Key figures
8.8 %
increase in premium income for life insurance companies in 2019
Total | Total | |
---|---|---|
2018 | 2019 | |
Life insurance companies | ||
Gross premium written | 99 932 | 108 693 |
Gross claim payment | 58 850 | 60 151 |
Non-life insurance companies | ||
Earned premiums | 69 085 | 73 986 |
Claims incurred | 49 706 | 55 600 |
See selected tables from this statistics
Table 1
Life insurance companies. Breakdown og gross premiums and claims by classes. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Updated at 10:25 am 17 June 2020. | |||||
Gross premiums written | 91 785 | 94 084 | 93 448 | 99 932 | 108 693 |
Non-linked life insurance and pension services | 91 785 | 94 084 | 93 448 | 99 932 | 108 693 |
Individual life insurance services | 15 880 | 15 512 | 14 379 | 11 763 | 14 786 |
Individual pension services | 2 131 | 2 110 | 2 898 | 2 956 | 3 327 |
Company pension schemes | 15 420 | 11 380 | 7 737 | 7 039 | 6 805 |
Defined contribution schemes | 20 417 | 23 199 | 26 787 | 28 971 | 32 288 |
Occupational schemes | 159 | 529 | 1 691 | 1 876 | 2 047 |
Groupe life insurance services | 2 163 | 2 191 | 2 201 | 2 176 | 2 245 |
Collective pension insurance for municipalities | 34 108 | 37 752 | 36 330 | 43 680 | 45 540 |
Accident insurance services | 1 506 | 1 413 | 1 425 | 1 472 | 1 656 |
Gross claim payments | 49 257 | 51 231 | 54 258 | 58 850 | 60 151 |
Non-linked life insurance and pension services | 49 257 | 51 231 | 54 258 | 58 850 | 60 151 |
Individual life insurance services | 8 201 | 7 841 | 9 562 | 11 741 | 10 255 |
Individual pension services | 6 795 | 7 279 | 6 528 | 6 438 | 6 265 |
Company pension schemes | 13 286 | 14 005 | 14 126 | 15 395 | 15 778 |
Defined contribution schemes | 961 | 1 149 | 1 820 | 1 644 | 2 201 |
Occupational schemes | -54 | -12 | 309 | 217 | 253 |
Groupe life insurance services | 1 344 | 1 398 | 1 361 | 1 521 | 1 725 |
Collective pension insurance for municipalities | 18 077 | 18 989 | 19 939 | 21 257 | 22 936 |
Accident insurance services | 647 | 582 | 613 | 637 | 738 |
Table 2
Non-life insurance companies. Breakdown of premiums and claims
2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|
Earned premiums | 65 951 | 66 470 | 69 085 | 73 986 |
Insurance against expenses for medical treatment | 1 735 | 1 675 | 1 826 | 1 849 |
Insurance against loss of income | 3 899 | 3 796 | 3 966 | 3 936 |
Accident insurance services - industry | 2 339 | 2 305 | 2 256 | 2 400 |
Motor vehicle insurance services, third party liability | 7 726 | 7 622 | 8 054 | 8 563 |
Motor vehicle insurance services, other classes | 11 781 | 12 032 | 13 235 | 14 360 |
Maritim insurance, transport insurance, aviation insurance | 7 948 | 7 638 | 7 435 | 8 501 |
Insurance against fire and other property damage | 20 175 | 20 247 | 20 389 | 21 070 |
Liability insurance | 1 659 | 1 732 | 1 822 | 2 691 |
Credit- and surety insurance | 238 | 268 | 285 | -122 |
Legal aid insurance | 31 | 33 | 37 | 41 |
Assistance insurance | 2 977 | 3 102 | 3 294 | 3 446 |
Insurance agains various economic losses | 2 478 | 2 912 | 3 222 | 3 975 |
Health insurance | 1 787 | 2 360 | 2 530 | 2 672 |
Annuities for non-life insurance | .. | -4 | .. | .. |
Distorted from old industry grouping | .. | .. | .. | .. |
Claims incurred | 44 508 | 45 230 | 49 706 | 55 600 |
Insurance against expenses for medical treatment | 1 337 | 1 239 | 1 461 | 1 457 |
Insurance against loss of income | 2 613 | 2 281 | 1 963 | 2 323 |
Accident insurance services - industry | 1 101 | 1 454 | 579 | 1 518 |
Motor vehicle insurance services, third party liability | 4 422 | 3 667 | 3 767 | 4 125 |
Motor vehicle insurance services, other classes | 8 127 | 9 519 | 10 993 | 11 873 |
Maritim insurance, transport insurance, aviation insurance | 5 336 | 5 891 | 5 884 | 7 559 |
Insurance against fire and other property damage | 14 565 | 14 121 | 16 514 | 16 292 |
