339952
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
339952
statistikk
2018-05-22T08:00:00.000Z
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

1 504 471

NOK Mill. assets for life-insurance companies

Key Figures. NOK Million
Total
1st quarter 20171st quarter 2018
Life insurance companies
Assets1 414 2801 504 471
Earned premiums, net of reinsurance29 50328 788
Gross claims payment13 81214 319
Profitt/loss before tax and allocation to customers5 4487 134
Value-adjusted profitt/loss11 675-4 027
Net income from financial assets24 313-5 401
Non-life insurance companies
Assets250 576254 737
Earned premiums15 80916 044
Gross claims payments13 79513 635
Profitt/loss on ordinary activities4 3871 013
Balance on the technical account for non-life insurance2 093991
Net income from financial assets2 31044

See more tables on this subject

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

Life insurance companies. Profitt and loss account. NOK Million
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st 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 reinsurance29 50354 24679 233104 03028 788
Gross premiums written24 55547 05070 12093 57223 683
Reinsurers share of gross premiums written-284-456-622-995-249
Transfers of premium reserve from other companies5 2317 6529 73511 4535 354
 
Claims incurred, net of reinsurance18 98034 60249 78965 24719 871
Gross claims payment13 81227 46540 93854 70014 319
Reinsurance share of gross claims payments-105-243-397-474-135
Other appropriations1..........
Transfers of premiumreserve etc. to other companies5 2747 3809 24811 0215 687
 
Net change in technical provisions31 38456 56083 612118 746258
Premium reserve21 40539 48359 81686 5856 483
Other technical provisions215669-2016 401-6
To/from revaluation reserve6 2679 9668 90218 003-11 135
Means allocated insurance contracts3 5577 04215 0957 7584 917
 
Other operating income/ costs-1 560-3 151-4 508-4 260-1 041
Commision received327382-725
Operating income, real property10213142372
Other operating income3586841 0341 516498
Personell costs7931 4802 1523 057679
Commision submitted238429592868216
Operating costs, real property00110
Depreciations of non-financial assets6816921028665
Other operating costs8621 8502 7011 600975
 
Investment income /costs7 73417 69927 25641 7278 300
Interest income bonds and certificates4 2248 75215 79323 7026 428
Interest income other assets1 5513 1254 5286 0801 253
Share dividend etc.2 4536 5797 99813 413865
Interest costs4957571 0621 468247
 
Gains/losses, value (re-)adjustments on financial assets16 57926 67738 03652 043-13 701
Realized gains/losses3 6944 33511 56316 4384 777
Shares, participations and primary capital certificates4 4737 1959 10515 5153 140
Bonds and certificates239336-2461 044-590
Financial derivatives-703-3 1013 054122 218
Land and buildings05550
Other realized gains/losses-315-100-356-1399
Net change in value12 88622 34226 47335 606-18 477
Shares, participations and primary capital certificates10 91916 96019 67429 828-19 346
Bonds and certificates309-43-1 179-1 255-2 277
Financial derivatives602 7844 069-404 761
Land and buildings..........
Other net change in value1 5972 6413 9087 073-1 616
 
Profitt/loss on ordinary activities1 8914 3096 6169 5472 217
 
Other result components-720-97-7-9
 
Tax257553834380445
 
Total Profitt/loss1 6273 7765 6869 1601 763
 
Specifications
Balance on the technical account for life insurance1 2792 7324 5994 9991 520
Value-adjusted profitt/loss11 67521 21430 49342 220-4 027

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

Life insurance companies. Balance sheet by financial instrument. NOK Million
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Assets
Intangible assets1 6571 0861 0271 4911 719
 
Tangible fixed assets1 1831 1811 1681 1751 020
Land and buildings1 0351 0381 0291 043895
Machinery, equipment and vehicles147143139132126
 
Capital investments1 259 8431 279 5301 306 4861 338 1091 339 613
Shares, participation and primary capital certificate208 157209 941212 639218 624218 252
Shares in securities' fund517 173533 140554 276565 600564 768
Bonds and certificates527 512527 863530 880549 061549 121
Financial derivatives2 2623 8773 9512 7384 106
Other capital investment4 7404 7104 7402 0863 366
 
