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Increase in profit for pension funds
statistikk
2013-09-18T10:00:00.000Z
Banking and financial markets
en
pensjonsfond, Pension funds, private pension funds, municipal pension funds, profit and loss account, shares, bonds, lending, borrowers, issuersFinancial institutions and other financial corporations, Banking and financial markets
false

Pension funds, 2012

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Increase in profit for pension funds

The result of pension funds was NOK 3 billion in 2012, compared to NOK 549 million in 2011. The main reason for this was the development in the stock market in 2012.

Pension funds. HovedtallPublished 12 September 2013
Total
20112012
Assets211 137230 319
Shares, participation and primary capital certificates79 53196 138
Bonds and certificates113 513115 177
Gross premium written12 35215 281
Net income from financial assets-20716 269
profitt/loss on ordinary activities6113 058
Gross pensions and claims payment5 4955 811
Value-adjusted result-5 20310 280

Source: Statistics Norway

Figure 1. Asset allocation. Pension funds 2006-2012. NOK Million

Net income from financial assets was NOK 9.1 billion in 2012. The corresponding figure was NOK -7.3 billion in 2011. The reason for the increase was, as mentioned, the development in the stock market in 2012. This development resulted in unrealised gains on shares and primary capital certificates of NOK 5.4 billion.

Higher premiums

Earned premiums were NOK 15.5 billion in 2012. This is an increase of 16.2 per cent from 2011. Claims incurred, net of reinsurance, show a slight decrease from NOK 8.4 billion in 2011 to NOK 8.2 billion in 2012.

An increase in total assets

Total assets of pension funds increased from NOK 211.1 billion in 2011 to NOK 230.3 billion in 2012. This represents an increase of 9.1 per cent, or NOK 19.2 billion; a significant increase compared to last year, which showed an increase of 2.2 per cent.

At the end of 2012, pension funds had placed 92.5 per cent of total assets in securities. The corresponding figures in 2011 and 2010 were 91.8 per cent and 92.2 per cent respectively.

Holdings of shares and primary capital certificates were NOK 96.1 billion in 2012; an increase of 20.9 per cent from the previous year. In the same period, bonds and certificates had a small increase of 1.5 per cent, from NOK 113.5 billion in 2011 to NOK 115.1 billion in 2012.