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157593
Decrease in value-adjusted profit for life insurance
statistikk
2014-05-27T10:00:00.000Z
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, Q1 2014

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Decrease in value-adjusted profit for life insurance

Life insurance companies had a decrease in value-adjusted profit of 34.6 per cent compared to the first quarter last year. This is mainly due to negative net value adjustments in shares, participations and primary capital certificates.

Key Figures. NOK MillionPublished 27 May 2014
Total
1st quarter 20131st quarter 2014
Life insurance companies
Assets1 028 6041 114 628
Earned premiums, net of reinsurance34 69747 860
Gross claims payment11 47411 739
Profitt/loss before tax and allocation to customers3 0984 762
Value-adjusted profitt/loss8 2855 419
Net income from financial assets19 30313 560
Non-life insurance companies
Assets210 501223 174
Earned premiums14 02314 980
Gross claims payments10 71412 577
Profitt/loss on ordinary activities3 6263 795
Balance on the technical account for non-life insurance1 6571 568
Net income from financial assets2 5992 897

Source: Statistics Norway

Life insurers had a value-adjusted profit of NOK 5.4 billion after the first quarter of 2014. This is a decrease of NOK 2.9 billion compared with the previous year. One of the main reasons for the decrease is a net loss of NOK 682 million in value adjustments on shares, participations and primary capital certificates. The profit amounted to NOK 1.4 billion; an increase of 11.8 per cent compared to the same period last year.

Increase in shares in securities funds for life insurance

Life insurance companies’ total assets increased by 8.4 per cent compared to the corresponding quarter last year. Bonds and certificates made up 41.9 per cent of total assets; a decrease of 4.5 percentage points from last year. Shares in securities funds increased by a total of 39.2 per cent. The increase, as a share of total assets, amounted to 7.4 per cent.

Increase in gross claims payment for non-life insurance

The balance of the technical account declined by 5.4 per cent, and amounted to NOK 1.6 billion at the end of the first quarter of 2014. The profit of ordinary activities amounted to NOK 3.8 billion; an increase of 4.7 per cent. Non-life insurance companies’ gross premiums written increased by 7.3 per cent, while the gross claims payment increased by 17.4 per cent compared with the corresponding quarter last year.

Decrease in shares, participations and primary capital certificates

The non-life insurance companies’ holdings of shares, participations and primary capital certificates decreased by 15.4 per cent compared to the first quarter last year. As a share of total assets, this amounts to 7.6 per cent. This is a decrease of 1.9 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 40 per cent; a decrease of 1.6 percentage points from the previous year.