339954
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
339954
statistikk
2018-11-16T08:00:00.000Z
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

1 564 084

NOK mill. assets for life-insurance companies

Key Figures. NOK Million
Total
3rd quarter 20173rd quarter 2018
Life insurance companies
Assets1 467 8421 564 084
Earned premiums, net of reinsurance79 23389 545
Gross claims payment40 93843 088
Profitt/loss before tax and allocation to customers21 71116 871
Value-adjusted profitt/loss30 49317 708
Net income from financial assets65 29242 884
Non-life insurance companies
Assets243 715246 114
Earned premiums49 08351 008
Gross claims payments40 15241 377
Profitt/loss on ordinary activities12 3627 392
Balance on the technical account for non-life insurance6 9704 431
Net income from financial assets5 6933 246

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
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd 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 reinsurance79 233103 98428 78861 01089 545
Gross premiums written70 12093 44823 68353 24178 269
Reinsurers share of gross premiums written-622-943-249-442-574
Transfers of premium reserve from other companies9 73511 4805 3548 21111 850
 
Claims incurred, net of reinsurance49 78965 29819 87137 12754 851
Gross claims payment40 93854 72514 31928 76943 088
Reinsurance share of gross claims payments-397-466-135-278-376
Other appropriations1..........
Transfers of premiumreserve etc. to other companies9 24811 0405 6878 63612 138
 
Net change in technical provisions83 612118 97425835 75866 105
Premium reserve59 81686 7406 48333 23155 811
Other technical provisions2-2016 401-6-255-456
To/from revaluation reserve8 90218 003-11 135-5 273970
Means allocated insurance contracts15 0957 8304 9178 0549 780
 
Other operating income/ costs-4 508-4 235-1 041-2 528-4 380
Commision received82-271253639
Operating income, real property31423723821
Other operating income1 0341 7684988791 300
Personell costs2 1523 0566791 5452 942
Commision submitted592846216448635
Operating costs, real property11001
Depreciations of non-financial assets21028565145270
Other operating costs2 7011 5859751 6861 872
 
Investment income /costs27 25641 7088 30018 56726 444
Interest income bonds and certificates15 79323 7026 42811 46016 166
Interest income other assets4 5286 0701 2532 4763 853
Share dividend etc.7 99813 4058655 2967 378
Interest costs1 0621 468247665953
 
Gains/losses, value (re-)adjustments on financial assets38 03652 272-13 70190716 440
Realized gains/losses11 56316 4414 7777 6639 980
Shares, participations and primary capital certificates9 10515 5193 1406 0539 985
Bonds and certificates-2461 044-590219-183
Financial derivatives3 054122 2181 543-153
Land and buildings5500391
Other realized gains/losses-356-1399-152-60
Net change in value26 47335 831-18 477-6 7566 460
Shares, participations and primary capital certificates19 67430 052-19 346-8 4991 506
Bonds and certificates-1 179-1 255-2 277-1 752-2 560
Financial derivatives4 069-404 7612 8524 832
Land and buildings......00
Other net change in value3 9087 075-1 6166422 682
 
Profitt/loss on ordinary activities6 6169 4582 2175 0717 091
 
Other result components-97-13-9-27-28
 
Tax8349674459371 431
 
Total Profitt/loss5 6868 4781 7634 1075 632
 
Specifications
Balance on the technical account for life insurance4 59911 3131 5203 0044 677
Value-adjusted profitt/loss30 49342 203-4 0277 74117 708

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

Life insurance companies. Balance sheet by financial instrument. NOK Million
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Assets
Intangible assets1 0271 1781 7191 6091 774
 
Tangible fixed assets1 1681 1751 0201 0231 014
Land and buildings1 0291 043895904895
Machinery, equipment and vehicles139132126119120
 
Capital investments1 307 2441 339 0971 340 4731 346 7851 371 866
Shares, participation and primary capital certificate213 398219 179219 111206 566210 924
Shares in securities' fund554 276566 082564 768582 038597 625
Bonds and certificates530 880549 061549 121549 626554 101
Financial derivatives3 9512 7384 1062 9604 690
Other capital investment4 7402 0373 3665 5964 526
 