Liability insurance | 1 001 | 1 227 | 1 112 | 1 530 |
Credit- and surety insurance | 73 | 67 | 29 | 34 |
Legal aid insurance | 30 | 48 | 36 | 45 |
Assistance insurance | 2 105 | 2 138 | 2 352 | 2 335 |
Insurance agains various economic losses | 1 749 | 1 984 | 2 616 | 3 748 |
Health insurance | 1 273 | 1 255 | 1 988 | 2 380 |
Annuities for non-life insurance | 53 | 20 | 51 | 68 |
Distorted from old industry grouping | .. | .. | .. | .. |
Table 3
Key figures. NOK Million
Total | ||
---|---|---|
2018 | 2019 | |
Life insurance companies | ||
Assets | 1 540 297 | 1 704 770 |
Earned premium | 112 909 | 122 435 |
Gross claims payment | 59 169 | 60 881 |
Profitt/loss before tax and allocation to customers | 9 099 | 10 028 |
Value-adjusted profitt/loss | -5 855 | 48 398 |
Net income from financial assets | 10 400 | 137 632 |
Non-life insurance companies | ||
Assets | 246 143 | 255 574 |
Earned premium | 69 085 | 73 986 |
Gross claims payments | 58 339 | 63 072 |
Profitt/loss on ordinary activities | 8 353 | 17 407 |
Profitt/loss on the technical account | 6 490 | 4 631 |
Table 4
Life insurance companies. Profitt and loss account. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Earned premiums, net of reinsurance | 106 117 | 104 597 | 103 984 | 112 909 | 122 435 |
Gross premiums written | 91 785 | 94 084 | 93 448 | 99 932 | 108 693 |
Reinsurers share of gross premiums written | -1 190 | -1 039 | -943 | -912 | -767 |
Transfer of premium reserve from other companies | 15 522 | 11 552 | 11 480 | 13 888 | 14 510 |
Claims incurred, net of reinsurance | 72 691 | 62 615 | 65 298 | 73 044 | 74 955 |
Gross claim payment | 50 063 | 51 829 | 54 725 | 59 169 | 60 881 |
Reinsurers share of gross claim payments | -805 | -598 | -466 | -319 | -730 |
Other provisions | 458 | .. | .. | .. | .. |
Transfer of premiumreserve etc. to other companies | 22 976 | 11 384 | 11 040 | 14 194 | 14 804 |
Net change in technical provisions | 69 177 | 93 644 | 118 974 | 34 616 | 168 185 |
Premium reserve | 43 477 | 73 470 | 86 740 | 40 525 | 115 589 |
Other technical provisions | 4 332 | 8 676 | 6 401 | 3 291 | 520 |
To/from revaluation reserve | 1 616 | 5 331 | 18 003 | -14 954 | 38 371 |
Means allocated to insurance contracts | 19 753 | 6 167 | 7 830 | 5 754 | 13 705 |
Other operating income/ costs | -6 148 | -8 066 | -4 235 | -6 551 | -6 900 |
Commisions received | 55 | -193 | -271 | -81 | -162 |
Operating income, real property | 43 | 183 | 42 | 100 | 68 |
Other operating income | 1 307 | 1 609 | 1 768 | 1 845 | 2 175 |
Personnel cost | 2 989 | 2 883 | 3 056 | 3 092 | 3 385 |
Commisions submitted | 1 002 | 987 | 846 | 768 | 949 |
Operating costs, real property | 2 | 2 | 1 | 1 | 1 |
Depreciations of non-financial assets | 295 | 572 | 285 | 336 | 299 |
Other operating costs | 3 265 | 5 222 | 1 585 | 4 217 | 4 348 |
Investment income /costs | 40 922 | 36 072 | 41 708 | 36 055 | 44 485 |
Interest income from bonds and certificates | 21 198 | 22 200 | 23 702 | 22 031 | 21 235 |
Interest income other assets | 7 562 | 4 759 | 6 078 | 5 768 | 7 894 |
Share dividend etc. | 13 583 | 10 760 | 13 405 | 9 592 | 17 030 |
Interest costs | 1 421 | 1 647 | 1 476 | 1 336 | 1 674 |
Gains/losses, value (re-)adjustments on financial assets | 9 293 | 29 080 | 52 272 | -25 655 | 93 147 |
Realized gains/losses | 4 258 | 15 907 | 16 441 | 9 942 | 8 170 |
Shares, participations and primary capital certificates | 21 819 | 8 309 | 15 519 | 12 873 | 19 692 |
Bonds and certificates | 3 502 | 298 | 1 044 | 2 182 | 1 892 |
Financial derivatives | -21 718 | 7 241 | 12 | -6 120 | -12 071 |
Land and buildings | 1 | 10 | 5 | 369 | 1 |
Other realizes gains/ losses | 654 | 49 | -139 | 639 | -1 345 |
Net change in value | 5 035 | 13 173 | 35 831 | -35 596 | 84 976 |
Shares, participations and primary capital certificates | 2 022 | 8 393 | 30 052 | -26 897 | 58 668 |
