Life and non-life insurance companies, accounts, 2010

Life insurance

The total profit for the life insurance industry amounted to NOK 4.9 billion in 2010. The value adjusted result achieved a profit of NOK 26.6 billion. The profit before tax and allocation to customers was NOK 12.6 billion. The strong result was mainly due to the net income from financial assets. Net income from financial assets increased by NOK 3.9 billion. Gross premiums increased by 7 per cent, while claims increased by a total of 13 per cent.

Total assets increased by NOK 68 billion in 2010. Total assets amounted to NOK 862 billion by the end of 2010. The stock of investments in subsidiaries and other shares, participation and primary capital certificates increased by NOK 91.6 billion, and amounted to 43 per cent of total assets. The holdings of bonds and certificates decreased by 2 per cent. As a share of the total assets, bonds and certificates decreased by 5 per cent, and amounted to 46 per cent.

Non-life insurance

The total profit for the non-life insurance industry amounted to NOK 9.8 billion during 2010. The profit from ordinary activities had a growth of NOK 1.2 billion during 2010. The increase was mainly due to an improvement in earned premiums. The earned premiums increased by 2 per cent compared to 2009, while the claims incurred were at the same level as last year.

Total assets increased by 5 per cent. Investments in subsidiaries and other shares, participation and primary capital certificates amounted to 23 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; the same level as in 2009.