19730_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
19730
Increasing profits in the insurance industry
statistikk
2007-11-22T10:00:00.000Z
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, 2006

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Increasing profits in the insurance industry

Both life and none-life insurance industry companies increased their profits in 2005. Profits in life insurance saw the highest rise at 24 per cent.

The profit for the life insurance industry was 24 per cent better in 2006 than in the previous year, and amounted to NOK 4.8 billion. The profit before tax and allocation to customers was NOK 14 billion. The increase in profit is a consequence of increased investment income, decreased net change in technical provisions and increased gains on financial assets. The gross premiums and claims increased by 6 and 32 per cent.

Asset allocation: Life incurance companies. NOK million

Asset allocation: Non-life insurance companies. NOK million

The total assets increased by NOK 69 billion in 2006, which is an increase by 11 per cent. The total assets amounted to NOK 679 billion by the end of 2006. The stock of investments in subsidiaries and other shares, participation and primary capital certificates increased by NOK 54 billion, and amounted to 34 per cent of the total assets. This is a 5 percentage point increase from 2005. The holdings of bonds increased by 8 per cent, while the holdings of certificates decreased by 56 per cent. As a share of the total assets the bonds decreased by 1 percentage pointes, and amounted to 46 per cent. The certificates as a share of the total assets decreased to 2 per cent.

Non-life insurance

The profit for the non-life insurance industry amounted to NOK 8.1 billion, which is a 14 per cent increase since 2005. The increase in profit is a consequence of higher earned premium, higher investment income and reduced net change in technical provisions. The earned premiums increased with 5 per cent compared to 2005 while the claims incurred increased by 4 per cent during the same period. Investment income increased with 21 per cent compared to 2005.

Also for the non-life insurance industry the total assets increased, more precisely by 6 per cent. The total value of securities increased with 4 per cent. The holdings of bonds amounts to 32 per cent of the total assets, a 2 per cent increase compared to 2005. The non-life insurance industry has reduced its holdings of certificates from a 12 per cent share of total assets in 2005 to a 6 per cent share of the total assets in 2006. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 23 per cent of the total assets, and increased its value by 17 per cent.

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