Bonds and certificates | -307 | -1 958 | -1 255 | -1 679 | 489 |
Financial derivatives | 1 776 | 3 523 | -40 | -2 955 | 10 586 |
Land and buildings | 12 | 142 | .. | 0 | 31 |
Other net change in value | 1 533 | 3 073 | 7 075 | -4 066 | 15 204 |
Profitt/loss on ordinary activities | 8 316 | 5 424 | 9 458 | 9 099 | 10 028 |
Other result components | 312 | -127 | -13 | -28 | 102 |
Tax | -1 750 | -286 | 967 | -81 | 1 921 |
Total Profitt/loss | 10 378 | 5 584 | 8 478 | 9 152 | 8 209 |
Specifications | |||||
Balance on the technical account for life insurance | 17 547 | 4 927 | 4 886 | 6 537 | 5 961 |
Value-adjusted profitt/loss | 9 932 | 10 754 | 27 460 | -5 855 | 48 398 |
Table 5
Life insurance companies. Balance sheet by financial instrument. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Assets | |||||
Intangible assets | 1 567 | 1 488 | 1 178 | 2 743 | 2 431 |
Tangible fixed assets | 980 | 1 195 | 1 175 | 1 076 | 1 412 |
Land and buildings | 910 | 1 051 | 1 043 | 962 | 985 |
Machinery, equipment and vehicles | 70 | 144 | 132 | 115 | 427 |
Capital investments | 1 160 190 | 1 238 544 | 1 347 658 | 1 360 395 | 1 511 827 |
Shares, participation and primary capital certificates | 201 952 | 205 300 | 219 179 | 204 506 | 246 874 |
Shares in security funds | 449 384 | 497 782 | 566 082 | 569 130 | 668 680 |
Bonds and certificates | 503 018 | 529 711 | 557 622 | 579 178 | 583 315 |
Financial derivatives | 2 999 | 3 288 | 2 738 | 3 041 | 10 555 |
Other capital investments | 2 838 | 2 464 | 2 037 | 4 540 | 2 404 |
Loans | 87 210 | 109 460 | 118 544 | 144 969 | 149 988 |
Other claims | 5 987 | 4 215 | 4 944 | 6 231 | 4 718 |
Insurance claims | 3 464 | 1 357 | 1 899 | 1 531 | 1 570 |
Reinsurance share of technical provisions | 892 | 944 | 923 | 1 490 | 1 595 |
Other claims | 1 631 | 1 914 | 2 123 | 3 210 | 1 554 |
Cash and bank deposits | 32 333 | 25 533 | 26 144 | 24 883 | 34 394 |
Total assets | 1 288 268 | 1 380 435 | 1 499 643 | 1 540 297 | 1 704 770 |
Liabilities and equity capital | |||||
Eqiuty capital | 85 064 | 92 407 | 100 583 | 105 491 | 111 933 |
Deposit capital | 37 523 | 39 270 | 41 108 | 42 241 | 45 934 |
Company capital | 7 847 | 7 847 | 7 847 | 7 612 | 7 264 |
Share premium account | 17 849 | 17 874 | 18 114 | 17 920 | 18 090 |
Other deposit capital | 11 827 | 13 549 | 15 147 | 16 709 | 20 579 |
Retained earnings | 47 541 | 53 137 | 59 475 | 63 250 | 65 999 |
Other equity | 47 541 | 53 137 | 59 475 | 63 250 | 65 999 |
Subordinated liabilities | 27 631 | 26 084 | 26 971 | 28 008 | 28 769 |
Bonds | 18 061 | 16 514 | 17 401 | 16 938 | 17 699 |
Other subordinated loans | 9 570 | 9 570 | 9 570 | 11 070 | 11 070 |
Technical provisions | 1 151 477 | 1 240 165 | 1 350 413 | 1 378 403 | 1 540 621 |
Premium reserve | 1 038 706 | 1 122 322 | 1 209 536 | 1 251 183 | 1 367 983 |
Additional provisions | 35 700 | 44 382 | 51 343 | 54 945 | 63 792 |
Revaluation reserve | 40 636 | 45 967 | 63 970 | 49 016 | 87 386 |
Net provision for outstanding claim | 10 222 | .. | .. | .. | .. |
Premium and pension provisions | 24 280 | 25 837 | 23 949 | 21 500 | 19 669 |
Net other technical provisions | 1 932 | 1 657 | 1 615 | 1 759 | 1 791 |
Provisions for other charges | 2 716 | 4 917 | 4 040 | 3 820 | 3 634 |
Provisions for pensions | 1 042 | 958 | 916 | 915 | 872 |
Deffered tax | 1 644 | 1 996 | 3 015 | 2 782 | 2 332 |
Other provisions for charges | 30 | 1 963 | 108 | 123 | 430 |
Remaining liabilites | 21 380 | 16 863 | 17 636 | 24 575 | 19 813 |
Expences accrued | 878 | 831 | 824 | 878 | 803 |
Deffered income | 0 | 19 | 4 | 11 | 153 |
Payable tax | 55 | 63 | 78 | 1 384 | 3 092 |
Dividend | 30 | 61 | 76 | .. | 2 200 |
Insurance liabilities | 4 094 | 2 429 | 3 501 | 4 133 | 3 062 |
Other liabilities | 5 917 | 7 257 | 7 525 | 8 020 | 9 290 |
Financial derivatives | 10 405 | 6 203 | 5 629 | 10 147 | 1 212 |
