Life and non-life insurance companies, accounts

Updated: 18 August 2021

Next update: 12 November 2021

Assets for life-insurance companies
Assets for life-insurance companies
2nd quarter 2021
1 954 478
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
2nd quarter 20203rd quarter 20204th quarter 20201st quarter 20212nd quarter 2021
Earned premiums, net of reinsurance66 20597 383132 32049 437115 788
Gross premiums written51 06879 263106 14531 20877 894
Reinsurers share of gross premiums written-454-584-787-260-459
Transfers of premium reserve from other companies15 59118 70426 96218 48938 353
Claims incurred, net of reinsurance53 52671 84395 61437 05975 335
Gross claims payment33 72348 83565 00416 45632 962
Reinsurance share of gross claims payments-266-377-603-100-212
Other appropriations1 ..........
Transfers of premiumreserve etc. to other companies20 06823 38431 21320 70242 584
Net change in technical provisions-82844 191111 46642 621118 627
Premium reserve9 02943 06990 76933 71189 504
Other technical provisions2 -1 590-1 96414 145162-473
To/from revaluation reserve-13 114-8 981422-1 40712 143
Means allocated insurance contracts4 84612 0676 12910 15617 453
Other operating income/ costs-2 235-3 169-4 635-1 507-3 178
Commision received5925589104241
Operating income, real property213186920
Other operating income2 1603 1814 2266511 338
Personell costs1 5942 4023 2437591 587
Commision submitted5417931 030287609
Operating costs, real property00100
Depreciations of non-financial assets16324936790181
Other operating costs2 1773 1924 3961 1362 400
Investment income /costs18 44829 04442 32911 51824 943
Interest income bonds and certificates10 07816 99422 4077 83913 708
Interest income other assets3 4094 3486 9091 1582 432
Share dividend etc.6 0909 06614 6093 0719 255
Interest costs1 1291 3641 595551451
Gains/losses, value (re-)adjustments on financial assets-29 638-3 53745 68023 43462 638
Realized gains/losses-1 12017 29823 76316 78330 415
Shares, participations and primary capital certificates21 44129 39935 4146 25913 892
Bonds and certificates5 1084 9592 531-308303
Financial derivatives-24 390-14 106-11 18310 16315 113
Land and buildings001....
Other realized gains/losses-3 279-2 955-3 0006691 107
Net change in value-28 519-20 83521 9186 65132 223
Shares, participations and primary capital certificates-31 317-18 7484 83410 41437 682
Bonds and certificates3 0142 934719-2 229-1 619
Financial derivatives3 311-4 6048 488-5 756-13 902
Land and buildings-1-2-2....
Other net change in value-3 526-4157 8794 22210 063
Profitt/loss on ordinary activities833 6878 6153 2016 228
Other result components-314-253-95132117
Tax-1 003-344603623991
Total Profitt/loss7723 7787 9172 7095 354
Specifications
Balance on the technical account for life insurance-1 9351 0434 6381 4853 226
Value-adjusted profitt/loss-13 031-5 2949 0371 79418 371
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
2nd quarter 20203rd quarter 20204th quarter 20201st quarter 20212nd quarter 2021
Assets
Intangible assets4 6794 6994 6424 4414 600
Tangible fixed assets1 3082 2572 3302 2692 244
Land and buildings9979891 0401 0141 025
Machinery, equipment and vehicles3111 2681 2901 2541 220
Capital investments1 523 2441 558 1731 620 5861 670 6221 735 036
Shares, participation and primary capital certificate245 275250 319267 820279 240293 959
Shares in securities' fund639 529678 791723 305758 265806 646
Bonds and certificates609 463610 779606 174620 114623 241
Financial derivatives15 2729 22819 90411 2284 063
Other capital investment13 7069 0563 3821 7767 128
Loans156 994150 694153 883149 138149 889
Remaining claims7 13311 2268 5008 71531 187
Insurance claims2 7516 0123 0833 83423 138
Reinsurance share of technical provisions1 5641 5761 6381 6801 705
Other claims2 8183 6383 7793 2016 343
Cash and bank deposits35 33134 42441 17236 80531 522
Total assets1 728 6881 761 4741 831 1121 871 9891 954 478
Liabilities and equity capital
Eqiuty capital113 510117 869119 718121 309123 972
Deposit capital48 55749 95551 08450 01450 031
Company capital7 3037 3037 3037 2757 275
Share premium account20 35720 55720 55719 74519 745
Other deposit capital20 89722 09523 22422 99523 012
Retained earnings64 95367 91368 63471 29673 940
Other equity57 78257 96059 68961 37561 561
Not allocated profit7 1709 9548 9469 92012 380
Subordinated liabilities26 69526 86926 65328 49628 473
Bonds15 32515 49915 03316 87616 853
Other subordinated loans11 37011 37011 62011 62011 620
Technical provisions1 540 5121 582 9651 649 9841 692 8341 771 430
Premium reserve1 1 376 2421 410 3241 435 8111 471 0941 528 023
Additional provisions63 12463 04973 12073 37073 582
Revaluation reserve74 27378 40587 80986 40299 951
Net provision for outstanding claims2 ..........
Premium and pension provision20 45517 56451 18451 10350 936
Net other technical provisions1 7591 7211 8892 3224 089
Unallocated surplus funds to insurance contracts4 66011 9031728 54414 849
Provisions for other charges3 3404 6034 5644 5804 682
Provisions for pension1 1911 151954821848
Deffered tax1 7682 1072 2852 4642 584
Other provisions for charges3811 3461 3261 2941 250