Loans120 488122 986120 804127 863125 106
 
Remaining claims5 9437 57413 5955 1306 511
Insurance claims2 9875 09510 8521 9292 766
Reinsurance share of technical provisions978939956942948
Other claims1 9781 5401 7872 2592 797
 
Cash and bank deposits25 16628 56424 76326 12130 502
 
Total assets1 414 2801 440 9211 467 8421 499 8891 504 471
 
Liabilities and equity capital
Eqiuty capital96 21198 611100 015101 492102 970
Deposit capital39 30239 55040 90541 11440 672
Company capital7 8477 8477 8477 8477 619
Share premium account17 87218 11218 12118 12117 920
Other deposit capital13 58313 59114 93615 14615 133
Retained earnings56 90959 06159 11060 37862 298
Other equity55 40355 58653 95753 09560 546
Not allocated profit1 5063 4755 1527 2831 752
 
Subordinated liabilities26 16226 27726 11926 97127 537
Bonds16 59216 70716 54917 40117 967
Other subordinated loans9 5709 5709 5709 5709 570
 
Technical provisions1 270 5651 294 3321 317 5421 350 0971 350 153
Premium reserve11 143 6421 162 1391 183 9171 209 2041 216 197
Additional provisions44 31544 10344 08751 34351 051
Revaluation reserve52 23455 93354 86963 97052 835
Net provision for outstanding claims2..........
Premium and pension provision25 85624 79220 88224 35624 322
Net other technical provisions1 5471 4161 3441 1361 435
Unallocated surplus funds to insurance contracts2 9725 95012 444874 313
 
Provisions for other charges3 0663 4185 5493 7004 340
Provisions for pension9269121 002917910
Deffered tax2 0492 4242 6322 6823 324
Other provisions for charges91821 915101106
 
Remaining liabilites18 27618 28318 61617 62919 471
Expences accrued877757667833877
Deffered income273726421
Payable tax3347686956
Dividend61......65
Insurance liabilities2 4412 3005 1123 5323 596
Other liabilities9 58912 00810 0057 56012 630
Financial derivatives5 2473 1342 7395 6292 226
 
Total libilities1 414 2801 440 9211 467 8421 499 8891 504 471
 
Specifications
Number of companies1919191918
Loan with morgage on dwelling47 89748 29046 78948 77949 273
Net tehcnical provisions where the risk is borne by the policyholder253 535265 623278 986296 751305 598

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
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
 
Sum all sectors725 330743 081766 915784 224783 020
 
Non-financial corporations133 481136 258137 282139 029139 611
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 2751 2541 4261 5461 635
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government1 0091 1671 164195194
Private non-financial incorporated enterprises131 198133 837134 691137 289137 782
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations409 832421 981437 526444 069442 682
Norges Bank..........
Banks75829290105
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies2 7372 7812 8642 8502 811
Mutual funds401 849413 285428 917435 353433 879
Investment trusts and private equity funds633650643564636
Other financial enterprises, except insurance companies and pension funds2 1972 5912 3392 6192 695
Life insurance companies and pension funds321550542537537
Non-life insurance companies2 0202 0412 1302 0552 018
 
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 world182 018184 842192 108201 126200 727

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
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Sum all sectors527 512527 863530 880549 061549 121
 
Non-financial corporations76 95576 40480 20383 60784 010
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government22 74522 46423 74123 75323 601
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government25 04624 96525 55625 34325 315
Private non-financial incorporated enterprises29 16428 97530 90734 51135 094
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations114 925115 681114 499113 484114 436
Norges Bank..........
Banks47 04146 66145 60246 23245 793
Mortgage companies66 86167 93867 81566 18467 837
Finance companies..........
State lending institutions etc...........
Financial holding companies1450515042
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds738735733733507
Life insurance companies and pension funds160165166179176
Non-life insurance companies11213213310682
 
General government48 32046 41545 27046 76046 858
Central government26 26425 80523 95726 44925 952
Local government22 05620 61021 31220 31120 906
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world287 311289 363290 908305 210303 817

