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Increase in technical account for non-life insurance
statistikk
2015-02-26T10:00:00.000Z
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, Q4 2014

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Increase in technical account for non-life insurance

The technical account of non-life insurance companies had an increase of NOK 1.8 billion from the 4th quarter of 2013 to the 4th quarter of 2014. One of the main reasons was the 4.6 per cent increase in earned premiums.

Key Figures. NOK MillionPublished 26 February 2015
Total
4th quarter 20134th quarter 2014
Life insurance companies
Assets1 090 6241 203 631
Earned premiums, net of reinsurance95 365131 026
Gross claims payment45 62547 213
Profitt/loss before tax and allocation to customers13 73615 207
Value-adjusted profitt/loss22 45431 042
Net income from financial assets66 14071 225
Non-life insurance companies
Assets216 580224 487
Earned premiums60 14262 927
Gross claims payments43 90245 729
Profitt/loss on ordinary activities14 41718 600
Balance on the technical account for non-life insurance9 00410 808
Net income from financial assets8 73910 123

Source: Statistics Norway

Life insurers had a value-adjusted profit of NOK 31 billion at the end of the fourth quarter of 2014. This is an increase of NOK 8.6 billion compared with the previous year. One of the main reasons for the increase is a net profit of NOK 5 billion in realised gains on financial assets. The profit amounted to NOK 4.8 billion; a decrease of 23 per cent compared to the same period in 2013.

Decrease in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 10.4 per cent compared to the corresponding quarter in 2013. Bonds and certificates made up 39.6 per cent of total assets; a decrease of 8.3 percentage points from the previous year. Shares in securities funds increased by a total of 45.4 per cent. The increase, as a share of total assets, amounted to 8.3 per cent.

Increase in earned premiums for non-life insurance

The balance of the technical account increased by a total of 20 per cent, and amounted to NOK 10.8 billion at the end of the fourth quarter of 2014. The profit of ordinary activities amounted to NOK 18.6 billion; an increase of 29 per cent. Non-life insurance companies’ earned premiums written increased by 4.6 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 5.2 per cent compared to the fourth quarter of 2013. As a share of total assets, this amounts to 8.1 per cent, which is a decrease of 0.8 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 39.5 per cent; a decrease of 0.7 percentage points from the previous year.