19742_not-searchable
/en/bank-og-finansmarked/statistikker/forsikring/arkiv
19742
Stronger results for insurance
statistikk
2010-12-21T10:00:00.000Z
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, 2009

Variants of the statistics:

Content

Published:

This is an archived release.

Go to latest release

Stronger results for insurance

Non-life and life insurance companies’ profits for 2009 show a considerable improvement compared to 2008. The main reason for the improved result is the increase in the net income from financial assets.

Asset allocation: Non-life insurance companies. NOK million

Asset allocation: Life insurance companies. NOK million

The total profit for the life insurance industry amounted to NOK 4.1 billion in 2009. The value adjusted result achieved a profit of NOK 21.2 billion. The profit before tax and allocation to customers was NOK 4.1 billion. The strong result was mainly due to the net income from financial assets. Net income from financial assets increased from a loss of NOK -24.2 billion in 2008 to a profit of NOK 50.1 billion in 2009. Gross premiums decreased by 6 per cent while claims sank by a total of 29 per cent.

Total assets increased by NOK 55.1 billion in 2009. Total assets amounted to NOK 794 billion by the end of 2009. The stock of investments in subsidiaries and other shares, participation and primary capital certificates increased by NOK 44.1 billion, and amounted to 35 per cent of total assets. The holdings of bonds and certificates increased by 3 per cent. As a share of the total assets, bonds and certificates decreased by 2 per cent, and amounted to 51 per cent.

Non-life insurance

The total profit for the non-life insurance industry amounted to NOK 7.3 billion during 2009. The profit from ordinary activities had a growth of NOK 7.8 billion during 2009. The increase was mainly due to an improvement in net profit from financial assets. Net income from financial assets increased from NOK -0.3 billion to NOK 9 billion during 2009. The earned premiums increased by 2 per cent compared to 2008, while the claims incurred increased by 6 per cent during the same period.

Total assets increased by 3 per cent. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 21 per cent of the total assets; an increase of 2 per cent. The holdings of bonds and certificates amounted to 40 per cent of the total assets; a 2 per cent increase compared to 2008.

From January 2008, new annual account regulations for insurance companies adapted to the new International Financial Reporting Standards (IFRS) were introduced. New regulations for life insurance were introduced at the same time. Both changes have had an impact on the content and presentation of the insurance statistics. The statistics from 2008 cannot be compared with those from previous years.

 

Tables

Published tables

Decrease in earned premiums for occupational pensionOpen and readClose

Earned premiums decreased by 8.4 per cent in 2009 compared to 2008. The main reason was a decrease in earned premiums for life insurance companies of 9.9 per cent.

Pension payments for occupational pension were NOK 44 billion in 2009, an increase of 1.4 per cent compared to 2008. Norwegian Public Service Pension Fund had the largest increase, with a rise of 6.1 per cent.

Pension liabilities increased from NOK 998 billion in 2008 to NOK 1069 billion in 2009. This is an increase of 7.1 per cent. Life insurance companies had the largest increase, with a rise of 9.8 per cent.

Payments 2009

Tables

Tabell 11 Occupational pension and individual pension. NOK million