4763_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4763
Increase in earned premiums
statistikk
2005-03-11T10:00:00.000Z
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 2004

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Increase in earned premiums

A positive growth in earned premiums in life insurance resulted in good results for the insurance industry in the fourth quarter of 2004. However, the net income from financial assets was far lower than in 2003.

Life insurance. Profit and loss account. NOK million
 
 4th quarter 20044th quarter 2003
 
Earned premiums, exclusive of transfers to other companies52 85842 450
Claims incurred24 26921 607
Profit/loss before tax and allocation to customers9 3915 945
   
Net income from financial assets31 15434 533
Value-adjusted profit/loss14 69317 043
 

Life insurance: reduced earnings form financial assets

Earned premiums exclusive of transfers to other companies increased by 30 per cent to NOK 52.9 billion in 2004, while claims incurred increased by 13.8 per cent to NOK 24.3 billion.

Profit before tax and allocation to customers was NOK 9.4 billion. This is an increase of 28.6 per cent from 2003.

Life insurance. Balance sheet. NOK million
 
 4th quarter 20044th quarter 2003
 
Total assets 534 988 477 821
Investments in subsidiaries and other shares,
participation and primary capital certificates		 132 20895 702
Holdings of bonds 269 702 248 832
Holdings of certificates33 92737 010
 

Total assets in life insurance were NOK 535 billion in 2004. This is an increase of 12 per cent. Investments in subsidiaries and other shares, participation and primary capital certificates stood at NOK 132 billion, 24.7 per cent of total assets.

Non-life insurance. Profit and loss account.
NOK million
 
 4th quarter 20044th quarter 2003
 
Earned premiums38 23036 156
Claims incurred25 36226 794
Profit/loss of ordinary activities2 8336 010
   
Net income from financial assets3 6527 891
Profit/loss of the technical account1 4271 222
 

Non-life: reduced income from financial assets - improved technical account profit

The technical result includes income and costs directly related to insurance activities. In 2004, the technical account profit was NOK 3.3 billion, an increase by NOK 2.3 billion from 2003. Earned premiums developed positively while claims incurred fell by NOK 1.9 billion, or 7 per cent.

The profit on ordinary activities was NOK 2.3 billion, which is NOK 3.3 billion lower than in 2003. The decline is due to lower net income from financial assets.

Non-insurance. Balance sheet. NOK million
 
 4th quarter 20044th quarter 2003
 
Total assets 116 240 105 690
Investments in subsidiaries and other shares,
participation and primary capital certificates		15 75314 723
Holdings of bonds31 82128 127
Holdings of certificates19 82913 426
 

Total assets for the non-life insurance industry were NOK 116 billion, of which 13.6 per cent were investments in subsidiaries and other shares, participation and primary capital certificates. This is an increase of 7 per cent compared with 2003.

 

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