Life and non-life insurance companies, accounts

Updated: 12 November 2021

Next update: 17 February 2022

Assets for life-insurance companies
Assets for life-insurance companies
3rd quarter 2021
1 974 851
NOK million

Selected tables and figures from this statistics

Life insurance companies. Profitt and loss account. NOK Million
Life insurance companies. Profitt and loss account. NOK Million
3rd quarter 20204th quarter 20201st quarter 20212nd quarter 20213rd quarter 2021
Earned premiums, net of reinsurance97 383132 46249 437115 788169 882
Gross premiums written79 263106 31531 20877 894107 549
Reinsurers share of gross premiums written-584-787-260-459-580
Transfers of premium reserve from other companies18 70426 93518 48938 35362 913
Claims incurred, net of reinsurance71 84395 55337 05975 335119 816
Gross claims payment48 83564 85616 45632 96250 382
Reinsurance share of gross claims payments-377-601-100-212-318
Other appropriations1 ..........
Transfers of premiumreserve etc. to other companies23 38431 29720 70242 58469 752
Net change in technical provisions44 191111 96842 621118 627140 174
Premium reserve43 06972 23333 71189 504106 219
Other technical provisions2 -1 96434 182162-473-469
To/from revaluation reserve-8 981422-1 40712 14312 376
Means allocated insurance contracts12 0675 13110 15617 45322 047
Other operating income/ costs-3 169-4 851-1 507-3 178-4 701
Commision received25577104241389
Operating income, real property318692030
Other operating income3 1814 0946511 3381 977
Personell costs2 4023 2277591 5872 405
Commision submitted7931 030287609910
Operating costs, real property01000
Depreciations of non-financial assets24936790181275
Other operating costs3 1924 4821 1362 4003 508
Investment income /costs29 04442 32511 51824 94334 246
Interest income bonds and certificates16 99422 4077 83913 70818 187
Interest income other assets4 3486 9041 1582 4324 162
Share dividend etc.9 06614 6093 0719 25512 578
Interest costs1 3641 595551451680
Gains/losses, value (re-)adjustments on financial assets-3 53746 20523 43462 63869 202
Realized gains/losses17 29823 76316 78330 41534 426
Shares, participations and primary capital certificates29 39935 4186 25913 88821 952
Bonds and certificates4 9592 528-308307559
Financial derivatives-14 106-11 18310 16315 11310 901
Land and buildings01....0
Other realized gains/losses-2 955-3 0016691 1071 013
Net change in value-20 83522 4436 65132 22334 776
Shares, participations and primary capital certificates-18 7485 37310 41437 68737 909
Bonds and certificates2 934704-2 229-1 624-2 097
Financial derivatives-4 6048 426-5 756-13 902-11 371
Land and buildings-261......
Other net change in value-4157 8794 22210 06310 335
Profitt/loss on ordinary activities3 6878 6203 2016 2288 639
Other result components-253-83132117-220
Tax-3448026239911 599
Total Profitt/loss3 7787 7352 7095 3546 820
Specifications
Balance on the technical account for life insurance1 04311 6561 4853 2265 094
Value-adjusted profitt/loss-5 2949 0421 79418 37121 015
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in complementary provisions is discontinued, the remaining items are continued
Explanation of symbols
Life insurance companies. Balance sheet by financial instrument. NOK Million
Life insurance companies. Balance sheet by financial instrument. NOK Million
3rd quarter 20204th quarter 20201st quarter 20212nd quarter 20213rd quarter 2021
Assets
Intangible assets2 5022 7252 7762 8282 858
Tangible fixed assets2 2572 3302 2692 2442 202
Land and buildings9891 0401 0141 0251 022
Machinery, equipment and vehicles1 2681 2901 2541 2201 180
Capital investments1 558 1731 621 3051 670 6221 735 0361 766 939
Shares, participation and primary capital certificate250 319268 072279 240293 959307 137
Shares in securities' fund678 791723 770758 265806 646807 387
Bonds and certificates610 779606 174620 114623 241640 965
Financial derivatives9 22819 90411 2284 0636 807
Other capital investment9 0563 3851 7767 1284 644
Loans150 694153 883149 138149 889150 907
