4799_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4799
Still weak results in insurance
statistikk
2001-06-14T10:00:00.000Z
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, Q1 2001

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Still weak results in insurance

The results for life and non-life insurance companies were negative in the first quarter. This is due to the weak performance of the Norwegian and the international securities markets. For non-life insurance companies the results of ordinary activities were considerably weaker, but the technical results has been improved.

Non-life insurance: Minus NOK 1.6 billion

Result of ordinary activities for non-life insurance companies was reduced from NOK 56 million in the first quarter 2000 to minus 1.6 billion in 2001. The main reason is the weak performance of the securities markets.

Earned premiums for non-life insurance companies increased by 11 per cent from the first quarter 2000 to 2001, from NOK 6.3 billions to 7 billions. During the same period the claim for compensation increased by 4.3 per cent, to NOK 26.2 billions. Total assets for non-life insurance companies declined by 6.5 per cent from first quarter 2000 to 2001, and total asset was NOK 96.3 billion at the end of the first quarter 2001.

Life insurance: Minus NOK 6.5 billions

The weak performance of the securities market led to a severe decline in the value-adjusted result for the life insurance companies. The value-adjusted result was reduced from NOK 5.7 billions in the first quarter 2000 to minus 6.5 billions in 2001. The result before allocation to customers and tax also declined, from NOK 5.8 billions in the first quarter 2000 to minus 1 billion in 2001.

Earned premiums (exclusive transfers to other companies) for life insurance companies increased by 30 per cent from NOK 9.2 billions in the first quarter 2000 to 12 billions in 2001. Net financial income decreased from NOK 9.3 billions in the first quarter 2000 to minus 7.7 billions in 2001. Total assets for non-life insurance companies increased by 5.3 per cent from the first quarter 2000 to 2001, and total asset was at the first quarter 2001 on NOK 399 billions.