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84348
Strong results for non-life insurance
statistikk
2012-08-28T10:00:00.000Z
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, Q2 2012

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Strong results for non-life insurance

Non-life insurance companies had significantly improved profits in the 1st half of 2012 compared to the same period last year. This is mainly due to an increase in the net value on financial assets.

Life insurance companies achieved a value-adjusted profit of NOK 10 billion in the first six months of 2012; an increase of NOK 2.6 billion compared with the corresponding period in 2011. The main reason for this is the net increase in value for financial assets. The financial income amounted to NOK 15.7 billion, a decline of 10 per cent in one year. Profit totalled NOK 2.4 billion; a decrease of 22 per cent compared to the same period in 2011.

Life insurance. Profit and loss account. NOK million
 
 1st-2nd quarter 20121st-2nd quarter 2011
 
Earned premiums, exclusive of transfers to other companies48 90142 770
Claims incurred27 71528 929
Profit/loss before tax and allocation to customers5 24612 052
   
Net income from financial assets24 69416 911
Value-adjusted profit/loss10 0097 390
 

Increase in bonds and certificates for life insurance

Life insurance companies’ total assets increased by 7 per cent compared to the corresponding quarter last year. The holding of shares and primary capital certificates as a percentage share of total assets was 42 per cent, a decline of 4 percentage points from the previous year. Bonds and certificates made up 47 per cent of total assets; an increase of 4 per cent from last year.

Life insurance. Balance sheet. NOK million
 
 2nd quarter 20122nd quarter 2011
 
Total assets 955 367 895 933
Investments in subsidiaries and other shares, participation and primary capital certificates 401 729 411 015
Holdings of bonds and certificates 451 807 383 305
 

Growth in earned premiums for non-life insurance

Non-life insurance companies’ financial income decreased by 26 per cent compared with the first six months last year. The main reason was that share of profits and interest earnings decreased. The profit of ordinary activities amounted to NOK 6.7 billion. The profit of the technical account increased by NOK 1.9 billion. The earned premiums increased by 7 per cent in one year.

Non-life insurance. Profit and loss account.NOK million
 
 1st-2nd quarter 20121st-2nd quarter 2011
 
Earned premiums27 88426 108
Claims incurred19 29219 484
Profit/loss of ordinary activities6 6973 886
   
Net income from financial assets3 5592 992
Profit/loss of the technical account4 2872 343
 

Decrease in shares and primary capital certificates for non-life insurance companies

Investments in shares, participation and primary capital certificates decreased by 19 per cent compared to last year. As a percentage of total asset investments in shares, participations, primary capital certificates and shares in securities, funds amounted to 21 per cent compared to the same period last year. Bonds and certificates as a share of total assets amounted to 41 per cent of total assets, an increase of 2 percentage points.

Non-insurance. Balance sheet. NOK million
 
 2nd quarter 20122nd quarter 2011
 
Total assets 199 833 191 563
Investments in subsidiaries and other shares, participation and primary capital certificates41 08042 507
Holdings of bonds and certificates81 80475 012
 

 

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