Remaining claims13 42410 48010 38032 95913 270
Insurance claims6 0123 1663 83423 1383 761
Reinsurance share of technical provisions1 5761 6171 6801 7051 741
Other claims5 8355 6974 8668 1157 769
Cash and bank deposits34 42441 18836 80531 52238 676
Total assets1 761 4741 831 9111 871 9891 954 4781 974 851
Liabilities and equity capital
Eqiuty capital117 869119 456121 309123 972126 499
Deposit capital49 95551 08450 01450 03151 071
Company capital7 3037 3037 2757 2757 275
Share premium account20 55720 55719 74519 74519 745
Other deposit capital22 09523 22422 99523 01224 052
Retained earnings67 91368 37271 29673 94075 428
Other equity57 96068 37261 37561 56161 828
Not allocated profit9 954..9 92012 38013 600
Subordinated liabilities26 86926 65328 49628 47329 343
Bonds15 49915 03316 87616 85317 723
Other subordinated loans11 37011 62011 62011 62011 620
Technical provisions1 582 9651 650 4401 692 8341 771 4301 783 908
Premium reserve1 1 410 3241 436 5071 471 0941 528 0231 545 104
Additional provisions63 04973 13073 37073 58273 105
Revaluation reserve78 40587 80986 40299 951100 185
Net provision for outstanding claims2 ..........
Premium and pension provision17 56451 16751 10350 93642 291
Net other technical provisions1 7211 8282 3224 0894 135
Unallocated surplus funds to insurance contracts11 903..8 54414 84919 088
Provisions for other charges4 6034 5774 5804 6825 056
Provisions for pension1 1519558218481 101
Deffered tax2 1072 3252 4642 5842 729
Other provisions for charges1 3461 2971 2941 2501 226
Remaining liabilites29 16830 78524 77025 92130 046
Expences accrued628821877812730
Deffered income1510201517
Payable tax2 4793 1392 7992 0072 272
Dividend..420399....
Insurance liabilities2 0482 6482 2072 5714 526
Other liabilities16 28222 88116 91014 41120 093
Financial derivatives7 7168661 5586 1062 407
Total libilities1 761 4741 831 9111 871 9891 954 4781 974 851
Specifications
Number of companies1819181819
Loan with morgage on dwelling35 10435 95334 73734 68933 012
Net tehcnical provisions where the risk is borne by the policyholder427 148471 867500 718533 013543 557
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Explanation of symbols
Non-life insurance company. Profitt and loss account. NOK Million
Non-life insurance company. Profitt and loss account. NOK Million
3rd quarter 20204th quarter 20201st quarter 20212nd quarter 20213rd quarter 2021
Earned premiums, net of reinsurance59 27679 61320 89740 80862 453
Gross premiums written75 63595 27339 05761 09380 060
Reinsurers share of gross premiums writtens-10 973-13 484-5 642-8 740-11 389
Gross change in the provision for unearned premiums-6 454-2 218-14 324-13 427-7 091
Reinsurance share1 069421 8061 882874
Claims incurred and net change in technical provisions40 79158 48715 06928 44342 127
Gross claims payment48 44063 29616 99232 49347 188
Reinsurers share of gross claims payments-7 393-7 285-2 342-4 791-7 407
Gross change in the provision for outstanding claims3474 285-3789692 901
Reinsurers share, gross change in the provision for outstanding claims-594-1 843801-223-530
Bonus and rebates1 ..........
Net change in technical provision2 -1035-4-6-25
Other operating income/ costs-11 121-14 131-3 925-7 679-11 466
Commision received1622054583117
Operating income, real property13185914
Other operating income303545154267392
Personell costs6 0677 4692 4374 7007 099
Commision submitted2 6233 3429641 6972 555
Operating costs, real property811246
Depreciations of non-financial assets570804180403592
Other operating costs2 3303 2745461 2341 737
Investment income /costs2 4863 7531 0021 8782 517
Interest income2 3902 8716121 1421 748
Share dividend etc.2681 105440833914
Interest costs1722235097145
Gains/losses, value (re-)adjustments on financial assets2 1415 0511 7843 6424 048
Net realized gains/losses1 6592 1931 8873 3484 095
Net change in value4822 859-103294-48
Profitt/loss on ordinary activities11 99315 7984 68910 20515 426
Other result components-175-305533326
Tax2 8353 7476941 7293 026
Total Profitt/loss8 98311 7464 0478 50912 425