Loans120 045127 105125 159143 877147 111
 
Remaining claims13 5954 9446 51114 55619 027
Insurance claims10 8521 8992 76611 56316 438
Reinsurance share of technical provisions956923948937961
Other claims1 7872 1232 7972 0561 627
 
Cash and bank deposits24 76326 14430 50224 42723 293
 
Total assets1 467 8421 499 6431 505 3841 532 2761 564 084
 
Liabilities and equity capital
Eqiuty capital100 015100 648102 970103 615106 650
Deposit capital40 90541 10840 67240 68042 113
Company capital7 8477 8477 6197 6197 612
Share premium account18 12118 11417 92017 92017 920
Other deposit capital14 93615 14715 13315 14116 581
Retained earnings59 11059 54062 29862 93564 537
Other equity53 95759 54060 54658 97859 158
Not allocated profit5 152..1 7523 9585 379
 
Subordinated liabilities26 11926 97127 53725 61325 613
Bonds16 54917 40117 96716 04316 043
Other subordinated loans9 5709 5709 5709 5709 570
 
Technical provisions1 317 5421 350 4131 350 1531 385 4821 411 391
Premium reserve11 183 9171 209 5361 216 1971 243 0631 265 116
Additional provisions44 08751 34351 05151 18351 173
Revaluation reserve54 86963 97052 83558 69764 940
Net provision for outstanding claims2..........
Premium and pension provision20 88223 94924 32223 79419 610
Net other technical provisions1 3441 6151 4351 3401 406
Unallocated surplus funds to insurance contracts12 444..4 3137 4059 146
 
Provisions for other charges5 5494 0404 3404 8535 485
Provisions for pension1 002916910933912
Deffered tax2 6323 0153 3243 8144 479
Other provisions for charges1 91510810610695
 
Remaining liabilites18 61617 57120 38412 71314 946
Expences accrued667824877663621
Deffered income264211917
Payable tax68785670103
Dividend..1165....
Insurance liabilities5 1123 5013 5962 5154 033
Other liabilities10 0057 52513 5437 1469 138
Financial derivatives2 7395 6292 2262 3001 033
 
Total libilities1 467 8421 499 6431 505 3841 532 2761 564 084
 
Specifications
Number of companies1919181818
Loan with morgage on dwelling46 78948 77949 27350 11750 205
Net tehcnical provisions where the risk is borne by the policyholder278 986297 070305 598319 963334 692

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
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
 
Sum all sectors767 673785 261783 879788 603808 549
 
Non-financial corporations137 282139 022139 611125 091126 234
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 4261 5461 635957951
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government1 164195194220557
Private non-financial incorporated enterprises134 691137 282137 782123 914124 726
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations438 284445 101443 542453 975465 163
Norges Bank..........
Banks92110105118118
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies2 8642 8592 8112 8402 889
Mutual funds428 917435 660433 879444 311455 416
Investment trusts and private equity funds1 4011 3221 4961 5211 527
Other financial enterprises, except insurance companies and pension funds2 3392 6522 6952 5952 574
Life insurance companies and pension funds542537537535519
Non-life insurance companies2 1301 9602 0182 0562 120
 
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 world192 108201 138200 727209 537217 151

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
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Sum all sectors530 880549 061549 121549 626554 101
 
Non-financial corporations80 20383 60784 01087 35184 196
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government23 74123 75323 60124 60824 666
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government25 55625 34325 31525 54925 247
Private non-financial incorporated enterprises30 90734 51135 09437 19434 283
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations114 499113 530114 436111 741113 999
Norges Bank..........
Banks45 60246 27845 79343 59043 139
Mortgage companies67 81566 18467 83767 34070 055
Finance companies..........
State lending institutions etc...........
Financial holding companies5150424242
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds733733507513507
Life insurance companies and pension funds166179176166168
Non-life insurance companies133106828988
 
General government45 27046 76046 85844 04340 205
Central government23 95726 44925 95224 57221 985
Local government21 31220 31120 90619 47118 220
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world290 908305 165303 817306 490315 701

