4779_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4779
Positive results for insurance companies
statistikk
2003-09-04T10:00:00.000Z
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 2003

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Positive results for insurance companies

Because of the recovery of the securities market in 2003, net income from financial assets have increased and improved the results of ordinary activities for the insurance companies.

Life insurance

The result before tax and allocation to customers for life insurance companies was NOK 5 billion in the second quarter of 2003, compared with a deficit of NOK 7.3 billion in 2002. The value-adjusted result was NOK 9.3 billion in the second quarter of 2003, compared with NOK minus 8.7 billion the corresponding period in 2002.

Earned premiums - exclusive transfers to other companies -increased by over NOK 1 billion from 2002 to 2003, and were by the end of the second quarter 2003 NOK 18.5 billion. During the same period claims incurred increased by NOK 0.5 billion, to NOK 10.5 billion.

Total assets for life insurance companies increased by 8 per cent from the second quarter 2002 to 2003, and were by the end of the second quarter 2003 NOK 453 billion. 16.7 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2002 was 20 per cent. 54 per cent of total assets consisted of bonds, while the share of commercial papers was 8.5 per cent by the end of the second quarter 2003.

Non-life insurance

For the first time in over two years, the result of ordinary activities for the non-life insurance companies was positive. The surplus was NOK 1.5 billion by the end of second quarter 2003. At the same time in 2002 the deficit was NOK 1.8 billion. The result of the technical account was minus NOK 142 million by the end of second quarter 2003. Earned premiums increased by 8.1 per cent to NOK 18.1 billion, while claims incurred increased by 8.8 per cent, to NOK 13.4 billion. Net income from financial assets increased by NOK 4.6 billion from the second quarter 2002 to 2003, from minus NOK 1.3 billion to NOK 3.3 billion.

Total assets for non-life insurance companies increased by 6.7 per cent from the second quarter 2002 to 2003, and were by the end of second quarter 2003 NOK 109 billion. 11.6 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2002 was 15.5 per cent. 26.9 per cent of total assets consisted of bonds, while the proportion of commercial papers was 12.1 per cent by the end of second quarter 2003.

 

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