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4759
Falling profit in life insurance
statistikk
2005-09-08T10:00:00.000Z
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, Q2 2005

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Falling profit in life insurance

Life insurance companies saw profit fall in the second quarter of 2005 due to low investment income as a result of the low interest rate. Earned premiums are still on the increase in the insurance industry.

Life insurance. Profit and loss account. NOK million
 
 2nd quarter 20052nd quarter 2004
 
Earned premiums, exclusive of transfers to other companies29 28524 389
Claims incurred13 38611 587
Profit/loss before tax and allocation to customers6 2956 240
   
Net income from financial assets17 25013 952
Value-adjusted profit/loss8 6526 323
 

Life insurance: Improved value-adjusted result

Earned premiums exclusive of transfers to other companies increased by 20.1 per cent to NOK 29 billion in the second quarter of 2005.

Profit before tax and allocation to customers was NOK 6.3 billion. This is an increase of 0.9 per cent from the same period last year.

The value-adjusted result rose by 37 per cent compare to last year to NOK 8.7 billion.

Life insurance. Balance sheet. NOK million
 
 2nd quarter 20052nd quarter 2004
 
Total assets 567 595 507 624
Investments in subsidiaries and other shares, participation and primary capital certificates 146 243 111 345
Holdings of bonds 278 183 277 582
Holdings of certificates39 28125 286
 

Total assets in life insurance were NOK 568 billion at the end of the second quarter. This is an increase of 11.8 per cent. Investments in subsidiaries and other shares, participation and primary capital certificates stood at NOK 146 billion, or 26 per cent of total assets. Bonds accounted for 49 per cent of the total assets, while certificates accounted for 6.9 per cent at the end of the second quarter.

Non-life insurance. Profit and loss account. NOK million
 
 2nd quarter 20052nd quarter 2004
 
Earned premiums20 30419 706
Claims incurred13 30612 939
Profit/loss of ordinary activities4 7222 098
   
Net income from financial assets3 6401 716
Profit/loss of the technical account2 3371 647
 

Non-life: Improved technical account profit

The technical result, which includes income and costs related to insurance activities, came to NOK 2.3 billion in the second quarter of 2005, an increase of NOK 690 million from the second quarter of 2004. Earned premiums and claims incurred developed positively.

The profit on ordinary activities increased by 125 per cent to NOK 4.7 billion.

Non-insurance. Balance sheet. NOK million
 
 2nd quarter 20052nd quarter 2004
 
Total assets 128 041 114 939
Investments in subsidiaries and other shares, participation and primary capital certificates19 49516 492
Holdings of bonds37 89631 480
Holdings of certificates18 84113 799
 

Total assets in non-life insurance stood at NOK 128 billion at the end of the second quarter. This is an increase of 11.4 per cent compared with last year.

 

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