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/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4717
Improved results for insurance
statistikk
2009-12-14T10:00:00.000Z
Banking and financial markets
en
forsikring, Life and non-life insurance companies, accounts, profit and loss account, shares, bonds, commercial papers, primary capital certificates, financial instruments, liabilities, equity, lending, borrowers, issuersFinancial institutions and other financial corporations, Banking and financial markets
false

Life and non-life insurance companies, accounts, Q3 2009

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Improved results for insurance

Both non-life and life insurance companies have achieved better results in the first three quarters of 2009 compared to last year. This is mainly due to the increase in the income from financial assets.

Life insurance companies achieved a value-adjusted profit of NOK 15.1 billion, an increase of NOK 48.9 billion compared with the three first quarters of 2008. This was mainly due to the improvement in the net income from financial assets of NOK 62.5 billion. Life insurance has a profit before tax and allocation to customers of NOK 12.5 billion. While the earned premium for life insurance companies decreased by 4 per cent, the claims incurred were 31 per cent lower from the three first quarters of 2008 to the corresponding period in 2009.

Life insurance. Profit and loss account. NOK million
 
  1st-3rd quarter 2009 1st-3rd quarter 2008
 
Earned premiums, exclusive of transfers to other companies 61 343 63 799
Claims incurred 35 008 50 442
Profit/loss before tax and allocation to customers 12 546 -14 892
     
Net income from financial assets 35 111 -27 407
Value-adjusted profit/loss 15 097 -33 818
 

Investments in subsidiaries and other shares, participation and primary capital certificates made up 33 per cent of total assets; a decrease of 3 per cent compared to the corresponding quarter last year. Bonds and certificates made up 52 per cent of total assets, an increase from 47 per cent compared with the third quarter of 2008. Total assets increased by NOK 42.1 billion.

Life insurance. Balance sheet. NOK million
 
  3rd quarter 2009 3rd quarter 2008
 
Total assets  776 418  734 290
Investments in subsidiaries and other shares, participation and primary capital certificates  253 233  264 593
Holdings of bonds and certificates  404 594  346 994
 

The non-life insurance industry achieved a profit of ordinary activities of NOK 8 billion in the third quarter of 2009. This is an increase of NOK 6.6 billion compared with the corresponding quarter of 2008. One of the main sources is the NOK 7.1 billion increase in the net income from financial assets the last year. The profit of the technical account decreased by 41 per cent.

Non-life insurance. Profit and loss account.NOK million
 
  1st-3rd quarter 2009 1st-3rd quarter 2008
 
Earned premiums 35 652 35 776
Claims incurred 26 151 24 712
Profit/loss of ordinary activities 8 004 1 754
     
Net income from financial assets 6 806 -245
Profit/loss of the technical account 3 340 5 705
 

Investments in subsidiaries and other shares, participation and primary capital certificates made up 20 per cent of the total assets. Bonds and certificates increased by 16 per cent. Bonds and certificates made up 16 per cent of total assets in the third quarter of 2009, an increase of 5 per cent compared to last year. Total assets in the non-life insurance industry improved NOK 6.7 billion when comparing the third quarter 2009 with the corresponding quarter in 2008.

Non-insurance. Balance sheet. NOK million
 
  3rd quarter 2009 3rd quarter 2008
 
Total assets  179 152  172 428
Investments in subsidiaries and other shares, participation and primary capital certificates 35 432 35 930
Holdings of bonds and certificates 70 805 61 149
 

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