Total libilities | 1 288 268 | 1 380 435 | 1 499 643 | 1 540 297 | 1 704 770 |
Specifications | |||||
Number of companies | 19 | 19 | 19 | 18 | 17 |
Loan with morgage on dwelling | 28 074 | 40 495 | 42 061 | 41 910 | 39 068 |
Net tehcnical provisions where the risk is borne by the policyholder | 197 916 | 238 608 | 297 070 | 315 557 | 398 979 |
Table 6
Non-life insurance. Balance sheet by financial instrument. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Assets | |||||
Intangible assets | 5 988 | 4 870 | 5 546 | 6 120 | 8 513 |
Tangible fixed assets | 1 093 | 1 191 | 1 140 | 1 428 | 2 072 |
Land and buildings | 579 | 607 | 641 | 744 | 359 |
Machinery, equipment and veihicles | 514 | 584 | 498 | 684 | 1 713 |
Capital investments | 148 630 | 149 080 | 153 204 | 147 485 | 152 464 |
Shares, participation and primary capital certificates | 17 139 | 18 288 | 18 465 | 21 266 | 19 751 |
Shares in securities' fund | 32 626 | 31 267 | 33 514 | 31 465 | 35 475 |
Bonds and certificates | 97 468 | 96 990 | 100 470 | 93 722 | 95 366 |
Financial derivatives | 998 | 2 170 | 506 | 320 | 1 340 |
Other capital investments | 399 | 366 | 249 | 712 | 532 |
Loans | 2 451 | 2 328 | 2 693 | 3 879 | 3 787 |
Reinsurance share of technical provisions | 18 217 | 16 701 | 19 765 | 21 110 | 20 854 |
Remaining claims | 54 221 | 53 684 | 52 467 | 56 360 | 55 560 |
Insurance claims | 18 439 | 18 655 | 20 987 | 25 122 | 26 467 |
Other claims | 35 782 | 35 029 | 31 480 | 31 238 | 29 094 |
Cash and bank deposits | 9 205 | 10 306 | 8 542 | 9 762 | 12 324 |
Total assets | 239 806 | 238 160 | 243 356 | 246 143 | 255 574 |
Liabilities and equity capital | |||||
Eqiuty capital | 49 004 | 75 794 | 78 298 | 76 743 | 82 273 |
Deposit capital | 12 594 | 14 251 | 14 902 | 14 605 | 17 094 |
Company capital | 4 736 | 4 938 | 4 984 | 4 859 | 4 642 |
Share premium account | 3 366 | 3 590 | 4 167 | 3 937 | 6 728 |
Other deposit capital | 4 492 | 5 724 | 5 751 | 5 810 | 5 724 |
Retained earnings | 36 410 | 61 543 | 63 396 | 62 137 | 65 179 |
Other equity | 36 410 | 61 543 | 63 396 | 62 137 | 65 179 |
Subordinated liabilities | 1 773 | 2 471 | 3 069 | 3 201 | 3 237 |
Bonds | 1 595 | 2 093 | 2 690 | 2 922 | 2 923 |
Other subordinated loans | 178 | 378 | 378 | 279 | 314 |
Technical provisions | 161 528 | 123 400 | 124 327 | 125 448 | 126 387 |
Gross provision for unearned premium | 28 754 | 27 895 | 28 754 | 30 844 | 32 627 |
Gross provision for outstanding claims | 92 843 | 89 136 | 89 301 | 89 978 | 88 866 |
Gross provision for bonuses and rebates | 80 | .. | .. | .. | .. |
Equalization provision | 38 077 | 6 369 | 6 272 | 4 627 | 4 893 |
Other technical provisions | 1 773 | .. | .. | .. | .. |
Provisions for other charges | 3 380 | 10 273 | 10 509 | 10 362 | 11 357 |
Provisions for pensions | 1 736 | 1 652 | 1 625 | 1 569 | 1 617 |
Deffered tax | 707 | 7 603 | 7 935 | 7 561 | 7 319 |
Other provisions for charges | 937 | 1 018 | 949 | 1 232 | 2 422 |
Remaning liabilites | 24 121 | 26 222 | 27 153 | 30 389 | 32 320 |
Expences accrued | 1 307 | 1 285 | 1 798 | 1 640 | 1 759 |
Deffered income | 236 | 259 | 258 | 280 | 251 |
Payable tax | 2 396 | 2 561 | 2 297 | 1 991 | 2 677 |
Dividend | 5 018 | 5 693 | 5 196 | 6 575 | 6 760 |
Insurance liabilities | 4 952 | 5 116 | 4 515 | 4 905 | 5 622 |
Other liabilities | 9 087 | 9 335 | 12 426 | 14 284 | 15 051 |
Financial derivatives | 1 125 | 1 974 | 663 | 713 | 200 |
Total libilities | 239 806 | 238 160 | 243 356 | 246 143 | 255 574 |
Specifications | |||||
Number of companies | 85 | 86 | 85 | 83 | 82 |
Loan with morgage on dwelling | 277 | 265 | 232 | 255 | 253 |
Table 7
Non-life insurance companies. Profitt and loss account. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Earned premiums, net of reinsurance | 66 338 | 65 951 | 66 470 | 69 085 | 73 986 |
Gross premiums written | 79 131 | 79 366 | 79 205 | 82 689 | 88 628 |
