358508
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
358508
statistikk
2019-02-19T08:00:00.000Z
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
true

Life and non-life insurance companies, accounts

Updated

Next update

Key figures

1 541 171

NOK Mill Assets for life-insurance companies

Key Figures. NOK Million
Total
4th quarter 20174th quarter 2018
Life insurance companies
Assets1 499 6431 541 171
Earned premiums, net of reinsurance103 984112 830
Gross claims payment54 72559 441
Profitt/loss before tax and allocation to customers17 28814 840
Net income from financial assets93 98010 905
Non-life insurance companies
Assets243 356243 533
Earned premiums66 47068 685
Gross claims payments54 44156 844
Profitt/loss on ordinary activities16 1358 677
Balance on the technical account for non-life insurance10 7187 293
Net income from financial assets7 5621 679

See selected tables from this statistics

Table 1 
Life insurance companies. Profitt and loss account. NOK Million

Life insurance companies. Profitt and loss account. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in complementary provisions is discontinued, the remaining items are continued
Earned premiums, net of reinsurance103 98428 78861 01089 545112 830
Gross premiums written93 44823 68353 24178 26999 906
Reinsurers share of gross premiums written-943-249-442-574-914
Transfers of premium reserve from other companies11 4805 3548 21111 85013 838
 
Claims incurred, net of reinsurance65 29819 87137 12754 85172 938
Gross claims payment54 72514 31928 76943 08859 441
Reinsurance share of gross claims payments-466-135-278-376-711
Other appropriations1..........
Transfers of premiumreserve etc. to other companies11 0405 6878 63612 13814 207
 
Net change in technical provisions118 97425835 75866 10535 133
Premium reserve86 7406 48333 23155 81141 050
Other technical provisions26 401-6-255-4563 283
To/from revaluation reserve18 003-11 135-5 273970-14 954
Means allocated insurance contracts7 8304 9178 0549 7805 754
 
Other operating income/ costs-4 235-1 041-2 528-4 380-6 578
Commision received-27125363977
Operating income, real property423723821100
Other operating income1 7684988791 3001 696
Personell costs3 0566791 5452 9423 088
Commision submitted846216448635816
Operating costs, real property10011
Depreciations of non-financial assets28565145270292
Other operating costs1 5859751 6861 8724 253
 
Investment income /costs41 7088 30018 56726 44436 166
Interest income bonds and certificates23 7026 42811 46016 16622 031
Interest income other assets6 0701 2532 4763 8535 772
Share dividend etc.13 4058655 2967 3789 698
Interest costs1 4682476659531 336
 
Gains/losses, value (re-)adjustments on financial assets52 272-13 70190716 440-25 261
Realized gains/losses16 4414 7777 6639 9809 941
Shares, participations and primary capital certificates15 5193 1406 0539 98512 878
Bonds and certificates1 044-590219-1832 182
Financial derivatives122 2181 543-153-6 120
Land and buildings500391362
Other realized gains/losses-1399-152-60639
Net change in value35 831-18 477-6 7566 460-35 202
Shares, participations and primary capital certificates30 052-19 346-8 4991 506-26 563
Bonds and certificates-1 255-2 277-1 752-2 560-1 679
Financial derivatives-404 7612 8524 832-2 955
Land and buildings....000
Other net change in value7 075-1 6166422 682-4 005
 
Profitt/loss on ordinary activities9 4582 2175 0717 0919 086
 
Other result components-13-9-27-28-28
 
Tax9674459371 431-673
 
Total Profitt/loss8 4781 7634 1075 6329 731
 
Specifications
Balance on the technical account for life insurance11 3131 5203 0044 6776 153
Value-adjusted profitt/loss27 460-8 918-2028 062-5 868

Table 2 
Life insurance companies. Balance sheet by financial instrument. NOK Million

Life insurance companies. Balance sheet by financial instrument. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Assets
Intangible assets1 1781 7191 6091 7743 519
 
Tangible fixed assets1 1751 0201 0231 0141 076
Land and buildings1 043895904895962
Machinery, equipment and vehicles132126119120115
 
Capital investments1 339 0971 340 4731 346 7851 371 8661 351 108
Shares, participation and primary capital certificate219 179219 111206 566210 924204 916
Shares in securities' fund566 082564 768582 038597 625568 984
Bonds and certificates549 061549 121549 626554 101569 627
Financial derivatives2 7384 1062 9604 6903 041
Other capital investment2 0373 3665 5964 5264 540
 
Loans127 105125 159143 877147 111154 280
 
Remaining claims4 9446 51114 55619 0276 332
Insurance claims1 8992 76611 56316 4381 522
Reinsurance share of technical provisions9239489379611 510
Other claims2 1232 7972 0561 6273 300
 
