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4791
Improved result for insurance companies
statistikk
2002-06-07T10:00:00.000Z
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 2002

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Improved result for insurance companies

Better performance of the Norwegian securities markets led to a better result for life and non-life insurance companies. For non-life insurance companies the result of technical account were considerably stronger in the first quarter of 2002 than in 2001.

Non-life insurance

The result of the technical account has improved since the first quarter 2001, from NOK 37 million to NOK 1 403 million. The result of ordinary activities for non-life insurance companies was improved from minus NOK 1 583 million in the first quarter 2001 to minus NOK 237 million in 2002.

Earned premiums for non-life insurance companies increased by 18 per cent from the first quarter of 2001 to 2002, from NOK 6.8 billion to NOK 8.1 billion. During the same period the claims incurred increased by 9 per cent, to NOK 6.4 billion. The total assets for non-life insurance companies increased by 11 per cent from the first quarter 2001 to 2002, and the total asset was NOK 107 billion at the end of first quarter 2002.

Life insurance

The result for life insurance companies before tax and allocation to costumers was NOK 0.5 billion in the first quarter of 2002, compared with minus NOK 1 billion in 2001. This was 0.1 per cent and minus 0.3 per cent of the total assets in first quarter of 2002 and 2001 respectively. The value-adjusted result was minus NOK 8.5 billion in 2001, compared to first quarter of 2002 when it was NOK 0.3 billion.

Earned premiums (exclusive transfers to other companies) decreased by 3 per cent from NOK 12.2 billion in the first quarter in 2001 to NOK 11.8 billion in the corresponding period 2002. During the same period the claims incurred increased by 3.7 per cent, to NOK 5.6 billion. Total assets for non-life insurance companies increased by 6 per cent between first quarter 2001 and 2002, and total asset was at the end of first quarter 2002 NOK 423 billion.

 

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