Reinsurers share of gross premiums written | -12 615 | -11 287 | -11 670 | -12 213 | -11 887 |
Gross change in the provisions for unearned premiums | -187 | -2 036 | -1 111 | -1 140 | -2 416 |
Reinsurers share, gross change in the provision for outstanding claims | 9 | -91 | 46 | -252 | -339 |
Claims incurred and net change in technical provisions | 47 416 | 44 825 | 45 465 | 49 783 | 55 563 |
Gross claim payment | 53 332 | 53 802 | 54 441 | 58 339 | 63 072 |
Reinsurers share of gross claim payments | -6 944 | -6 532 | -7 424 | -7 720 | -7 471 |
Gross change in the provision for outstanding claims | 1 802 | -3 438 | 258 | -699 | 145 |
Reinsurers share, gross change in the provision for outstanding claims | -2 066 | 676 | -2 045 | -215 | -146 |
Bonuses and rebates | 106 | .. | .. | .. | .. |
Net change in technical provisions | 1 186 | 317 | 235 | 77 | -37 |
Other operating income/ costs | -10 311 | -11 524 | -12 431 | -12 845 | -13 559 |
Commisions received | 212 | 207 | 204 | 188 | 204 |
Operating income from real property | 56 | 43 | 56 | 61 | 61 |
Other operating income | 1 508 | 415 | 436 | 428 | 527 |
Personnel costs | 4 501 | 5 697 | 6 583 | 6 903 | 7 299 |
Commisions submitted | 3 218 | 2 977 | 2 984 | 3 305 | 3 605 |
Operating costs real property | 17 | 14 | 14 | 14 | 11 |
Depreciations of non-financial assets | 393 | 422 | 565 | 455 | 723 |
Other operating costs | 3 958 | 3 080 | 2 981 | 2 845 | 2 715 |
Investment income /costs | 4 719 | 3 854 | 3 566 | 3 335 | 3 934 |
Interest income | 3 470 | 3 381 | 3 232 | 3 018 | 2 999 |
Share dividend etc. | 1 371 | 650 | 519 | 485 | 1 148 |
Interst charges | 122 | 178 | 186 | 167 | 212 |
Gains/losses, value (re-)adjustments on financial assets | 1 960 | 2 571 | 3 996 | -1 440 | 8 608 |
Net realized gains/ losses | 2 330 | 3 300 | 3 525 | 2 273 | 4 034 |
Net change in value | -370 | -729 | 471 | -3 713 | 4 573 |
Profitt/loss on ordinary activities | 15 290 | 16 027 | 16 135 | 8 353 | 17 407 |
Other result components | -355 | -38 | -323 | .. | .. |
Tax | 3 821 | 3 559 | 3 135 | 2 273 | 2 464 |
Total Profitt/loss | 11 115 | 12 430 | 12 677 | 6 080 | 14 942 |
Specifications | |||||
Balance on the technical account for non-life insurance | 7 964 | 9 175 | 8 904 | 6 490 | 4 631 |
Table 8
Life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Total | 651 335 | 703 082 | 785 261 | 773 636 | 915 553 |
Non-financial enterprises | 133 659 | 132 394 | 139 022 | 129 873 | 143 206 |
Central government enterprises | .. | .. | .. | .. | .. |
Other state enterprises | 1 064 | 1 270 | 1 546 | 852 | 491 |
Municipal enterprises | .. | .. | .. | .. | .. |
Private incorporated companies | 131 910 | 130 088 | 137 282 | 128 764 | 142 430 |
Private non-profit institutions | .. | .. | .. | .. | .. |
Financial enterprises | 362 634 | 399 417 | 445 101 | 450 863 | 523 642 |
State lending institutions | .. | .. | .. | .. | .. |
Banks | 18 | 58 | 110 | 92 | 110 |
Mortgage companies | .. | .. | .. | .. | .. |
Finance companies | .. | .. | .. | .. | .. |
Unit trust(UK)/ Mutual funds(US) | 356 033 | 390 906 | 435 660 | 428 964 | 488 045 |
Other financial enterprises) | 845 | 1 395 | 1 322 | 13 568 | 27 854 |
Life insurance companies etc. | 317 | 328 | 537 | 513 | 591 |
Non-life insurance companies | 1 444 | 1 959 | 1 960 | 2 084 | 2 294 |
Financial auxiliaries | 1 851 | 2 139 | 2 652 | 2 914 | 2 324 |
General government | .. | .. | .. | .. | .. |
Central government | .. | .. | .. | .. | .. |
County municipalities | .. | .. | .. | .. | .. |
Municipalities | 0 | 0 | 0 | 0 | 0 |
Household etc. | .. | .. | .. | .. | .. |
Quasi-corporated private enterprises (i.e. partnership companies, joint ownership etc.) | 0 | 0 | 0 | 0 | 0 |
Private non-profit institutions serving households | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | .. | .. | .. | .. | .. |
Households of employees | .. | .. | .. | .. | .. |
