53430_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
53430
Strong results for insurance
statistikk
2011-08-31T10:00:00.000Z
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, Q2 2011

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Strong results for insurance

Both non-life and life insurance companies had increased profits during the first half of 2011 compared to the same period last year. This is manly due to an increase in the financial income.

Life insurance companies achieved a value-adjusted profit of NOK 7.4 billion in the first half of 2011; an increase of NOK 5.9 billion compared with the corresponding period in 2010. In the same period, the net income from financial assets increased by 46 per cent, equivalent to NOK 4.3 billion. This was mainly due to the growth in the financial income of 17 per cent. Profit resulted in NOK 3.1 billion; an improvement of NOK 2.1 billion from last year. The earned premiums and claims incurred increased by 4 and 16 per cent respectively in one year.

Life insurance. Profit and loss account. NOK million
 
  1st-2nd quarter 2011 1st-2nd quarter 2010
 
Earned premiums, exclusive of transfers to other companies 42 770 41 288
Claims incurred 28 923 25 670
Profit/loss before tax and allocation to customers 12 052 3 692
     
Net income from financial assets 16 911 11 574
Value-adjusted profit/loss 1 456 7 390
 

Increase in securities' fund

Life insurance companies’ total assets increased by 7 per cent compared to the first half of 2010. The holdings of shares, primary capital certificates as a percentage share of total assets, increased by 10 per cent in the same period, mainly due to the increase in the securities' fund. Bonds and certificates made up 43 per cent of total assets; a decrease of 5 per cent from the previous year.

Life insurance. Balance sheet. NOK million
 
  2nd quarter 2011 2nd quarter 2010
 
Total assets  895 933  833 819
Investments in subsidiaries and other shares, participation and primary capital certificates  411 953  296 494
Holdings of bonds and certificates  383 305  403 831
 

Growth in financial income

Non-life insurance companies’ financial income increased by 49 per cent compared with the first half of 2010. Net income from financial assets had a growth of 4 per cent in the same period. The profit of the technical account resulted in NOK 2.3 billion; an increase of NOK 876 million in one year. The earned premiums and claims incurred increased by 6 and 2 per cent respectively in one year.

Non-life insurance. Profit and loss account. NOK million
 
  1st-2nd quarter 2011 1st-2nd quarter 2010
 
Earned premiums 26 108 24 519
Claims incurred 19 202 18 870
Profit/loss of ordinary activities 3 895 2 969
     
Net income from financial assets 2 993 2 872
Profit/loss of the technical account 2 279 1 403
 

Total assets in non-life insurance companies remained stable compared to the second quarter of 2010. Investments in subsidiaries and other shares, participation and primary capital certificates increased by 4 per cent, mainly due to an increase in the securities’ fund. As a per cent of total assets, investments in subsidiaries and other shares, participation and primary capital certificates remained stable from the second quarter of 2010 to the same quarter in 2011.

Non-insurance. Balance sheet. NOK million
 
  2nd quarter 2011 2nd quarter 2010
 
Total assets  190 947  191 497
Investments in subsidiaries and other shares, participation and primary capital certificates 42 490 40 857
Holdings of bonds and certificates 75 011 73 407
 

Tables