Life and non-life insurance companies, accounts, Q4 2009

Life insurance companies achieved a value-adjusted profit of NOK 21.2 billion; an increase of NOK 48 billion compared with 2008. Profit before tax and allocation to customers resulted in NOK 9.7 billion; an improvement of NOK 9.2 billion from last year. The strong result was mainly due to the improvement of NOK 72.3 billion from net income from financial assets. While the earned premium for life insurance companies decreased by NOK 4.7 billion, the claims incurred were reduced by NOK 19.8 billion from 2008 to 2009.

Increased holdings of shares, participation and primary capital certificates

Total assets for life insurance increased by NOK 54.5 billion from 2008 to 2009. The holdings of subsidiaries and other shares, participation and primary capital certificates as a percentage share of total assets, increased by 3 per cent from 2008 to 2009. Bonds and certificates made up 51 per cent of total assets; a decrease from 53 per cent in the final quarter of 2008.

Solid increase in the result for non-life insurance

The non-life insurance industry achieved a preliminary profit of NOK 9.2 billion; an increase of NOK 7.7 billion compared to 2008. The profit on ordinary activities amounted to NOK 11.4 billion in the fourth quarter of 2009. One of the main sources of this result is the NOK 9.1 billion increase in the net income from financial assets in the last year. The profit of the technical account decreased by 24 per cent.

Total assets in the non-life insurance industry improved by NOK 3.9 billion when comparing the fourth quarter of 2009 with the corresponding quarter in 2008. Investments in subsidiaries and other shares, participation and primary capital certificates made up 21 per cent of the total assets. The holdings of bonds and certificates increased by 5 per cent. Bonds and certificates made up 39 per cent of total assets in the fourth quarter of 2009; an increase of 1 per cent compared to 2008.

Tables

Published tables