Unspecified sector | .. | .. | .. | .. | .. |
Rest of the world | 155 042 | 171 271 | 201 138 | 192 900 | 248 705 |
Table 9
Life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Total | 503 018 | 529 711 | 557 622 | 579 178 | 583 315 |
Non-financial enterprises | 74 736 | 81 673 | 92 168 | 96 833 | 89 396 |
Central government enterprises | .. | .. | .. | .. | .. |
Other state enterprises | 22 160 | 21 944 | 23 753 | 26 377 | 24 172 |
Municipal enterprises | .. | .. | .. | .. | .. |
Private incorporated companies | 30 093 | 34 547 | 43 072 | 45 838 | 44 473 |
Private non-profit institutions | .. | .. | .. | .. | .. |
Financial enterprises | 111 111 | 117 570 | 113 530 | 115 630 | 118 328 |
State lending institutions | .. | .. | .. | .. | .. |
Banks | 52 533 | 49 853 | 46 278 | 43 740 | 44 208 |
Mortgage companies | 57 510 | 66 663 | 66 184 | 71 066 | 72 165 |
Finance companies | .. | .. | .. | .. | .. |
Unit trust(UK)/ Mutual funds(US) | .. | .. | .. | .. | .. |
Other financial enterprises | 5 | .. | .. | .. | .. |
Life insurance companies etc. | 122 | 154 | 179 | 163 | 179 |
Bob-life insurance companies | 78 | 108 | 106 | 87 | 96 |
Financial auxiliaries | 791 | 752 | 733 | 532 | 1 644 |
General government | 46 855 | 49 750 | 46 760 | 38 750 | 39 521 |
Central government | 28 773 | 25 773 | 26 449 | 18 350 | 18 097 |
County municipalities | 18 082 | 23 977 | 20 311 | 20 400 | 21 423 |
Municipalities | 0 | 0 | 0 | 0 | 0 |
Household etc. | .. | .. | .. | .. | .. |
Quasi-corporated private enterprises (i.e. partnership companies, joint ownership etc.) | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | .. | .. | .. | .. | .. |
Households of employees | .. | .. | .. | .. | .. |
Unspecified sector | .. | .. | .. | .. | .. |
Rest of the world | 270 316 | 280 717 | 305 165 | 327 965 | 336 070 |
Table 10
Life insurance companies. Total utilized loans by borrower sector. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Total | 87 210 | 109 460 | 118 544 | 144 969 | 149 988 |
Non-financial enterprises | 17 937 | 26 309 | 31 277 | 43 241 | 44 104 |
Central government enterprises | .. | .. | .. | .. | .. |
Other state enterprises | .. | 60 | 50 | .. | .. |
Municipal enterprises | 288 | 229 | 373 | 473 | 718 |
Private incorporated companies | 10 549 | 18 497 | 22 282 | 40 300 | 41 106 |
Private non-profit institutions | 6 | 5 | 5 | 4 | 1 |
Financial enterprises | 2 346 | 2 899 | 2 923 | 3 463 | 2 649 |
State lending institutions | .. | .. | .. | .. | .. |
Banks | .. | .. | .. | .. | .. |
Mortgage companies | .. | .. | .. | .. | .. |
Finance companies | .. | .. | .. | .. | .. |
Unit trust(UK)/ Mutual funds(US) | .. | .. | .. | .. | .. |
Other financial enterprises | 1 786 | 1 940 | 1 467 | 1 997 | 2 034 |
Life insurance companies etc. | .. | .. | .. | .. | .. |
Non-life insurance companies | .. | .. | .. | .. | .. |
Financial auxiliaries | 560 | 684 | 1 260 | 852 | 615 |
General government | 27 962 | 29 624 | 32 262 | 45 105 | 50 977 |
Central government | .. | .. | .. | 6 642 | 6 674 |
County municipalities | 27 962 | 29 624 | 32 262 | 38 463 | 44 303 |
Municipalities | 0 | 0 | 0 | 0 | 0 |
Household etc. | 28 164 | 40 579 | 42 118 | 42 019 | 39 170 |
Quasi-corporated private enterprises (i.e. partnership companies, joint ownership etc.) | 0 | 0 | 0 | 0 | 0 |
Private non-profit institutions serving households | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | 0 | 0 | 0 | 0 | .. |
Households of employees | 28 020 | 40 448 | 42 015 | 41 911 | 39 069 |
Unspecified sector | 1 | .. | .. | .. | .. |
Rest of the world | 10 414 | 9 656 | 9 536 | 10 727 | 12 597 |
Table 11
Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Total | 49 765 | 49 555 | 51 979 | 52 731 | 55 226 |
Non-financial enterprises | 4 892 | 5 619 | 5 895 | 9 286 | 10 897 |
Central government enterprises | .. | .. | .. | .. | .. |
