Higher earned premiums for life insurance
Life insurance companies had a 13.5 per cent increase in earned premiums in 2014 compared to the year before. Non-life insurance companies had an increase in gross premium income of 5.5 per cent.
|Life insurance companies|
|Gross premiums written||81 765||92 809|
|Gross claim payment||45 113||46 783|
|Non-life insurance companies|
|Earned premiums||60 142||63 465|
|Claims incurred||41 569||42 637|
The nominal growth in premium income for the non-life insurance industry was NOK 3.3 billion in 2014. During the same period, the growth in claims incurred was NOK 1.1 billion.
Motor vehicle; increase in earned premiums
Motor vehicle insurance services had an increase of 4 per cent in 2014, while claims incurred decreased by 1.0 per cent.
Increase in premiums written for life insurance
Premiums written for life insurance increased by 13.5 per cent from 2013 to 2014. During the same period, gross claim payments increased by 3.6 per cent and amounted to NOK 46.8 billion.
Increase in premiums written for defined contribution pension schemes
Defined contribution pension schemes account for the largest share of premiums written and gross claim payments for life insurance. From 2013 to 2014, premiums written for defined contribution schemes increased by 16.4 per cent, while gross claim payments increased by 9.2 per cent. Individual life insurance services saw the greatest increase in premiums written, with 19.2 per cent. During the same period, gross claim payments decreased by 9.4 per cent.
The statistics is now published as Life and non-life insurance companies, accounts.