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241199
Higher earned premiums for life insurance
statistikk
2015-11-05T10:00:00.000Z
Banking and financial markets
en
forsbra, Life and non-life insurance companies, premiums and disbursements, premium income, claims settlement, claims payment, pension insuranceFinancial institutions and other financial corporations, Banking and financial markets
true
Life insurance companies had a 13.5 per cent increase in earned premiums in 2014 compared to the year before. Non-life insurance companies had an increase in gross premium income of 5.5 per cent.

Life and non-life insurance companies, premiums and disbursements, 2014

As of 2016 the statistics is published with Life and non-life insurance companies, accounts

Content

Published:

Higher earned premiums for life insurance

Life insurance companies had a 13.5 per cent increase in earned premiums in 2014 compared to the year before. Non-life insurance companies had an increase in gross premium income of 5.5 per cent.

Life and non-life insurance companies. Breakdown of premiums and claims by classes. HovedtabellPublished 5 November 2015
Total
20132014
Life insurance companies
Gross premiums written81 76592 809
Gross claim payment45 11346 783
Non-life insurance companies
Earned premiums60 14263 465
Claims incurred41 56942 637

Source: Statistics Norway

The nominal growth in premium income for the non-life insurance industry was NOK 3.3 billion in 2014. During the same period, the growth in claims incurred was NOK 1.1 billion.

Motor vehicle; increase in earned premiums

Motor vehicle insurance services had an increase of 4 per cent in 2014, while claims incurred decreased by 1.0 per cent.

Increase in premiums written for life insurance

Premiums written for life insurance increased by 13.5 per cent from 2013 to 2014. During the same period, gross claim payments increased by 3.6 per cent and amounted to NOK 46.8 billion.

Increase in premiums written for defined contribution pension schemes

Defined contribution pension schemes account for the largest share of premiums written and gross claim payments for life insurance. From 2013 to 2014, premiums written for defined contribution schemes increased by 16.4 per cent, while gross claim payments increased by 9.2 per cent. Individual life insurance services saw the greatest increase in premiums written, with 19.2 per cent. During the same period, gross claim payments decreased by 9.4 per cent.