
Investment trusts and private equity funds454466470472500
Other financial enterprises, except insurance companies and pension funds5040404094
Life insurance companies and pension funds..........
Non-life insurance companies1313131212
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households366361366345330
Unincorporated enterprises within households9591847973
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc.271270282266257
Unspecified sector..........
 
Rest of the world..0000

About the statistics

The statistics cover all life and non-life insurance companies and branches of foreign companies in Norway. It shows overall performance, balance and some specifications for the sector and industry.

Definitions

Definitions of the main concepts and variables

Balance sheet: The balance sheet shows assets, liabilities and equity at the end of accounting period.

Profitt and loss account: The profit and loss account shows income, costs and expenses over the course of the accounting period.

Standard classifications

We have four types of classification: instrument, sector, industry and type.

Financial instruments and physical capital
Liabilities, claims and other assets in the balance sheet of the financial institutions are divides into two main groups with a view to providing major uniform groups such as bank lending, funding and deposits.
Debtor and creditor industry
Borrowers and lenders are classified according to institutional sector classification, based on national accounts rules.
Debtor and creditor industry
Based on the rules in the industry standard, the individual financial instruments are grouped according to the debtor's or creditor's industry affiliation.
Types of income and expenses
Including interest income and expenses, are based on national accounts rules.

Administrative information

Name and topic

Name: Life and non-life insurance companies, accounts
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Corporations

Regional level

Only at the national level.

Frequency and timeliness

Annual and quarterly.

International reporting

Eurostat

Microdata

Publication-ready data are stored in a FAME-database

Background

Background and purpose

The purpose is to provide statistics for the national accounts, financial sector balances and census of foreign assets and liabilities, and publish current credit market statistics. Accounting statistics for life and non-life insurance companies was first published in NOS Credit Market Statistics 1912. From 1998 the accounts statistics was based up on new electronic reports, which have more details than the former manual reports. Among others it gives the possibility to divide between capital assets and short-term assets, and it also contains quarterly profit and loss accounts.

.

Users and applications

The statistics are included in national accounts, financial sector balances, balance of payments and statistics on Norway's foreign assets and liabilities. Other major users are the Central Bank of Norway, the Financial Supervisory authority, Ministry of Finance and the media.

Equal treatment of users

Not relevant

Coherence with other statistics

The statistics are based on the guidelines in the national accounts standards System of National Accounts from (SNA) and the IMF Manual on Monetary and Financial Statistics.

Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

Legal authority

Statistics Act Section 3-2 (state lending institutions), Act on the Supervision on Credit Institutions, Insurance Companies and Securities Trading, etc., Sections 1 and 4 (insurance companies).

EEA reference

Council Directive 674/91

Council Regulation (EC) no. 2223/96

Council Regulation (EC) 410/98

Council Regulation (EC) no. 1392/2007

Council Regulation (EC) no. 2056/2002

Council Regulation (EC) no. 1606/2002

Council Regulation (EC) no. 297/2008

Commission Regulation 1225/1999

Commission Regulation 1227/1999

Commission Regulation 1228/1999

Production

Population

The population is all life and non-life insurance companies in Norway, including foreign branches in Norway. According to the Standard Industrial Classification this covers industries 65.110, 65.120 and 65.200.

The statistical unit forming the basis for the accounting reports is the enterprise.

Data sources and sampling

The statistics are based on accounting data from the enterprises.

The sample is defined on the basis of a number of financial corporations licensed by the Financial Supervisory authority (the statistics are in principle based on total censuses).

Collection of data, editing and estimations

The Financial Supervisory authority and Statistics Norway cooperate in the collection of accounting information.

The data is controlled by the Banking, Insurance and Securities Commission and Statistics Norway.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

The accounting statistics for the life and non-life insurance companies is based on current accounting regulations for life and non-life insurance companies. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the life and non-life insurance companies. Structural changes like new companies, mergers and spin-offs, with portfolio movements as one consequence, may also lead to breaches in the time series.

International Financial Reporting Standard (IFRS) The new accounting standard IFRS is an example of a change that will cause breaches in the time series in the periods to come. In 2008 all reporting companies must, in one way or another, report according to the IFRS standard, and data may then be fully comparable again. However, the IFRS standard will lead to larger fluctuations in the data because of the more extensive use of fair value in the accounting. The comparison of the reported data with the companies' official accounts is also challenging because the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standard does.

Accuracy and reliability

Sources of error and uncertainty

Errors and discrepancies can occur in the accounting data. These discrepancies can have a number of sources:

  • Errors in the reporting institutions' accounts
  • Errors in the transfer of data from the institution's primary accounts to recipients
  • Different accounting and evaluation principles
  • Different accounting dates for transactions
  • Insufficient data from the reporting parties
  • Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceeding publishing. Large and important revision however, will be commented upon in the publishing of Today's Statistics.

Revision

Not relevant

Contact

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