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4773
Positive results in insurance
statistikk
2004-03-04T10:00:00.000Z
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, Q4 2003

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Positive results 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. Earned premiums increased more than claims incurred, which also contributed positive to the results.

Life insurance. Profit and loss account. NOK million
 
 4th quarter 20034th quarter 2002
 
Earned premiums, exclusive of transfers to other companies40 17737 385
Claims incurred21 07820 295
Profit/loss before tax and allocation to customers5 929-1 715
   
Net income from financial assets33 740 300
Value-adjusted profit/loss16 990-3 067
 

Life insurance

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

Earned premiums - exclusive of transfers to other companies - increased by 7.5 per cent from the fourth quarter 2002 to the fourth quarter 2003. During the same period claims incurred increased by 3.9 per cent.

Life insurance. Balance sheet. NOK million
 
 4th quarter 20034th quarter 2002
 
Total assets 467 805 430 300
Investments in subsidiaries and other
shares, participation and primary capital
certificates		88 07262 966
Holdings of bonds 248 535 217 656
Holdings of certificates36 95750 421
 

Total assets for life insurance companies increased by 8.7 per cent from 2002 to 2003. 18.8 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. The corresponding figure for 2002 was 14.6 per cent. 53.1 per cent of total assets consisted of bonds, while certificates amounted to 7.9 per cent by the end of 2003.

Non-life insurance. Profit and loss account.NOK million
 
 4th quarter 20034th quarter 2002
 
Earned premiums35 68233 045
Claims incurred26 37725 851
Profit/loss of ordinary activities5 997-1 073
   
Net income from financial assets7 858 723
Profit/loss of the technical account1 0683 235
 

Non-life insurance

Profit of ordinary activities for non-life insurance companies saw a positive development in 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 8 per cent, while claims incurred increased by only 2 per cent from 2002 to 2003.

Non-insurance. Balance sheet. NOK million
 
 4th quarter 20034th quarter 2002
 
Total assets 106 72097 995
Investments in subsidiaries and
other shares, participation and
primary capital certificates		14 30910 764
Holdings of bonds28 16528 890
Holdings of certificates13 5378 809
 

Total assets for non-life insurance companies increased by 8.9 per cent from the fourth quarter 2002 to the fourth quarter 2003. 13.4 per cent of total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates in 2003. The corresponding figure for 2002 was 11 per cent. 26.4 per cent of total assets consisted of bonds, while certificates made up 12.7 per cent by the end of 2003.

 

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