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

Life insurance companies. Total utilized loans by borrower sector. NOK Million
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Sum all sectors120 045127 105125 159143 877147 111
 
Non-financial corporations37 65739 83840 58540 90132 039
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government50504646..
Public unincorporated enterprises, owned by local government319373449471447
Public incorporated enterprises, owned by local government8 3798 5677 2127 0322 494
Private non-financial incorporated enterprises28 77030 84332 87333 34829 094
Private non-financial unincorporated enterprises134........
Private non-profit institutions serving enterprises55554
 
Financial corporations2 6672 9232 05017 81318 473
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies18819519615 76616 362
Mutual funds..........
Investment trusts and private equity funds1 9651 4671 4481 6051 619
Other financial enterprises, except insurance companies and pension funds5141 260406443492
Life insurance companies and pension funds..........
Non-life insurance companies..........
 
General government30 25432 26232 78434 67943 049
Central government........6 204
Local government30 25432 26232 78434 67936 845
 
Non-profit institutions serving households404428444435425
 
Households41 00742 11841 71442 56242 604
Unincorporated enterprises within households00000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.104103114112111
Employees, recipients of property income, pensions and social contributions, students etc.40 90342 01541 60042 45142 493
Unspecified sector..........
 
Rest of the world8 0559 5367 5847 48610 521

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

Non-life insurance company. Profitt and loss account. NOK Million
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd 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 reinsurance49 08366 47016 06933 51451 008
Gross premiums written60 42979 20530 26448 53764 526
Reinsurers share of gross premiums writtens-9 249-11 670-4 591-7 072-9 376
Gross change in the provision for unearned premiums-3 503-1 111-11 376-8 223-4 574
Reinsurance share1 406461 772272432
 
Claims incurred and net change in technical provisions33 23245 46511 95224 28636 932
Gross claims payment40 15254 44113 63528 18341 377
Reinsurers share of gross claims payments-5 759-7 424-1 848-3 775-5 328
Gross change in the provision for outstanding claims-764258-233-1 121489
Reinsurers share, gross change in the provision for outstanding claims-353-2 045369958360
Bonus and rebates1..........
Net change in technical provision2-44235294134
 
Other operating income/ costs-9 182-12 431-3 124-6 484-9 930
Commision received1462045099140
Operating income, real property205691827
Other operating income32043687203312
Personell costs5 3326 5831 7913 5695 662
Commision submitted1 9682 9847451 5512 355
Operating costs, real property8145811
Depreciations of non-financial assets21656591206329
Other operating costs2 1442 9816381 4692 053
 
Investment income /costs2 8583 5661 0811 7892 597
Interest income2 5393 2327011 4202 156
Share dividend etc.453519423446564
Interest costs1341864477123
 
Gains/losses, value (re-)adjustments on financial assets2 8353 996-1 061-114649
Net realized gains/losses2 9373 5258731 8802 166
Net change in value-102471-1 934-1 995-1 517
 
Profitt/loss on ordinary activities12 36216 1351 0134 4207 392
 
Other result components-82-323-4-46-57
 
Tax2 4273 1355381 1101 747
 
Total Profitt/loss9 85412 6774703 2635 588
 
Specifications
Balance on the technical account for non-life insurance6 97010 7181 0672 8854 431

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

Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd 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 8075 5345 9576 0285 946
 
Tangible fixed assets1 1511 1521 4171 4271 436
Land and buildings606641644673718
Machinery, equipment and vehicles545510773753718
 
Capital investments150 580153 154150 910148 592151 338
Shares, participation and primary capital certificates18 03018 46518 25622 36121 785
Shares in securities' fund34 04133 51432 67930 40833 280
Bonds and certificates97 471100 41998 22095 09795 246
Financial derivatives730506469383516
Other capital investments3072491 285343511
 
Loans2 7732 7433 0303 1453 188
 
Reinsurance share of technical provisions18 97919 76521 71420 74819 930
 
Remaining claims55 05352 46759 74759 31555 388
Insurance claims20 27520 98727 36026 89324 234
Other claims34 77931 48032 38732 42231 154
 
