4767_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4767
Increased earned premiums in life insurance
statistikk
2004-12-02T10:00:00.000Z
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 2004

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Increased earned premiums in life insurance

Earned premiums in life insurance have increased. At the same time the net income from financial assets is far lower compared with the first tree quarter of 2003.

 Life insurance. Profit and loss account. NOK million
 
 3rd quarter 20043rd quarter 2003
 
Earned premiums, exclusive of transfers to other companies40 06128 241
Claims incurred18 71917 082
Profit/loss before tax and allocation to customers8 1696 667
   
Net income from financial assets20 08923 567
Value-adjusted profit/loss8 06511 595
 

Life insurance: Weaker earnings form financial assets in life insurance

The results of the life insurance companies depend to a large extent of the development in the security market. Despite the growth on the Norwegian stock exchange, the net income form financial assets are reduced by NOK 3.5 billion. This is a 15 per cent reduction compared with the same period last year.

The earned premiums were NOK 40 billion in the first tree quarters of 2004, an increase of about 40 per cent compared with last year.

Profit before tax and allocations to customers is 8.1 billion. The revaluation reserve is NOK 80 million, this gives a reduction of the value-adjusted profit. The value-adjusted profits are NOK 8 billion for the tree first quarters in 2004, compared to NOK 11.5 billion for the same period in 2003.

 Life insurance. Balance sheet. NOK million
 
 3rd quarter 20043rd quarter 2003
 
Total assets 523 809 461 313
Investments in subsidiaries and other shares, participation and primary capital certificates 121 83981 421
Holdings of bonds 277 160 248 710
Holdings of certificates22 83937 096
 

Total assets for life insurance are NOK 524 billion for the tree first quarters in 2004. This is an increase of 13.5 per cent. Investments in subsidiaries and other shares, participation and primary capital certificates are NOK 122 billion, 23.3 per cent of the total assets.

 Non-life insurance. Profit and loss account. NOK million
 
 3rd quarter 20043rd quarter 2003
 
Earned premiums28 54527 330
Claims incurred18 77119 735
Profit/loss of ordinary activities4 0293 006
   
Net income from financial assets2 4854 456
Profit/loss of the technical account3 333 927
 

Non-life insurance: Reduced income from financial assets - improved profit of technical account

The non-life insurance companies had a profit of ordinary activities of NOK 4 billion, which is NOK 1 billion more than after the third quarter last year. A considerable higher profit of the technical account compensated for the 44.2 per cent decrease in net income from the financial assets.

 Non-insurance. Balance sheet. NOK million
 
 3rd quarter 20043rd quarter 2003
 
Total assets 112 791 108 754
Investments in subsidiaries and other shares, participation and primary capital certificates17 24513 441
Holdings of bonds32 74527 337
Holdings of certificates15 24114 874
 

Total assets for the non-life insurance industry are NOK 113 billion. 15.3 per cent of the total assets consisted of investments in subsidiaries and other shares, participation and primary capital certificates. This is an increase by 28.3 percent compared with the third quarter of 2003.

 

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