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204117
Increase in value-adjusted profit for life insurance
statistikk
2014-12-17T10:00:00.000Z
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, 2013

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Increase in value-adjusted profit for life insurance

While life insurance had improved results from 2012 to 2013, non-life insurance experienced weaker profits during the same period.

Key figures. NOK MillionPublished 17 December 2014
TotalPer cent
201220132012 - 2013
Life insurance companies
Assets994 0341 090 6249.7
Earned premium92 00895 3653.6
Gross claims payment44 94445 6251.5
Profitt/loss before tax and allocation to customers5 1836 99334.9
Value-adjusted profitt/loss17 31222 45429.7
Net income from financial assets56 74666 14016.6
Non-life insurance companies
Assets202 988216 5806.7
Earned premium57 51460 1424.6
Gross claims payments46 31843 902-5.2
Profitt/loss on ordinary activities15 02114 417-4.0
Profitt/loss on the technical account8 5297 180-15.8

Source: Statistics Norway

The total profit for the life insurance industry amounted to NOK 6.3 billion in 2013. The value-adjusted result was NOK 22.5 billion; an increase of NOK 5.1 billion compared with 2012.The profit before tax and allocation to customers was NOK 7.0 billion. The increase in the result was mainly due to an increase in net value from financial assets. The increase from 2012 to 2013 in the net value of shares, participations and primary capital certificates amounted to NOK 12.8 billion. The realised gains on shares, participations and primary capital certificates were NOK 14.7 billion. Interest income from bonds and certificates decreased by 7.9 per cent and amounted to NOK 22.2 billion.

Share in securities funds increases for life insurance

Total assets increased by NOK 96.6 billion in 2013. Total assets amounted to NOK 1 091 billion at the end of 2013. Investments in subsidiaries and other shares, participation and primary capital certificates increased by NOK 27.9 billion, and amounted to 41.7 per cent of total assets. Compared to 2012, the holdings of bonds and certificates increased by 10.6 per cent. As a share of the total assets, bonds and certificates decreased by 0.4 percentage points, and amounted to 47.7 per cent.

Weaker technical account for non-life insurance

The total profit for the non-life insurance industry amounted to NOK 12.0 billion in 2013; a decrease of NOK 24 million. The balance on the technical account ended at NOK 7.2 billion; a decrease of 15.8 per cent. Non-life insurance had a net increase in the value of financial assets, amounting to NOK 1.8 billion, while net realised gains on financial assets decreased by NOK 1.4 billion from 2012 to 2013.

Increase in shares and equity certificates for non-life insurance

Total assets increased by 6.7 per cent from 2012 to 2013. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 21.1 per cent of the total assets; a decline of 0.7 percentage points. The holdings of bonds and certificates amounted to 40.3 per cent of the total assets; a decrease of 1.6 percentage points compared to 2012.