Remaining liabilites44 63129 16830 19324 77025 921
Expences accrued700628803877812
Deffered income715102015
Payable tax2 2982 4793 1642 7992 007
Dividend....152399..
Insurance liabilities2 9092 0482 6602 2072 571
Other liabilities37 12916 28222 53916 91014 411
Financial derivatives1 5897 7168661 5586 106
Total libilities1 728 6881 761 4741 831 1121 871 9891 954 478
Specifications
Number of companies1818191818
Loan with morgage on dwelling36 86935 10435 95334 73734 689
Net tehcnical provisions where the risk is borne by the policyholder400 730427 148471 391500 718533 013
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
2nd quarter 20203rd quarter 20204th quarter 20201st quarter 20212nd quarter 2021
Earned premiums, net of reinsurance39 05959 27679 60220 89740 808
Gross premiums written57 90775 63596 05139 05761 093
Reinsurers share of gross premiums writtens-8 232-10 973-13 998-5 642-8 740
Gross change in the provision for unearned premiums-12 596-6 454-2 739-14 324-13 427
Reinsurance share1 9801 0692891 8061 882
Claims incurred and net change in technical provisions27 53640 79157 67415 06928 443
Gross claims payment33 12348 44064 95716 99232 493
Reinsurers share of gross claims payments-4 212-7 393-10 195-2 342-4 791
Gross change in the provision for outstanding claims-6583474 262-378969
Reinsurers share, gross change in the provision for outstanding claims-727-594-1 363801-223
Bonus and rebates1 ..........
Net change in technical provision2 10-1013-4-6
Other operating income/ costs-7 420-11 121-14 973-3 925-7 679
Commision received1111622114583
Operating income, real property7131859
Other operating income229303546154267
Personell costs3 8966 0678 3992 4374 700
Commision submitted1 9442 6233 4679641 697
Operating costs, real property481224
Depreciations of non-financial assets368570813180403
Other operating costs1 5532 3303 0575461 234
Investment income /costs1 5392 4863 7001 0021 878
Interest income1 6772 3902 8726121 143
Share dividend etc.-172681 053440832
Interest costs1221722255097
Gains/losses, value (re-)adjustments on financial assets2252 1414 9321 7843 642
Net realized gains/losses2071 6592 2061 8873 348
Net change in value184822 726-103294
Profitt/loss on ordinary activities5 86611 99315 5874 68910 205
Other result components-195-175-1715333
Tax1 3652 8353 4856941 729
Total Profitt/loss4 3068 98311 9314 0478 509
Specifications
Balance on the technical account for non-life insurance4 3967 9877 7782 0635 085
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
2nd quarter 20203rd quarter 20204th quarter 20201st quarter 20212nd quarter 2021
Assets
Intangible assets8 3087 9657 7717 2337 256
Tangible fixed assets2 3482 2812 1792 1792 407
Land and buildings378359334327326
Machinery, equipment and vehicles1 9701 9221 8451 8522 081
Capital investments159 002157 433160 204161 413164 686
Shares, participation and primary capital certificates21 02821 98323 52624 18924 199
Shares in securities' fund33 73835 21835 61339 37840 840
Bonds and certificates102 53698 58998 75796 37598 594
Financial derivatives1 1557201 421696517
Other capital investments544922887775537
Loans4 3294 4064 6524 2384 364
Reinsurance share of technical provisions24 33024 37322 92726 20227 257
Remaining claims64 24461 06859 80874 15968 094
Insurance claims32 79628 88628 33935 73735 511
Other claims31 44832 18231 47038 42132 583
Cash and bank deposits15 56513 84212 97716 60312 938
Total assets278 126271 367270 518292 027287 002
Liabilities and equity capital
Eqiuty capital92 25691 15287 25889 86294 149
Deposit capital18 28818 34218 67921 09121 134
Company capital4 6434 6594 6694 6694 669
Share premium account8 1508 1708 3318 4818 482
Other deposit capital5 4955 5125 6797 9417 983
Retained earnings73 96772 81068 57968 77173 015
Other equity67 56262 18958 53162 56063 013
Not allocated profit6 40510 62210 0486 21010 002
Subordinated liabilities3 2373 2363 3914 5884 359
Bonds2 9232 9223 0774 2744 045
Other subordinated loans314314314314314
Technical provisions141 048135 325132 552145 062144 972
Gross provision for unearned premium44 63438 93235 30648 85447 533
Gross Provision for outstanding claims91 92092 08793 00092 10193 038
Gross provision for bonuses and rebates2 ..........
Equalization provision1 4 4954 3064 2464 1064 400
Other technical provision2 ..........
Provisions for other charges11 59411 24210 86710 41311 348
Provisions for pension1 4661 4331 4941 4651 434
Deffered tax7 1966 7936 3996 1056 726
Other provisions for charges2 9323 0152 9732 8433 188
Remaning liabilites29 99230 41236 45042 10332 175
Expences accrued1 5371 7581 8371 9001 797
Deffered income13597258165167
Payable tax3 7135 0345 4733 9993 923
Dividend10106 3547 60613
Insurance liabilities7 9116 3666 02710 01710 126
Other liabilities16 15716 30316 14818 07515 704
Financial derivatives530843353341444
Total libilities278 126271 367270 518292 027287 002
Specifications
Number of companies8383807979
Loan with morgage on dwelling493517273236233
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

12 November 2021

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





Contact