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Increase in the technical account for non-life insurance
statistikk
2014-08-25T10:00:00.000Z
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, Q2 2014

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Increase in the technical account for non-life insurance

Non-life insurance companies had an increase in the technical account of NOK 1.6 billion compared to the second quarter last year. One of the main reasons was an increase of 5.7 per cent in earned premiums.

Key Figures. NOK MillionPublished 25 August 2014
Total
2nd quarter 20132nd quarter 2014
Life insurance companies
Assets1 064 5271 147 060
Earned premiums, net of reinsurance57 71273 182
Gross claims payment22 90223 566
Profitt/loss before tax and allocation to customers5 5289 977
Value-adjusted profitt/loss8 99916 449
Net income from financial assets26 69637 148
Non-life insurance companies
Assets211 051219 390
Earned premiums29 02930 686
Gross claims payments21 92624 187
Profitt/loss on ordinary activities5 3129 096
Balance on the technical account for non-life insurance2 6554 289
Net income from financial assets3 7336 178

Source: Statistics Norway

Life insurers had a value-adjusted profit of NOK 16.4 billion after the second quarter of 2014. This is an increase of NOK 7.5 billion compared with the previous year. One of the main reasons for the increase is a net profit of NOK 2.8 billion in value adjustments on shares, participations and primary capital certificates. The profit amounted to NOK 2.8 billion; an increase of 1.1 per cent compared to the same period last year.

Decrease in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 7.8 per cent compared to the corresponding quarter last year. Bonds and certificates made up 40.0 per cent of total assets; a decrease of 6.4 percentage points from last year. Shares in securities funds increased by a total of 43.9 per cent. The increase, as a share of total assets, amounted to 8.6 per cent.

Increase in earned premiums for non-life insurance

The balance of the technical account increased by a total of 61.5 per cent, and amounted to NOK 4.3 billion at the end of the second quarter of 2014. The profit of ordinary activities amounted to NOK 9.1 billion; an increase of 71.2 per cent. Non-life insurance companies’ earned premiums written increased by 5.7 per cent.

Decrease in shares, participations and primary capital certificates

The non-life insurance companies’ holdings of shares, participations and primary capital certificates decreased by 12.8 per cent compared to the second quarter last year. As a share of total assets, this amounts to 8.1 per cent. This is a decrease of 1.6 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 39.9 per cent; a decrease of 0.6 percentage points from the previous year.