4783_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4783
Earned premiums increased in insurance
statistikk
2003-03-06T10:00:00.000Z
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, Q4 2002

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Earned premiums increased in insurance

Earned premiums increased by 13.1 per cent for non-life insurance companies, while claims incurred increased by only 0.5 per cent. For life insurance companies claims incurred decreased by 0.5 per cent, while earned premiums - exclusive transfers to other companies - increased by 6.3 per cent.

In spite of these figures both life- and non-life insurance companies recorded a deficit of more than NOK one billion on ordinary activities at the end of 2002.

Life insurance: earned premiums increased while claims incurred decreased

The result before tax and allocation to customers for life insurance companies was minus NOK 1.7 billion in the fourth quarter of 2002, compared with a surplus of NOK 0.8 billion in 2001. The value-adjusted result was minus NOK 3.1 billion in the fourth quarter of 2002, compared with minus NOK 6.3 billion the corresponding period in 2001.

Earned premiums - exclusive transfers to other companies -, increased by 6.3 per cent from the fourth quarter 2001 to the fourth quarter 2002, from NOK 35.2 billion to NOK 37.4 billion. During the same period claims incurred decreased by 0.8 per cent, to NOK 20.3 billion.

Total assets for life insurance companies increased by 4.3 per cent from the fourth quarter 2001 to 2002, and were by the end of 2002 NOK 430 billion. 14.3 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2001 was 25.4 per cent. 51 per cent of total assets consisted of bonds, while the share of commercial papers was 11.7 per cent by the end of 2002.

Non-life insurance: increased premiums improved the results

The result of the technical account has improved since the fourth quarter 2001, from NOK 3 million to NOK 3 256 million in 2002. The main reason for this improvement is that earned premiums have increased more than claims incurred. Earned premiums increased by 13.1 per cent to NOK 33 billion, while claims incurred increased by only 0.5 per cent, to NOK 26 billion. Net income from financial assets decreased from 2001 to 2002, from NOK 775 million to NOK 723 million.

Total assets for non-life insurance companies decreased by 2.5 per cent from the fourth quarter 2001 to 2002, and were by the end of 2002 NOK 98 billion. 11.3 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2001 was 22 per cent. 29 per cent of total assets consisted of bonds, while the share of commercial papers was 9 per cent by the end of 2002.

 

Tables

Published tables