Cash and bank deposits26 14430 50224 42723 29324 855
 
Total assets1 499 6431 505 3841 532 2761 564 0841 541 171
 
Liabilities and equity capital
Eqiuty capital100 648102 970103 615106 650106 016
Deposit capital41 10840 67240 68042 11342 198
Company capital7 8477 6197 6197 6127 612
Share premium account18 11417 92017 92017 92017 920
Other deposit capital15 14715 13315 14116 58116 666
Retained earnings59 54062 29862 93564 53763 818
Other equity59 54060 54658 97859 15862 999
Not allocated profit..1 7523 9585 379819
 
Subordinated liabilities26 97127 53725 61325 61328 008
Bonds17 40117 96716 04316 04316 938
Other subordinated loans9 5709 5709 5709 57011 070
 
Technical provisions1 350 4131 350 1531 385 4821 411 3911 378 557
Premium reserve11 209 5361 216 1971 243 0631 265 1161 251 198
Additional provisions51 34351 05151 18351 17354 945
Revaluation reserve63 97052 83558 69764 94049 016
Net provision for outstanding claims2..........
Premium and pension provision23 94924 32223 79419 61022 026
Net other technical provisions1 6151 4351 3401 4061 230
Unallocated surplus funds to insurance contracts..4 3137 4059 146142
 
Provisions for other charges4 0404 3404 8535 4854 323
Provisions for pension916910933912915
Deffered tax3 0153 3243 8144 4793 286
Other provisions for charges10810610695122
 
Remaining liabilites17 57120 38412 71314 94624 266
Expences accrued824877663621879
Deffered income421191711
Payable tax7856701031 031
Dividend1165......
Insurance liabilities3 5013 5962 5154 0334 132
Other liabilities7 52513 5437 1469 1388 065
Financial derivatives5 6292 2262 3001 03310 147
 
Total libilities1 499 6431 505 3841 532 2761 564 0841 541 171
 
Specifications
Number of companies1918181818
Loan with morgage on dwelling48 77949 27350 11750 20549 636
Net tehcnical provisions where the risk is borne by the policyholder297 070305 598319 963334 692315 661

Table 3 
Life insurance companies. Investments in shares, participations and primary capital certificates by sector. NOK Million

Life insurance companies. Investments in shares, participations and primary capital certificates by sector. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
 
Sum all sectors785 261783 879788 603808 549773 899
 
Non-financial corporations139 022139 611125 091126 234141 442
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 5461 635957951852
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government195194220557580
Private non-financial incorporated enterprises137 282137 782123 914124 726140 009
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations445 101443 542453 975465 163439 471
Norges Bank..........
Banks11010511811896
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies2 8592 8112 8402 8892 731
Mutual funds435 660433 879444 311455 416428 826
Investment trusts and private equity funds1 3221 4961 5211 5272 362
Other financial enterprises, except insurance companies and pension funds2 6522 6952 5952 5742 914
Life insurance companies and pension funds537537535519522
Non-life insurance companies1 9602 0182 0562 1202 020
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
Unincorporated enterprises within households..........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc...........
Unspecified sector..........
 
Rest of the world201 138200 727209 537217 151192 987

Table 4 
Life insurance companies. Holding of bonds and certificates by issuing sector. NOK Million

Life insurance companies. Holding of bonds and certificates by issuing sector. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
Sum all sectors549 061549 121549 626554 101569 627
 
Non-financial corporations83 60784 01087 35184 19687 282
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government23 75323 60124 60824 66626 377
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government25 34325 31525 54925 24724 618
Private non-financial incorporated enterprises34 51135 09437 19434 28336 288
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations113 530114 436111 741113 999115 630
Norges Bank..........
Banks46 27845 79343 59043 13943 740
Mortgage companies66 18467 83767 34070 05571 066
Finance companies..........
State lending institutions etc...........
Financial holding companies5042424242
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds733507513507532
Life insurance companies and pension funds179176166168163
Non-life insurance companies10682898887
 
General government46 76046 85844 04340 20538 750
Central government26 44925 95224 57221 98518 350
Local government20 31120 90619 47118 22020 400
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world305 165303 817306 490315 701327 965

Table 5 
Life insurance companies. Total utilized loans by borrower sector. NOK Million

Life insurance companies. Total utilized loans by borrower sector. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
Sum all sectors127 105125 159143 877147 111154 280
 
Non-financial corporations39 83840 58540 90132 03951 836
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government504646....
Public unincorporated enterprises, owned by local government373449471447473
Public incorporated enterprises, owned by local government8 5677 2127 0322 4942 464
Private non-financial incorporated enterprises30 84332 87333 34829 09448 895
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises55544
 
Financial corporations2 9232 05017 81318 4733 463
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies19519615 76616 362614
Mutual funds..........
Investment trusts and private equity funds1 4671 4481 6051 6191 997
Other financial enterprises, except insurance companies and pension funds1 260406443492852
Life insurance companies and pension funds..........
Non-life insurance companies..........
 
