4775_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4775
Recovery in insurance
statistikk
2003-12-04T10:00:00.000Z
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, Q3 2003

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Recovery in insurance

As a result of the recovery of the security market, net income from financial assets has increased and led to a positive result for ordinary activities for both life and non-life insurance companies.

Life insurance

Profit before tax and allocation to customers, and value-adjusted profit for life insurance companies saw a positive development in the third quarter of 2003 compared with the deficits in 2002.

Earned premiums exclusive transfers to other companies decreased by 9.4 per cent from the third quarter 2002 to the third quarter 2003. During the same period claims incurred increased by 3.8 per cent.

Life insurance. Profit and loss account. NOK Million
 
    3rd quarter 2003   3rd quarter 2002
 
Earned premiums, exclusive of transfers
to other companies		26 86729 639
Claims incurred15 86615 283
Profit/loss before tax and allocation
to customers		6 667-10 812
   
Net income from financial assets23 567-6 669
Value-adjusted profit/loss11 595-12 245
 
Life insurance. Balance sheet. NOK Million
 
 3rd quarter 20033rd quarter 2002
 
Total assets   461 313   420 411
Investments in subsidiaries and other shares,
participation and primary capital certificates		81 42065 484
Holdings of bonds 248 710 218 238
Holdings of certificates37 09640 881
 

Total assets for life insurance companies increased by 9.7 per cent from the third quarter 2002 to the third quarter 2003. 17.6 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2002 was 15.6 per cent. 54 per cent of total assets consisted of bonds, while certificates amounted to 8 per cent by the end of the third quarter 2003.

Non-life insurance

Profit for ordinary activities for non-life insurance companies saw a positive development by the end of the third quarter 2003. At the same time in 2002 non-life insurance companies had an aggregate deficit. The reason for the improved result is that net income from financial assets has increased considerably. In addition, earned premiums have increased by 10.1 per cent, while claims incurred increased by only 5.6 per cent from third quarter 2002 to the third quarter 2003.

Non-life insurance. Profit and loss account.
NOK Million
 
    3rd quarter 2003   3rd quarter 2002
 
Earned premiums27 26524 771
Claims incurred19 70318 657
Profit/loss of ordinary activities2 990-1 476
   
Net income from financial assets4 441-512
Profit/loss of the technical account 9103 049
 
Non-insurance. Balance sheet. NOK Million
 
     3rd quarter 2003    3rd quarter 2002
 
Total assets 108 754 102 053
Investments in subsidiaries and other shares,
participation and primary capital certificates		13 44015 027
Holdings of bonds27 33230 312
Holdings of certificates14 8746 917
 

Total assets for non-life insurance companies increased by 6.6 per cent from the third quarter 2002 to the third quarter 2003. 12.4 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2002 was 14.7 per cent. 25.1 per cent of total assets consisted of bonds, while certificates made up 13.7 per cent by the end of the third quarter 2003.

 

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