Life and non-life insurance companies, premiums and disbursements, 2012

Growth in earned premiums for non-life insurance

The nominal growth in premium income for the non-life insurance industry was NOK 2.9 billion in 2012. Looking at the same period, the growth in claims incurred was NOK 383 million. This means that premium income exceeded claims incurred by NOK 2.6 billion.

House insurance; increase in earned premiums

Motor vehicle insurance services had an increase of 3.4 per cent in 2012, while claims incurred increased by 4.4 per cent. In 2012, house insurance services had an increase in earned premiums of 11.7 per cent. In the same period, claims incurred decreased by 14.6 per cent. For private insurance, cottage insurance experienced the highest decline in both earned premiums and claims incurred.

Increased premiums for life insurance

Gross premium income for life insurance increased by NOK 10.4 billion from 2011 to 2012. During the same period, gross claim payments increased by 9.5 per cent and amounted to NOK 44.5 billion.

Increase in earned premiums for group pension

The group pension service has the largest share of the gross premium income and gross claim payments for life insurance. From 2011 to 2012, gross premium income for group pension services increased by 16.2 per cent. Individual life insurance services had an increase in gross claim payments of 21.1 per cent. Gross claim payments for group pension services increased by 9.2 per cent in 2012. Group life insurance had a 5.9 per cent increase in gross premium income over the same period.