4797_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4797
Severe decline in the results in insurance
statistikk
2001-09-17T10:00:00.000Z
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, Q2 2001

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Severe decline in the results in insurance

The results for life and non-life insurance companies were negative in the second quarter of 2001. This is due to the weak performance of the Norwegian and the international securities markets.

Non-life insurance: Minus NOK 1.6 billion

Result of ordinary activities for non-life insurance companies was reduced from NOK 327 millions in second quarter 2000 to minus 1.6 billions in 2001. The main reason is the weak performance of the securities markets.

Earned premiums for non-life insurance companies increased by 15 per cent from second quarter 2000 to 2001, from NOK 12,7 billions to 14.6 billions. During the same period the claim for compensation increased by 12 per cent, to NOK 12 billions. Total assets for non-life insurance companies declined by 1 per cent from second quarter 2000 to 2001, and total asset was at the end of the second quarter 2001 NOK 100 billions.

Life insurance: Minus NOK 6.3 billion

The weak performance of the securities markets led to a severe decline in the value-adjusted result for the life insurance companies. The value-adjusted result was reduced from NOK 2.8 billions in the second quarter 2000 to minus 6.3 billions in 2001. The result before allocation to customers and tax also declined, from NOK 9.7 billions in the second quarter 2000 to 598 millions in 2001.

Earned premiums (exclusive transfers to other companies) for life insurance companies increased by 26 [corrected 19.09.01] per cent from NOK 13.9 [corrected 19.09.01] billions in the second quarter 2000 to 17.5 [corrected 19.09.01] billions in 2001. Net financial income increased from NOK 7.4 billions in the second quarter 2000 to 8.8 billions in 2001. Total assets for non-life insurance companies increased by 7 per cent from the second quarter 2000 to 2001, and total asset was at the second quarter 2001 on NOK 405 billions.

 

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