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4753
Solid profits for insurance companies
statistikk
2006-03-09T10:00:00.000Z
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 2005

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Solid profits for insurance companies

Both life and non-life insurance companies achieved solid profits in 2005. Income increased from the financial assets and increased total assets mostly due to strong development in the stock exchanges during 2005.

Life insurance. Profit and loss account. NOK million
 
 4th quarter 20054th quarter 2004
 
Earned premiums, exclusive of transfers to other companies61 35154 996
Claims incurred29 15625 376
Profit/loss before tax and allocation to customers11 2039 928
   
Net income from financial assets44 18132 150
Value-adjusted profit/loss23 75015 229
 

Life insurance

The life insurance companies had a value-adjusted profit of NOK 23.8 billion in 2005, which equals an increase of 56 per cent since 2004. NOK 8.2 billion of the value-adjusted profit are transfers to the revaluation reserve and NOK 5.6 billion is technical provision to customers. The net income from financial assets has increased by 37 per cent from 2004 to 2005. The earned premiums and the claims incurred have increased by 12 and 15 per cent respectively since 2004.

Life insurance. Balance sheet. NOK million
 
 4th quarter 20054th quarter 2004
 
Total assets 608 274 536 972
Investments in subsidiaries and other shares,
participation and primary capital certificates		 176 856 134 546
Holdings of bonds 287 701 269 761
Holdings of certificates38 32533 927
 

Total assets have increased by 13 per cent since 2004, which is equivalent to an increase of NOK 71 billion. The total assets amounted to NOK 608.2 billion by the end of 2005. The total value of the securities has increased, especially investments in subsidiaries and other shares, participation and primary capital certificates, which has increased by 31 per cent since 2004, and 11 per cent since the third quarter in 2005. The securities shares of the total assets are relatively stable, with a small movement from bonds to investments in subsidiaries and other shares, participation and primary capital certificates.

Non-life insurance. Profit and loss account. NOK million
 
 4th quarter 20054th quarter 2004
 
Earned premiums40 14537 994
Claims incurred27 11525 622
Profit/loss of ordinary activities7 7732 523
   
Net income from financial assets7 2673 674
Profit/loss of the technical account3 109 955
 

Non-life insurance

Non-life insurance has improved profits of ordinary activities and profits of the technical account by 208 and 226 per cent respectively since 2004. The net income from the financial assets has increased by 98 per cent during the same period, and came to NOK 7.2 billion. Both the earned premiums and the claims incurred increased by 6 per cent since 2004.

Non-insurance. Balance sheet. NOK million
 
 4th quarter 20054th quarter 2004
 
Total assets 131 321 117 159
Investments in subsidiaries and other shares,
participation and primary capital certificates		27 13716 328
Holdings of bonds39 81731 292
Holdings of certificates16 35719 788
 

Total assets for the non-life insurance companies increased by 12 per cent during 2005, which equals an increase of NOK 14 billion. Bonds amounted to 30 per cent of the total assets, while the holdings of certificates equalled 12 per cent at the end of 2005. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 21 per cent of the total assets, which is an increase by 7 percentage points since 2004. Since the third quarter of 2005 the proportion of investments in subsidiaries and other shares, participation and primary capital certificates has increased by 23 per cent.

 

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