Specifications
Balance on the technical account for non-life insurance7 9879 5002 0635 0859 290
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.
Explanation of symbols
Non-life insurance companies. Balance sheet by financial instrument. NOK Million
Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
3rd quarter 20204th quarter 20201st quarter 20212nd quarter 20213rd quarter 2021
Assets
Intangible assets7 1907 1077 0597 0717 036
Tangible fixed assets2 2812 1662 1792 4072 346
Land and buildings359337327326329
Machinery, equipment and vehicles1 9221 8281 8522 0812 018
Capital investments157 433159 375161 413164 686164 733
Shares, participation and primary capital certificates21 98323 65124 18924 19924 122
Shares in securities' fund35 21835 52139 37840 84043 149
Bonds and certificates98 58998 18096 37598 59496 160
Financial derivatives7201 142696517660
Other capital investments922880775537641
Loans4 4064 6524 2384 3644 452
Reinsurance share of technical provisions24 37323 07226 20227 25727 213
Remaining claims61 84362 95274 33368 27965 491
Insurance claims28 88628 63535 73735 51131 855
Other claims32 95734 31738 59632 76733 636
Cash and bank deposits13 84212 49816 60312 93813 157
Total assets271 367271 821292 027287 002284 428
Liabilities and equity capital
Eqiuty capital91 15286 53489 86294 14994 804
Deposit capital18 34219 90221 09121 13420 122
Company capital4 6594 6684 6694 6694 658
Share premium account8 1708 3318 4818 4828 478
Other deposit capital5 5126 9027 9417 9836 986
Retained earnings72 81066 63268 77173 01574 682
Other equity62 18966 63262 56063 01361 659
Not allocated profit10 622..6 21010 00213 023
Subordinated liabilities3 2363 3914 5884 3594 360
Bonds2 9223 0774 2744 0454 046
Other subordinated loans314314314314314
Technical provisions135 325132 139145 062144 972141 470
Gross provision for unearned premium38 93235 52948 85447 53341 524
Gross Provision for outstanding claims92 08792 02092 10193 03895 467
Gross provision for bonuses and rebates2 ..........
Equalization provision1 4 3064 5914 1064 4004 478
Other technical provision2 ..........
Provisions for other charges11 24210 58210 41310 38810 207
Provisions for pension1 4331 5241 4651 4341 468
Deffered tax6 7936 1526 1055 7655 580
Other provisions for charges3 0152 9062 8433 1883 159
Remaning liabilites30 41239 17542 10333 13533 588
Expences accrued1 7581 9311 9001 7971 798
Deffered income9726016516793
Payable tax5 0345 0803 9994 8846 300
Dividend109 3747 606132 000
Insurance liabilities6 3666 53310 01710 1267 988
Other liabilities16 30315 92418 07515 70415 145
Financial derivatives84374341444264
Total libilities271 367271 821292 027287 002284 428
Specifications
Number of companies8380797979
Loan with morgage on dwelling517273236233235
11st quarter of 2016: The Equalization provision discontinued. The provision for unexpired risk is continued.
21st quarter of 2016: Closed series
Explanation of symbols

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.

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.

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.

Name: Life and non-life insurance companies, accounts

Topic: Banking and financial markets

17 February 2022

Division for Financial Markets Statistics

Only at the national level.

Annual and quarterly.

Eurostat

Publication-ready data are stored in a FAME-database

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.

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.

Not relevant

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.

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).

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

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.

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).

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.

Not relevant

Not relevant

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.

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.

Not relevant





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