4771_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4771
Continued positive results in insurance
statistikk
2004-06-03T10:00:00.000Z
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 2004

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Continued positive results in insurance

Net income from financial assets continued to increase in the first quarter of 2004 as they did in 2003. Earned premiums increased more than claims incurred, which also contributed positive to the results.

Life insurance. Profit and loss account. NOK million
 
 1st quarter 20041st quarter 2003
 
Earned premiums, exclusive of transfers to other companies15 32311 619
Claims incurred8 9108 598
Profit/loss before tax and allocation to customers2 824 910
   
Net income from financial assets10 0934 685
Value-adjusted profit/loss5 505 947
 

Life insurance

The Life insurance companies profit is to a great extent dependent on the development in the financial markets. The value-adjusted profit takes into consideration the unrealized profit from the financial markets. The value-adjusted profit was NOK 5 billion the first quarter of 2004, which is an increase from NOK 947 million the same quarter the year before.

Earned premiums - exclusive of transfers to other companies - increased by 32 per cent from the first quarter 2003 to the first quarter 2004. During the same period claims incurred increased by 4 per cent.

Life insurance. Balance sheet. NOK million
 
 1st quarter 20041st quarter 2003
 
Total assets 499 166 440 171
Investments in subsidiaries and other shares,
participation and primary capital certificates		 109 80364 376
Holdings of bonds 269 780 230 511
Holdings of certificates22 61548 570
 

Total assets for life insurance companies increased by 13.4 per cent from the first quarter of 2003 to the first quarter of 2004. 22 per cent of total assets consisted of investments in shares, participation and primary capital certificates. The corresponding figure for first quarter of 2003 was 14.6 per cent. 54 per cent of total assets consisted of bonds. Certificates as a percentage of total assets was reduced from 11 per cent in the first quarter of 2003 to 4.5 per cent in the first quarter of 2004. The changes arise from low interests rates and a rise in stock marked.

Non-life insurance. Profit and loss account. NOK million
 
 1st quarter 20041st quarter 2003
 
Earned premiums9 3519 067
Claims incurred6 4606 791
Profit/loss of ordinary activities1 147-150
   
Net income from financial assets1 390 986
Profit/loss of the technical account 141-278
 

Non-life insurance

The non-life insurance companies had a profit of ordinary activities on NOK 1.4 billion the first quarter of 2004. The corresponding number from last year was a NOK 150 million deficit.

The improved result is due to increased result from net financial assets, but also as a result for increased premiums and a reduction on claims.

Non-insurance. Balance sheet. NOK million
 
 1st quarter 20041st quarter 2003
 
Total assets 115 677 105 119
Investments in subsidiaries and other shares,
participation and primary capital certificates		15 75711 751
Holdings of bonds34 94427 678
Holdings of certificates12 07711 634
 

Total assets for non-life insurance companies increased by 10 per cent from the first quarter 2003 to the first quarter 2004. There were minor changes in the allocation between investments shares, bonds and certificates from the first quarter of 2003 to the first quarter of 2004.

 

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