4751_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
4751
Solid profits for insurance companies
statistikk
2006-06-08T10:00:00.000Z
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, Q1 2006

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Solid profits for insurance companies

Both life and non-life insurance companies achieved profits during the first quarter of 2006, but the non-life companies had a weaker profit compared to the first quarter of 2005.

Life insurance. Profit and loss account. NOK million
 
 1st quarter 20061st quarter 2005
 
Earned premiums, exclusive of transfers to other companies18 74017 444
Claims incurred8 1456 617
Profit/loss before tax and allocation to customers4 5013 433
   
Net income from financial assets15 6636 938
Value-adjusted profit/loss9 7112 567
 

The life insurance companies achieved an after tax profit of NOK 1.6 billion during the first quarter of 2006, an increase of 73 per cent since the same period last year. The life insurance companies have also transferred NOK 5.3 billion to the revaluation reserve, compared with NOK 0.8 entered as income in the first quarter of 2005. The increased gains for investments in subsidiaries and other shares, participation and primary capital certificates and the unrealized gains are the main reasons for the profit.

Life insurance. Balance sheet. NOK million
 
 1st quarter 20061st quarter 2005
 
Total assets 634 693 553 428
Investments in subsidiaries and other shares,
participation and primary capital certificates		 193 333 138 432
Holdings of bonds 298 961 275 931
Holdings of certificates35 23737 054
 

The total assets have increased by 15 per cent since last year, and 4 per cent since the end of 2005. The share of the investments in subsidiaries and other shares, participation and primary capital certificates of the total assets has increased by 5 percentage points since the same period last year, and amounts to 30 per cent of the total assets. The stock of certificates is reduced, both in value and as a share of the total assets, both since the end of 2005 and since the first quarter of 2005.

Lower profit

Non-life insurance. Profit and loss account. NOK million
 
 1st quarter 20061st quarter 2005
 
Earned premiums15 25315 294
Claims incurred6 2625 929
Profit/loss of ordinary activities1 8222 825
   
Net income from financial assets1 8682 169
Profit/loss of the technical account 7141 247
 

The non-life insurance companies achieved a 27 per cent lower profit during the first quarter of 2006 compared with 2005, but the total profit still amounted to NOK 1.9 billion. The interest income were considerably higher this quarter than in the first quarter of 2005, while the gains of the financial assets are more than NOK one billion lower than in 2005. The technical account achieved a 43 per cent lower profit than last year, and amounted to NOK 714 million, compared to NOK 1.2 billion last year. The reason for this could be the unchanged premium income, while the claims incurred has increased by 6 per cent.

Non-insurance. Balance sheet. NOK million
 
 1st quarter 20061st quarter 2005
 
Total assets 138 920 124 121
Investments in subsidiaries and other shares,
participation and primary capital certificates		30 66117 847
Holdings of bonds44 01735 375
Holdings of certificates13 35317 795
 

The total assets have increased by 6 per cent since the end of 2005, and 12 per cent since the first quarter of 2005. The value of the certificates is reduced by 18 per cent since the fourth quarter of 2005, probably due to the low interest rate. The share of the certificates of the total assets is also reduced, while the bonds and the investments in subsidiaries and other shares, participation and primary capital certificates has stayed constant since the end of 2005.

 

Tables

Published tables