19728_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
19728
Continued high profits in the insurance industry
statistikk
2008-12-18T10:00:00.000Z
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, 2007

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Continued high profits in the insurance industry

2007 was a profitable year for both life and non-life insurance companies. Life insurance experienced an increase in profits in 2006, while non-life insurance experienced some decline in profits.

Asset allocation: Life insurance companies. NOK million

Asset allocation: Non-life insurance companies. NOK million

Life insurance

The profit for the life insurance industry was 53 per cent higher in 2007 than in the previous year, and amounted to NOK 7.3 billion. The profit before tax and allocation to customers was NOK 17.8 billion. The increase in profit is a consequence of increased investment income and increased gains on financial assets. Gross premiums increased by 10 per cent while claims increased by a total of 49 per cent.

Total assets increased by NOK 63.5 billion in 2007, which is an increase of 9 per cent. Total assets amounted to NOK 742 billion by the end of 2007. The stock of investments in subsidiaries and other shares, participation and primary capital certificates increased by NOK 50 billion, and amounted to 43 per cent of the total assets. This is a 9 per cent increase from 2006. The holdings of bonds decreased by 6 per cent, while the holdings of certificates decreased by 8 per cent. As a share of the total assets, the bonds decreased by 6 per cent, and amounted to 39 per cent. The certificates as a share of the total assets remained unchanged.

Non-life insurance

The profit for the non-life insurance industry amounted to NOK 3.3 billion, which is a 61 per cent decrease since 2006. The decrease in profit is, among other things, a consequence of lower earned premiums and higher claims. The earned premiums decreased by 3 per cent compared to 2006, while the claims increased by 2 per cent during the same period. Investment income increased by 19 per cent during 2007.

Total assets for the non-life insurance industry increased by 17 per cent. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 39 per cent of the total assets; a decrease of 16 per cent. The holdings of bonds amount to 26 per cent of the total assets; a 6 per cent decrease compared to 2006. The non-life insurance industry has reduced its holdings of certificates from a 7 per cent share of total assets in 2006 to a 5 per cent share of the total assets in 2007.

Tables

Published tables