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Strong results for insurance
statistikk
2013-02-28T10:00:00.000Z
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
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Life and non-life insurance companies, accounts, Q4 2012

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Strong results for insurance

Both non-life and life insurance companies had increased profits during the fourth quarter of 2012 compared to the same period in 2011. This is manly due to an increase in the financial income.

Key Figures. NOK MillionPublished 28 February 2013
Total
4th quarter 20114th quarter 2012
Life insurance companies
Assets907 232993 944
Earned premiums, net of reinsurance85 93291 575
Gross claims payment40 79644 606
Profitt/loss before tax and allocation to customers5 9619 738
Value-adjusted profitt/loss-87718 136
Net income from financial assets18 05456 717
Non-life insurance companies
Assets192 992201 604
Earned premiums54 58056 306
Gross claims payments41 55343 198
Profitt/loss on ordinary activities6 70715 042
Balance on the technical account for non-life insurance6 3358 748
Net income from financial assets3 7218 420

Source: Statistics Norway

Life insurance companies achieved a value-adjusted profit of NOK 18.1 billion in the 4th quarter of 2012; an increase of NOK 19 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 34 billion, an increase of 0.6 per cent in one year. Profit totalled NOK 4.9 billion; an increase of NOK 2.2 billion compared to the same period in 2011.

Increase in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 9.6 per cent compared to the corresponding quarter in 2011. The holding of shares and primary capital certificates as a percentage share of total assets was 42.9 per cent; an increase of 0.5 percentage points from the previous year. Bonds and certificates made up 47.3 per cent of total assets; a decrease of 0.6 per cent from last year.

Growth in earned premiums for non-life insurance

Non-life insurance companies’ financial income increased by 4.9 per cent compared with the corresponding quarter in 2011. This was mainly due to an increase in the share of profits and interest earnings. The profit for ordinary activities amounted to NOK 15 billion. The profit for the technical account increased by 25.8 per cent to NOK 8.8 billion. Earned premiums increased by 3.2 per cent compared to 2011.

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

Investments in shares, participation and primary capital certificates decreased by 46.3 per cent compared to 2011. As a percentage of total asset investments in shares, participations, primary capital certificates and shares in securities, funds amounted to 10.9 per cent compared to the same period in 2011. Bonds and certificates as a share of total assets amounted to 42.5 per cent of total assets; an increase of 1.5 percentage points compared to 2011.