Life and non-life insurance companies, accounts, 2005

The profit for the life insurance industry was 24 per cent better in 2005 than in the previous year, and amounted to NOK 3.9 billion. The profit before tax and allocation to customers was NOK 12 billion. The investment income declined compared with 2004, while the gains on the financial assets increased. It was specially the shares, participations and primary capital certificates which were the cause of the increase. The gross premiums and claims increased by 12 and 16 per cent.

The total assets rose by NOK 72 billion in 2005, which was an increase by 13 per cent. The total assets amounted to NOK 609 billion by the end of 2005. The stock of investments in subsidiaries and other shares, participation and primary capital certificates went up by NOK 44 billion, and amounted to 29 per cent of the total assets. This was a 4 percentage point increase since 2004. The holdings of bonds rose by 6 per cent, while the holdings of certificates increased by 13 per cent. As a share of the total assets, the bonds decreased by 3 percentage pointes, and amounted to 47 per cent. The certificates as a share of the total assets were the same as in 2004, and amounted to 6 per cent.

Non-life insurance

The profit for the non-life insurance industry amounted to NOK 7.4 billion,which was a considerable increase since 2004. Both the earned premiums and claims incurred increased during 2005, by 6 and 7 per cent. While the claims incurred were the same as in 2003, the earned premiums increased by NOK 4 billion during the same period. The gains form the financial assets have also increased for the non-life insurance companies during 2005, more accurate by NOK 3.7 billion.

During 2005, the total assets for the non-life insurance industry increased by 12 per cent. This is the largest increase during the last six years. The total assets has since 2000 increased by 37 per cent, which equals NOK 35 billion.

The holdings of subsidiaries and other shares, participation and primary capital certificates increased by 73 per cent since 2004, and amounted to 22 per cent of the total assets in 2005. This was an 8 percentage point increase, and it was especially the stock of subsidiaries and other shares, participation and primary capital certificates abroad and in non-financial enterprises which has increased. The holding of bonds was the biggest stock of the total assets, and the value of this holding has increased by 25 per cent since 2004. The holding of bonds amounted to 30 per cent of the total assets by the end of 2005. The value of all the certificates decreased during the year, and amounted to NOK 16 billion, a reduction of the value of the holdings of certificates by 18 per cent since 2004. As a share of the total assets, the certificates amounted to 12 per cent in 2005, which equalled a 5 percentage pointes reduction.

Tables

Published tables