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4735
Solid profits for insurance companies
statistikk
2007-12-05T10:00:00.000Z
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, Q3 2007

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Solid profits for insurance companies

Life insurance companies achieved NOK 2.2 billion in period result in the third quarter of 2007, an increase of NOK 1.1 billon compared to the same period last year. This is the 16th quarter with positive period results for the life insurance companies.

Life insurance. Profit and loss account. NOK million
 
 3rd quarter 20073rd quarter 2006
 
Earned premiums, exclusive of transfers to other companies61 90749 648
Claims incurred54 50435 611
Profit/loss before tax and allocation to customers24 98011 254
   
Net income from financial assets39 50125 806
Value-adjusted profit/loss21 69611 664
 

The life insurance companies achieved a profit of NOK 9.1 billion after tax during the three first quarters of 2007, which equals an increase of NOK 3.6 billion or 65 per cent since the same period last year. An increase in unrealized gains in land and building is the main cause of the profit. Earned premiums grew 25 per cent or NOK 12.2 billion compared to the same period last year. During the same period claims paid increased by 53 per cent, or NOK 18.9 billion.

Life insurance. Balance sheet. NOK million
 
 3rd quarter 20073rd quarter 2006
 
Total assets 722 692 647 425
Investments in subsidiaries and other shares, participation and primary capital certificates 248 122 207 890
Holdings of bonds 298 787 315 455
Holdings of certificates16 14618 073
 

Assets increased

Total assets increased by NOK 17 billion since the third quarter of 2006. This equals a 2 per cent growth, which is 1 percentage point higher than last year growth. Investments in subsidiaries and other shares, participation and primary capital certificates made up 34 per cent, while bonds made up 41 per cent of total assets. This is a reduction of respectively 4 percentage points and 1 percentage points compared to the second quarter of 2007.

Non-life insurance. Profit and loss account. NOK million
 
 3rd quarter 20073rd quarter 2006
 
Earned premiums33 74731 441
Claims incurred23 92922 187
Profit/loss of ordinary activities5 2995 502
   
Net income from financial assets4 9623 913
Profit/loss of the technical account4 1344 258
 

Profit in non-life insurance

Non-life insurance companies achieved a period result of NOK 1.5 billion during the third quarter of 2007. This is the 11th successive quarter with positive profit. The achieved profit for the three first quarters of 2007 was NOK 4.2 billion, a decrease of NOK 1 billion compared to the same quarters in 2006. The earned premiums increase with NOK 2.3 billion compared to the third quarter of 2006, while the paid claims increase with NOK 1.7 billion compared to the same period.

Non-insurance. Balance sheet. NOK million
 
 3rd quarter 20073rd quarter 2006
 
Total assets 167 767 140 652
Investments in subsidiaries and other shares, participation and primary capital certificates42 30828 348
Holdings of bonds44 85447 731
Holdings of certificates9 53812 860
 

Total assets decreased by NOK 1.2 billion since the second quarter of 2007. Investments in subsidiaries and other shares, participation and primary capital certificates made up 25 per cent, while bonds made up 26 per cent of total assets. This is an increase of 1 percentage points for both, compared to the second quarter of 2007.

 

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