Continued increase in profits for pension funds

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The result for pension funds was NOK 3.7 billion in 2016, compared to NOK 2.8 billion in 2015. One of the main reasons for this increase was the better return on securities in 2016.

Realized and unrealized gains from financial assets were NOK 10.1 billion in 2016, according to the statistics Pension funds. The corresponding figure in 2015 was NOK 5 billion.

Decline in premium income

From 2015 to 2016 the pension funds saw a decrease of 34 per cent in earned premiums. The reason for this is the decline in the transfer of premium reserves from other companies, which went from NOK 7.6 billion in 2015 to NOK 315 million in 2016.

The net change in technical provisions was 19.5 billion in 2016, a decrease of 17.6 per cent compared to 2015.

Increase in shares and shares in mutual funds

Total assets of pension funds increased with NOK 17.8 billion to NOK 331.8 billion in 2016. This is an increase of 5.7 per cent compared to 2015. Shares and shares in mutual funds increased by 10.7 per cent in 2016, to NOK 169.5 billon. This represents 51.1 per cent of the total assets. Holdings of shares and primary capital certificates represent 41.6 per cent of total assets in the same period.  

The technical provisions were NOK 294.1 billion in 2016, an increase of 5 per cent compared to 2015.

Figure 1. Asset allocation. Pension funds

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Bonds and certificates 57964 66548 68034 72453 79586 91921 96428 99830 113513 115292 123726 132316 137571 137989
Shares, participation and primary capital 26494 38461 49763 62547 71305 51637 73437 89282 79531 95418 116770 135605 153153 169494

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