General government32 26232 78434 67943 04945 105
Central government......6 2046 642
Local government32 26232 78434 67936 84538 463
 
Non-profit institutions serving households428444435425413
 
Households42 11841 71442 56242 60442 019
Unincorporated enterprises within households00000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.103114112111108
Employees, recipients of property income, pensions and social contributions, students etc.42 01541 60042 45142 49341 911
Unspecified sector..........
 
Rest of the world9 5367 5847 48610 52111 443

Table 6 
Non-life insurance company. Profitt and loss account. NOK Million

Non-life insurance company. Profitt and loss account. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in the equalization provision are discontinued. Changes in the provisions for unexpired risk is continued.
Earned premiums, net of reinsurance66 47016 06933 51451 00868 685
Gross premiums written79 20530 26548 53764 52681 719
Reinsurers share of gross premiums writtens-11 670-4 590-7 072-9 376-11 488
Gross change in the provision for unearned premiums-1 111-11 377-8 223-4 574-1 039
Reinsurance share461 771272432-507
 
Claims incurred and net change in technical provisions45 46511 95224 28636 93248 193
Gross claims payment54 44113 63528 18341 37756 844
Reinsurers share of gross claims payments-7 424-1 848-3 775-5 328-7 172
Gross change in the provision for outstanding claims258-233-1 121489-1 984
Reinsurers share, gross change in the provision for outstanding claims-2 045369958360457
Bonus and rebates1..........
Net change in technical provision223529413448
 
Other operating income/ costs-12 431-3 124-6 484-9 930-13 494
Commision received2045199140188
Operating income, real property569182759
Other operating income43687203312433
Personell costs6 5831 7913 5695 6627 584
Commision submitted2 9847451 5512 3553 207
Operating costs, real property14581113
Depreciations of non-financial assets56591206329435
Other operating costs2 9816381 4692 0532 936
 
Investment income /costs3 5661 0811 7892 5973 109
Interest income3 2327011 4202 1563 060
Share dividend etc.519423446564216
Interest costs1864477123167
 
Gains/losses, value (re-)adjustments on financial assets3 996-1 060-114649-1 430
Net realized gains/losses3 5258701 8802 1662 273
Net change in value471-1 930-1 995-1 517-3 702
 
Profitt/loss on ordinary activities16 1351 0154 4207 3928 677
 
Other result components-323-4-46-57-178
 
Tax3 1355381 1101 7472 591
 
Total Profitt/loss12 6774723 2635 5885 909
 
Specifications
Balance on the technical account for non-life insurance10 7181 0682 8854 4317 293

Table 7 
Non-life insurance companies. Balance sheet by financial instrument. NOK Million

Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
11st quarter of 2016: The Equalization provision discontinued. The provision for unexpired risk is continued.
21st quarter of 2016: Closed series
Assets
Intangible assets5 5345 9576 0285 9466 098
 
Tangible fixed assets1 1521 4151 4271 4361 431
Land and buildings641642673718744
Machinery, equipment and vehicles510773753718687
 
Capital investments153 154150 943148 632151 383147 200
Shares, participation and primary capital certificates18 46518 27422 36121 78521 325
Shares in securities' fund33 51432 62630 40833 28030 118
Bonds and certificates100 41998 28995 13795 29194 945
Financial derivatives506469383516314
Other capital investments2491 285343511498
 
Loans2 7432 9833 1053 1433 871
 
Reinsurance share of technical provisions19 76521 71420 74819 93019 392
 
Remaining claims52 46759 74859 31555 38855 623
Insurance claims20 98727 36026 89324 23424 040
Other claims31 48032 38732 42231 15431 583
 
Cash and bank deposits8 54211 95510 2638 8909 918
 
Total assets243 356254 716249 518246 114243 533
 
Liabilities and equity capital
Eqiuty capital78 29878 11779 42880 74177 320
Deposit capital14 90214 57414 59414 65114 515
Company capital4 9844 8344 8474 8424 861
Share premium account4 1674 1604 1604 1603 937
Other deposit capital5 7515 5815 5875 6495 717
Retained earnings63 39663 54364 83566 09062 804
Other equity63 39660 69559 49558 79754 795
Not allocated profit..2 8485 3407 2938 009
 
Subordinated liabilities3 0693 0643 1243 1253 201
Bonds2 6902 6912 6912 6912 767
Other subordinated loans378373433435434
 
Technical provisions124 327135 508133 185129 360124 969
Gross provision for unearned premium28 75439 07137 61833 71830 824
Gross Provision for outstanding claims89 30190 17689 29789 86188 330
Gross provision for bonuses and rebates2..........
Equalization provision16 2726 2606 2705 7805 815
Other technical provision2..........
 