Other state enterprises | 207 | 209 | 195 | 223 | 145 |
Municipal enterprises | .. | .. | .. | .. | .. |
Private incorporated companies | 4 127 | 4 788 | 5 039 | 8 382 | 10 067 |
Private non-profit institutions | .. | .. | .. | .. | .. |
Financial enterprises | 17 191 | 18 048 | 21 500 | 20 346 | 21 087 |
State lending institutions | .. | .. | .. | .. | .. |
Banks | 1 170 | 947 | 2 662 | 2 746 | 342 |
Mortgage companies | .. | .. | .. | .. | .. |
Finance companies | .. | .. | .. | .. | .. |
Unit trust (UK)/ Mutual funds (US) | 12 079 | 12 746 | 16 561 | 15 554 | 17 618 |
Other financial enterprises | 330 | 419 | 590 | 681 | 716 |
Life insurance companies etc. | .. | .. | 682 | 682 | 682 |
Non-life insurance companies | 89 | 59 | 410 | 76 | 63 |
Financial auxiliaries | 406 | 377 | 385 | 423 | 1 526 |
General government | .. | .. | .. | .. | .. |
Central government | .. | .. | .. | .. | .. |
County municipalities | .. | .. | .. | .. | .. |
Municipalities | 0 | 0 | 0 | 0 | 0 |
Household etc. | .. | .. | .. | .. | .. |
Quasi-corporated private enterprises (i.e. partnership companies, joint ownership etc.) | 0 | 0 | 0 | 0 | 0 |
Private non-profit institutions serving households | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | .. | .. | .. | .. | .. |
Households of employees | .. | .. | .. | .. | .. |
Unspecified sector | .. | .. | .. | .. | .. |
Rest of the world | 27 682 | 25 888 | 24 583 | 23 100 | 23 242 |
Table 12
Non-life insurance companies. Holding og bonds and certificates by issuing sector. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Total | 97 468 | 96 990 | 100 470 | 93 722 | 95 366 |
Non-financial enterprises | 12 330 | 12 736 | 13 828 | 13 833 | 13 333 |
Central government enterprises | .. | .. | .. | .. | .. |
Other state enterprises | 1 418 | 1 479 | 1 423 | 1 461 | 1 465 |
Municipal enterprises | .. | .. | .. | .. | .. |
Private incorporated companies | 5 190 | 5 409 | 7 260 | 7 089 | 7 781 |
Private non-profit institutions | .. | .. | .. | .. | .. |
Financial enterprises | 39 338 | 38 550 | 40 276 | 36 315 | 36 202 |
State lending institutions | .. | .. | .. | .. | .. |
Banks | 19 104 | 16 809 | 15 180 | 13 316 | 14 025 |
Mortgage companies | 20 043 | 21 428 | 24 744 | 22 814 | 21 776 |
Finance companies | .. | .. | .. | .. | .. |
Unit trusts(UK)/ Mutual funds (US) | .. | .. | .. | .. | .. |
Other financial enterprises | 4 | 1 | .. | .. | .. |
Life insurance companies etc. | 24 | 81 | 43 | 6 | 307 |
Non-life insurance companies | 58 | 110 | 154 | 127 | 87 |
Financial auxiliaries | 2 | 31 | 59 | 5 | 2 |
General government | 13 995 | 15 397 | 14 312 | 14 108 | 13 298 |
Central government | 7 136 | 6 886 | 6 086 | 4 802 | 2 728 |
County municipalities | 6 859 | 8 511 | 8 226 | 9 306 | 10 570 |
Municipalities | 0 | 0 | 0 | 0 | 0 |
Household etc. | .. | .. | .. | .. | .. |
Quasi-corporated private enterprises (i.e. partnership companies, joint ownership etc.) | 0 | 0 | 0 | 0 | 0 |
Private non-profit institutions serving households | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | .. | .. | .. | .. | .. |
Households of employees | .. | .. | .. | .. | .. |
Unspecified sector | .. | .. | .. | .. | .. |
Rest of the world | 31 805 | 30 307 | 32 054 | 29 465 | 32 534 |
Table 13
Non-life insurance companies. Total utilized loans by borrower sector. NOK Million
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Total | 2 451 | 2 328 | 2 693 | 3 879 | 3 787 |
Non-financial enterprises | 1 586 | 1 459 | 1 692 | 2 786 | 2 727 |
Central government enterprises | .. | .. | .. | .. | .. |
Other state enterprises | .. | .. | .. | .. | .. |
Municipal enterprises | .. | .. | .. | .. | .. |
Private incorporated companies | 1 586 | 1 459 | 1 692 | 2 786 | 2 727 |
Private non-profit institutions | .. | .. | .. | .. | .. |
Financial enterprises | 485 | 524 | 707 | 790 | 796 |
State lending institutions | .. | .. | .. | .. | .. |
