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90321
Strong results for insurance
statistikk
2012-11-28T10:00:00.000Z
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, Q3 2012

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Strong results for insurance

Both non-life and life insurance companies had increased profits during the third quarter of 2012 compared to the same period last year. This is manly due to an increase in the financial income.

Life insurance companies achieved a value-adjusted profit of NOK 19.9 billion in the first nine months of 2012; an increase of NOK 27.4 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 23.9 billion; a decline of 5 per cent in one year. Profit totalled NOK 3.8 billion; an increase of NOK 3 billion compared to the same period in 2011.

Life insurance. Profit and loss account. NOK million
 
 1st-3rd quarter 2012    1st-3rd quarter 2011
 
Earned premiums, exclusive of transfers to other companies71 56169 541
Claims incurred40 56241 929
Profit/loss before tax and allocation to customers8 9406 763
   
Net income from financial assets44 4531 583
Value-adjusted profit/loss19 868-7 583
 

Increase in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 10 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 43 per cent; a decline of 2 percentage points from the previous year. Bonds and certificates made up 46 per cent of total assets; an increase of 2 per cent from last year.

Life insurance. Balance sheet. NOK million
 
 3rd quarter 2012    1st-3rd quarter 2011
 
Total assets 978 845 893 106
Investments in subsidiaries and other shares, participation and primary capital certificates 417 046 396 528
Holdings of bonds and certificates 451 456 396 019
 

Growth in earned premiums for non-life insurance

Non-life insurance companies’ financial income decreased by 14 per cent compared with the corresponding quarter last year. The main reason was that share of profits and interest earnings decreased. The profit of ordinary activities amounted to NOK 11.6 billion. The profit of the technical account increased by 45 per cent to NOK 6.7 billion. The earned premiums increased by 7 per cent compared to last year.

Non-life insurance. Profit and loss account.NOK million
 
 1st-3rd quarter 2012   1st-3rd quarter 2011
 
Earned premiums42 19839 410
Claims incurred29 20528 894
Profit/loss of ordinary activities11 5574 810
   
Net income from financial assets6 4812 153
Profit/loss of the technical account6 7404 659
 

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

Investments in shares, participation and primary capital certificates decreased by 16 per cent compared to last year. As a percentage of total asset investments in shares, participations, primary capital certificates and shares in securities, funds amounted to 20 per cent compared to the same period last year. Bonds and certificates as a share of total assets amounted to 42 per cent of total assets; an increase of 2 percentage points compared to last year.

Non-insurance. Balance sheet. NOK million
 
 3rd quarter 2012   2nd quarter 2011
 
Total assets 202 722 190 774
Investments in subsidiaries and other shares, participation and primary capital certificates40 95741 337
Holdings of bonds and certificates85 09677 078
 

 

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