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

Life insurance companies. Total utilized loans by borrower sector. NOK Million
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Sum all sectors120 488122 986120 804127 863125 106
 
Non-financial corporations34 82836 78838 41542 22841 444
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government5555505046
Public unincorporated enterprises, owned by local government233323319373449
Public incorporated enterprises, owned by local government7 4187 8388 3798 5677 212
Private non-financial incorporated enterprises26 95228 40429 52933 23233 733
Private non-financial unincorporated enterprises165163134....
Private non-profit institutions serving enterprises55555
 
Financial corporations2 9802 8142 6672 9231 136
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies208406188195196
Mutual funds..........
Investment trusts and private equity funds1 9191 9511 9651 4671 448
Other financial enterprises, except insurance companies and pension funds8534575141 260-507
Life insurance companies and pension funds..........
Non-life insurance companies..........
 
General government29 57429 85930 25432 26232 784
Central government..........
Local government29 57429 85930 25432 26232 784
 
Non-profit institutions serving households404409404428444
 
Households42 14742 56141 00742 11841 714
Unincorporated enterprises within households00000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.130128104103114
Employees, recipients of property income, pensions and social contributions, students etc.42 01742 43340 90342 01541 600
Unspecified sector..........
 
Rest of the world10 55610 5558 0557 9057 584

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

Non-life insurance company. Profitt and loss account. NOK Million
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st 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 reinsurance15 80932 69749 08365 77816 044
Gross premiums written27 36846 17760 42978 76430 265
Reinsurers share of gross premiums writtens-4 467-7 442-9 249-11 456-4 616
Gross change in the provision for unearned premiums-8 575-7 759-3 503-1 014-11 376
Reinsurance share1 4821 7211 406-5161 772
 
Claims incurred and net change in technical provisions10 70521 66433 23244 96911 952
Gross claims payment13 79526 81240 15253 96213 635
Reinsurers share of gross claims payments-1 788-3 270-5 759-7 456-1 848
Gross change in the provision for outstanding claims-1 573-1 529-764-103-233
Reinsurers share, gross change in the provision for outstanding claims498-273-353-1 550369
Bonus and rebates1..........
Net change in technical provision2-228-76-4411629
 
Other operating income/ costs-3 026-6 315-9 182-12 520-3 123
Commision received5910914620650
Operating income, real property4920569
Other operating income9221032040887
Personell costs1 7713 5235 3327 2701 791
Commision submitted7411 5301 9682 706745
Operating costs, real property458165
Depreciations of non-financial assets6914121640591
Other operating costs5971 4432 1442 792637
 
Investment income /costs9801 9282 8583 6811 106
Interest income8281 6262 5393 326727
Share dividend etc.194398453535423
Interest costs429613418144
 
Gains/losses, value (re-)adjustments on financial assets1 3302 0282 8354 028-1 062
Net realized gains/losses1 0591 3002 9373 459872
Net change in value270728-102569-1 934
 
Profitt/loss on ordinary activities4 3878 67412 36215 9981 013
 
Other result components-34-95-82-423-4
 
Tax6081 5062 4272 874538
 
Total Profitt/loss3 7457 0739 85412 701470
 
Specifications
Balance on the technical account for non-life insurance2 0934 7766 9708 450991

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

Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st 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 assets4 9995 1545 8075 6875 957
 
Tangible fixed assets1 2081 1841 1511 1671 417
Land and buildings610608606642644
Machinery, equipment and vehicles598576545524774
 
Capital investments153 203151 505150 580152 674150 910
Shares, participation and primary capital certificates17 47118 08318 03018 60618 256
Shares in securities' fund32 22732 12534 04133 51332 679
Bonds and certificates99 95697 77597 47199 79998 220
Financial derivatives1 8943 192730507469
Other capital investments1 6563303072491 285
 
Loans2 8892 7482 7732 7433 030
 
Reinsurance share of technical provisions18 43119 06818 97919 84621 714
 
Remaining claims58 35058 48255 05354 19959 748
Insurance claims23 94223 20020 27521 00227 361
Other claims34 40935 28234 77933 19732 387
 
