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84346
Increase in net income from financial assets for insurance
statistikk
2012-07-04T10:00:00.000Z
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, Q1 2012

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Increase in net income from financial assets for insurance

Both non-life and life insurance companies had a significantly higher net income from financial assets in the 1st quarter of 2012 compared to the same period last year. This is mainly due to an increase in the net value for shares, participations and primary capital certificates.

Life insurance companies achieved a value-adjusted profit of NOK 11.5 billion in the 1st quarter of 2012; an increase of NOK 6.5 billion compared with the corresponding period in 2011. The main reason for this is the net increase in value for financial assets. The financial income amounted to NOK 7.9 billion, a decline of 11 per cent in one year. Profit totalled NOK 1.3 billion; a decrease of 23 per cent compared to the corresponding period in 2011.

Life insurance. Profit and loss account. NOK million
 
 1st quarter 20121st quarter 2011
 
Earned premiums, exclusive of transfers to other companies28 39827 117
Claims incurred15 34416 542
Profit/loss before tax and allocation to customers3 3076 218
   
Net income from financial assets22 46010 326
Value-adjusted profit/loss11 5395 037
 

Increase in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 7 per cent compared to the corresponding quarter last year. The holding of shares and primary capital certificates as a percentage share of total assets was 42 per cent, a decline of 3 percentage points from the previous year. Bonds and certificates made up 47 per cent of total assets; an increase of 4 per cent from last year.

Life insurance. Balance sheet. NOK million
 
 1st quarter 20121st quarter 2011
 
Total assets 952 963 894 686
Investments in subsidiaries and other shares, participation and primary capital certificates 401 190 403 856
Holdings of bonds and certificates 448 293 382 738
 

Growth in earned premiums for non-life insurance

Non-life insurance companies’ financial income decreased by 9 per cent compared with the corresponding quarter last year. The main reason was that interest earnings decreased by 10 per cent. The profit of ordinary activities amounted to NOK 3.4 billion. The profit of the technical account increased by NOK 513 million. The earned premiums increased by 6 per cent in one year.

Non-life insurance. Profit and loss account. NOK million
 
 1st quarter 20121st quarter 2011
 
Earned premiums13 68612 955
Claims incurred10 39510 375
Profit/loss of ordinary activities3 3941 054
   
Net income from financial assets2 8471 225
Profit/loss of the technical account1 040 519
 

Decrease in shares and primary capital certificates for non-life insurance companies

Investments in subsidiaries and other shares, participation and primary capital certificates decreased by 26 per cent compared to last year. As a percentage of total assets, investments in subsidiaries and other shares, participation and primary capital certificates decreased by 4 percentage points compared to the same period last year. Bonds and certificates as a share of total assets amounted to 41 per cent of total assets, an increase of 2 percentage points.

Non-insurance. Balance sheet. NOK million
 
 1st quarter 20121st quarter 2011
 
Total assets 199 199 192 909
Investments in subsidiaries and other shares, participation and primary capital certificates40 75045 996
Holdings of bonds and certificates82 18275 113
 

 

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