Banks | .. | .. | .. | .. | .. |
Mortgage companies | .. | .. | .. | .. | .. |
Finance companies | .. | .. | .. | .. | .. |
Unit trust(UK)/ Mutual funds(US) | .. | .. | .. | .. | .. |
Other financial enterprises | 412 | 472 | 587 | 631 | 708 |
Life insurance companies etc. | .. | .. | .. | .. | .. |
Non-life insurance companies | 13 | 12 | 12 | 7 | 7 |
Financial auxilliaries | 61 | 40 | 108 | 151 | 81 |
General government | .. | .. | .. | .. | .. |
Central government | .. | .. | .. | .. | .. |
County municipalities | .. | .. | .. | .. | .. |
Municipalities | 0 | 0 | 0 | 0 | 0 |
Household etc. | 380 | 345 | 294 | 303 | 263 |
Quasi-corporated private enterprises (i.e. partnership companies, joint ownership etc.) | 0 | 0 | 0 | 0 | 0 |
Private non-profit institutions serving households | 0 | 0 | 0 | 0 | 0 |
Unincorporated private enterprises | 101 | 79 | 62 | 48 | 9 |
Households of employees | 279 | 266 | 233 | 256 | 254 |
Unspecified sector | .. | .. | .. | .. | .. |
Rest of the world | 0 | .. | 0 | 0 | 0 |
See all figures from this statistics
07505: Life insurance companies. Balance sheet, by financial instrument (quarterly)
07506: Life insurance companies. Profit and loss account (quarterly)
09583: Life and non-life insurance companies. Securities and loans (quarterly)
07507: Non-life insurance companies. Balance sheet, by financial instrument (quarterly)
07508: Non-life insurance companies. Profit and loss account (quarterly)
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.
Definitions
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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.
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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.
Administrative information
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Name: Life and non-life insurance companies, accounts
Topic: Banking and financial markets
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Division for Financial Markets Statistics
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Only at the national level.
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Annual and quarterly.
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Eurostat
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Publication-ready data are stored in a FAME-database
Background
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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.
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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.
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Not relevant
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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.
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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).
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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
Production
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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.
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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).
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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.
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Not relevant
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Not relevant
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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.
Accuracy and reliability
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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.
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Not relevant
Contact
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Kjell Hammer
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Ola Tveita