Provisions for other charges10 50910 45810 46710 56010 479
Provisions for pension1 6251 4901 5031 5961 643
Deffered tax7 9357 9217 9217 8727 587
Other provisions for charges9491 0461 0431 0911 250
 
Remaning liabilites27 15327 56923 31322 32927 564
Expences accrued1 7981 4291 2711 4311 583
Deffered income258100133122273
Payable tax2 2971 5109721 5022 488
Dividend5 1964 442....3 996
Insurance liabilities4 5155 7895 9654 9274 119
Other liabilities12 42613 98614 61114 14014 392
Financial derivatives663312360207713
 
Total libilities243 356254 716249 518246 114243 533
 
Specifications
Number of companies8584838383
Loan with morgage on dwelling232230237229249

Table 8 
Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million

Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
Sum all sectors51 97950 90052 76955 06551 443
 
Non-financial corporations5 8955 9139 9429 6369 401
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government195196194191223
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government83333
Private non-financial incorporated enterprises5 0395 0589 0788 7728 498
Private non-financial unincorporated enterprises653656668670677
Private non-profit institutions serving enterprises..........
 
Financial corporations21 50021 77520 97221 81420 304
Norges Bank..........
Banks2 6622 6482 6712 6692 790
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies210200206237179
Mutual funds16 56117 12616 27117 19815 632
Investment trusts and private equity funds590627658667683
Other financial enterprises, except insurance companies and pension funds385421413288280
Life insurance companies and pension funds682682682682682
Non-life insurance companies41071707359
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world24 58323 21121 85523 61521 739

Table 9 
Non-life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million

Non-life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
Sum all sectors100 41998 28995 13795 29194 945
 
Non-financial corporations13 82813 42613 70713 86913 833
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 4231 5331 5961 5061 461
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government5 1455 0435 3435 3035 284
Private non-financial incorporated enterprises7 2606 8506 7687 0607 089
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations40 22538 96736 15937 32936 116
Norges Bank..........
Banks15 14713 79213 02113 85813 393
Mortgage companies24 74424 86122 87023 20422 538
Finance companies..........
State lending institutions etc...........
Financial holding companies9685737346
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds595845445
Life insurance companies and pension funds434120206
Non-life insurance companies137131130129127
 
General government14 31214 52614 88414 88814 115
Central government6 0865 1535 7855 1104 809
Local government8 2269 3739 1009 7789 306
 
Non-profit institutions serving households..........
 
Households..........
Unincorporated enterprises within households..........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc...........
Unspecified sector..........
 
Rest of the world32 05431 37030 38629 20630 881

Table 10 
Non-life insurance companies. Total utilized loans by borrower sector. NOK Million

Non-life insurance companies. Total utilized loans by borrower sector. NOK Million
4th quarter 20171st quarter 20182nd quarter 20183rd quarter 20184th quarter 2018
Sum all sectors2 7432 9833 1053 1433 871
 
Non-financial corporations1 6921 9972 0992 2062 866
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government..........
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government..........
Private non-financial incorporated enterprises1 6921 9972 0992 2062 866
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations757698713655720
Norges Bank..........
Banks330000
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies..........
Mutual funds..........
Investment trusts and private equity funds587590593598630
Other financial enterprises, except insurance companies and pension funds1081011135083
Life insurance companies and pension funds..........
Non-life insurance companies297777
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households294288293282285
Unincorporated enterprises within households6258555148
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc.233230238231238
Unspecified sector..........
 
Rest of the world00000

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

Definitions of the main concepts and variables

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.

Standard classifications

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

Name and topic

Name: Life and non-life insurance companies, accounts
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

Only at the national level.

Frequency and timeliness

Annual and quarterly.

International reporting

Eurostat

Microdata

Publication-ready data are stored in a FAME-database

Background

Background and purpose

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.

.

Users and applications

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.

Equal treatment of users

Not relevant

Coherence with other statistics

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.

Legal authority

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).

EEA reference

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

Population

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.

Data sources and sampling

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).

Collection of data, editing and estimations

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.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

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

Sources of error and uncertainty

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.

Revision

Not relevant