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Published:
This is an archived release.
Fall in gross claim payments for life insurance
In 2008, life insurance companies had a decrease in their gross claim payments by 6 per cent compared to the year before. Non-life insurance companies had a 17 per cent increase in their earned premiums.
Non-life insurance
The nominal growth in earned premiums for the non-life insurance industry was NOK 7.1 billion in 2008. The growth in claims incurred was NOK 4.7 billion; an increase of 16 per cent compared with the previous year.
Increase in earned premiums
During 2008 there was an increase in earned premiums for all private non-life insurance services. Motor vehicle insurance services had an increase of 14 per cent. Claims incurred also increased for private non-life insurance services.
Life insurance
Gross premiums written for life insurance amounted to NOK 68.2 billion in 2008. During the same period, gross claim payments decreased by NOK 3.5 billion.
The group pension services has the largest share of the premiums written, with about 83 per cent. At the same time, this insurance class has 40 per cent of the gross claim payments. During the period from 2006 to 2008, gross premiums written increased by 46 per cent. This can be seen in connection with the introduction of the mandatory occupational pension in 2006.
Tables
The statistics is now published as Life and non-life insurance companies, accounts.
Contact
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Statistics Norway's Information Centre
E-mail: informasjon@ssb.no
tel.: (+47) 21 09 46 42