Life and non-life insurance companies, premiums and disbursements, 2005

During 2005, the earned premiums increased by 9 per cent, for the non-life insurance industry, while the claims incurred increased by 11 per cent. This equals NOK 3.3 and 2.7 billion. As the figure shows, the premiums have experienced a larger and more stable growth than the claims. The growth of the claims declined in the period between 2001 and 2004. However, this changed during 2005, and the growth rate for the claims was higher than for the premiums.

The distribution of the premiums and claims incurred in different insurance classes has remained relatively stable. Almost 90 per cent of the premiums come from non-marine services. Half of the premium income from the non-marine services is received from private insurance customers, while 39 per cent is received from industry. The premiums from the marine sector are 8 per cent of the total premium income. The claims incurred are divided in a similar manner.

Life insurance

During 2005, the earned premiums increased by 12 per cent for the life insurance companies, while the claims incurred increased by 16 per cent. This is a stronger growth in the claims incurred compared to 2004.

The non-unit-linked life insurance and pension services are by far the largest insurance class in life insurance industry. Linked life insurance services are growing, and were 8 per cent of the premium income during 2005. Compared with 2004, linked life insurance services have grown by 1 percentage point, both as a part of the premiums and claims.

Tables

Published tables