Cash and bank deposits11 4969 0619 3729 70611 962
 
Total assets250 576247 202243 715246 023254 737
 
Liabilities and equity capital
Eqiuty capital78 29781 02482 95279 62678 137
Deposit capital14 52314 36814 36014 86114 852
Company capital4 9824 8614 9324 9984 984
Share premium account3 7073 7083 7374 1674 168
Other deposit capital5 8345 7995 6915 6965 700
Retained earnings63 77466 65668 59264 76563 286
Other equity58 27358 59757 86352 17160 439
Not allocated profit5 5018 05910 72912 5942 846
 
Subordinated liabilities3 2213 0663 0683 0693 071
Bonds2 8432 6882 6902 6902 941
Other subordinated loans378378378378130
 
Technical provisions131 891131 384127 986126 767135 507
Gross provision for unearned premium37 52536 94131 88729 13039 071
Gross Provision for outstanding claims89 03888 97689 30190 51390 176
Gross provision for bonuses and rebates2..........
Equalization provision15 3275 4676 7997 1246 260
Other technical provision2..........
 
Provisions for other charges10 27410 53910 43910 53510 457
Provisions for pension1 5211 6921 6081 6851 489
Deffered tax7 6367 7357 7227 8967 922
Other provisions for charges1 1161 1121 1099551 046
 
Remaning liabilites26 89421 18919 27026 02627 564
Expences accrued1 1611 1831 1721 6691 555
Deffered income10910183256100
Payable tax1 8431 5712 4442 4251 511
Dividend5 393-1..4 2694 442
Insurance liabilities6 1334 2824 9264 6855 789
Other liabilities10 49211 18610 11712 15013 855
Financial derivatives1 7612 868528573312
 
Total libilities250 576247 202243 715246 023254 737
 
Specifications
Number of companies8585858583
Loan with morgage on dwelling256248238232227

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
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Sum all sectors49 69850 20852 07252 11950 935
 
Non-financial corporations5 2605 4455 5365 8155 807
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government206186202195196
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government55383
Private non-financial incorporated enterprises4 4314 6314 7064 9584 952
Private non-financial unincorporated enterprises617624625653656
Private non-profit institutions serving enterprises..........
 
Financial corporations18 67618 59921 17621 50321 918
Norges Bank..........
Banks3402 6642 6402 6342 645
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies3 509571442210198
Mutual funds14 03413 80316 42516 48817 180
Investment trusts and private equity funds425425428590627
Other financial enterprises, except insurance companies and pension funds314382494479517
Life insurance companies and pension funds..682682682682
Non-life insurance companies55716542069
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world25 76226 16425 36024 80123 211

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
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Sum all sectors99 95697 77597 47199 79998 220
 
Non-financial corporations12 49312 81412 82913 82813 419
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 4961 5191 4801 4231 533
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government5 3555 1224 9945 1455 043
Private non-financial incorporated enterprises5 6426 1746 3557 2606 843
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations40 25838 42139 05740 05038 907
Norges Bank..........
Banks17 05615 64415 37115 14213 749
Mortgage companies22 94822 52323 43124 58224 861
Finance companies..........
State lending institutions etc...........
Financial holding companies7878798685
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds2222225958
Life insurance companies and pension funds4646464340
Non-life insurance companies107108108137115
 
General government16 00613 66514 19814 32314 526
Central government7 2656 2056 0066 0975 153
Local government8 7417 4608 1928 2269 373
 
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 19932 87531 38731 59831 368

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
1st quarter 20172nd quarter 20173rd quarter 20174th quarter 20171st quarter 2018
Sum all sectors2 8892 7482 7732 7433 030
 
Non-financial corporations1 9081 7281 7401 6921 997
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 9081 7281 7401 6921 997
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations651702728757748
Norges Bank..........
Banks3838383334
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies..........
Mutual funds..........
Investment trusts and private equity funds500545567587590
Other financial enterprises, except insurance companies and pension funds9495100108101
Life insurance companies and pension funds..........
Non-life insurance companies1924242922
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households330318304294285
Unincorporated enterprises within households7369656258
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc.257249239233228
Unspecified sector..........
 
Rest of the world000..0

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 Corporations

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

Contact