Cash and bank deposits9 3728 54211 96210 2638 890
 
Total assets243 715243 356254 737249 518246 114
 
Liabilities and equity capital
Eqiuty capital82 95278 29878 13779 42880 741
Deposit capital14 36014 90214 57414 59414 651
Company capital4 9324 9844 8344 8474 842
Share premium account3 7374 1674 1604 1604 160
Other deposit capital5 6915 7515 5815 5875 649
Retained earnings68 59263 39663 56364 83566 090
Other equity57 86363 39660 71759 49558 797
Not allocated profit10 729..2 8465 3407 293
 
Subordinated liabilities3 0683 0693 0643 1243 125
Bonds2 6902 6902 6912 6912 691
Other subordinated loans378378373433435
 
Technical provisions127 986124 327135 507133 185129 360
Gross provision for unearned premium31 88728 75439 07037 61833 718
Gross Provision for outstanding claims89 30189 30190 17689 29789 861
Gross provision for bonuses and rebates2..........
Equalization provision16 7996 2726 2606 2705 780
Other technical provision2..........
 
Provisions for other charges10 43910 50910 45810 46710 560
Provisions for pension1 6081 6251 4891 5031 596
Deffered tax7 7227 9357 9227 9217 872
Other provisions for charges1 1099491 0461 0431 091
 
Remaning liabilites19 27027 15327 57123 31322 329
Expences accrued1 1721 7981 4291 2711 431
Deffered income83258100133122
Payable tax2 4442 2971 5119721 502
Dividend..5 1964 442....
Insurance liabilities4 9264 5155 7895 9654 927
Other liabilities10 11712 42613 98814 61114 140
Financial derivatives528663312360207
 
Total libilities243 715243 356254 737249 518246 114
 
Specifications
Number of companies8585838381
Loan with morgage on dwelling238232227237229

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
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Sum all sectors52 07251 97950 93552 76955 065
 
Non-financial corporations5 6365 8955 9069 9429 634
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government202195196194191
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government38333
Private non-financial incorporated enterprises4 8055 0395 0529 0788 771
Private non-financial unincorporated enterprises625653656668670
Private non-profit institutions serving enterprises..........
 
Financial corporations21 07621 50021 82220 97221 805
Norges Bank..........
Banks2 6402 6622 6452 6712 662
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies442210198206237
Mutual funds16 42516 56117 18016 27117 198
Investment trusts and private equity funds428590627658667
Other financial enterprises, except insurance companies and pension funds394385421413288
Life insurance companies and pension funds682682682682682
Non-life insurance companies65410697072
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world25 36024 58323 20721 85523 625

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
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Sum all sectors97 471100 41998 22095 09795 246
 
Non-financial corporations12 82913 82813 41913 70713 869
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 4801 4231 5331 5961 506
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government4 9945 1455 0435 3435 303
Private non-financial incorporated enterprises6 3557 2606 8436 7687 060
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations39 05740 22538 90736 11937 284
Norges Bank..........
Banks15 37115 14713 74912 99613 828
Mortgage companies23 43124 74424 86122 87023 204
Finance companies..........
State lending institutions etc...........
Financial holding companies7996857373
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds2259584544
Life insurance companies and pension funds4643402020
Non-life insurance companies108137115115114
 
General government14 19814 31214 52614 88414 888
Central government6 0066 0865 1535 7855 110
Local government8 1928 2269 3739 1009 778
 
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 world31 38732 05431 36830 38629 206

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
3rd quarter 20174th quarter 20171st quarter 20182nd quarter 20183rd quarter 2018
Sum all sectors2 7732 7433 0303 1453 188
 
Non-financial corporations1 7401 6921 9972 0992 206
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 7401 6921 9972 0992 206
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations728757748754700
Norges Bank..........
Banks3833342530
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies..........
Mutual funds..........
Investment trusts and private equity funds567587590593598
Other financial enterprises, except insurance companies and pension funds10010810111350
Life insurance companies and pension funds..........
Non-life insurance companies2429222222
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households304294285293282
Unincorporated enterprises within households6562585551
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc.239233228238231
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