Life and non-life insurance companies, third quarter 2007 - Solid profits for insurance companies

Life insurance companies achieved NOK 2.2 billion in period result in the third quarter of 2007, an increase of NOK 1.1 billon compared to the same period last year. This is the 16th quarter with positive period results for the life insurance companies.

Life insurance. Profit and loss account. NOK million
	3rd quarter 2007	3rd quarter 2006


Earned premiums, exclusive of transfers to other companies	61 907	49 648
Claims incurred	54 504	35 611
Profit/loss before tax and allocation to customers	24 980	11 254

Net income from financial assets	39 501	25 806
Value-adjusted profit/loss	21 696	11 664

The life insurance companies achieved a profit of NOK 9.1 billion after tax during the three first quarters of 2007, which equals an increase of NOK 3.6 billion or 65 per cent since the same period last year. An increase in unrealized gains in land and building is the main cause of the profit. Earned premiums grew 25 per cent or NOK 12.2 billion compared to the same period last year. During the same period claims paid increased by 53 per cent, or NOK 18.9 billion.

Life insurance. Balance sheet. NOK million
	3rd quarter 2007	3rd quarter 2006


Total assets	722 692	647 425
Investments in subsidiaries and other shares, participation and primary capital certificates	248 122	207 890
Holdings of bonds	298 787	315 455
Holdings of certificates	16 146	18 073

Assets increased

Total assets increased by NOK 17 billion since the third quarter of 2006. This equals a 2 per cent growth, which is 1 percentage point higher than last year growth. Investments in subsidiaries and other shares, participation and primary capital certificates made up 34 per cent, while bonds made up 41 per cent of total assets. This is a reduction of respectively 4 percentage points and 1 percentage points compared to the second quarter of 2007.

Non-life insurance. Profit and loss account. NOK million
	3rd quarter 2007	3rd quarter 2006


Earned premiums	33 747	31 441
Claims incurred	23 929	22 187
Profit/loss of ordinary activities	5 299	5 502

Net income from financial assets	4 962	3 913
Profit/loss of the technical account	4 134	4 258

Profit in non-life insurance

Non-life insurance companies achieved a period result of NOK 1.5 billion during the third quarter of 2007. This is the 11th successive quarter with positive profit. The achieved profit for the three first quarters of 2007 was NOK 4.2 billion, a decrease of NOK 1 billion compared to the same quarters in 2006. The earned premiums increase with NOK 2.3 billion compared to the third quarter of 2006, while the paid claims increase with NOK 1.7 billion compared to the same period.

Non-insurance. Balance sheet. NOK million
	3rd quarter 2007	3rd quarter 2006


Total assets	167 767	140 652
Investments in subsidiaries and other shares, participation and primary capital certificates	42 308	28 348
Holdings of bonds	44 854	47 731
Holdings of certificates	9 538	12 860

Total assets decreased by NOK 1.2 billion since the second quarter of 2007. Investments in subsidiaries and other shares, participation and primary capital certificates made up 25 per cent, while bonds made up 26 per cent of total assets. This is an increase of 1 percentage points for both, compared to the second quarter of 2007.