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4721
Insurance companies reducing exposure to stock market
statistikk
2009-06-12T10:00:00.000Z
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, Q1 2009

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Insurance companies reducing exposure to stock market

Due to the uncertainty in the stock market and the decrease in the risk of loss, the non-life and life insurance companies have reduced their holdings of shares, whilst increasing their holdings of bonds.

The value-adjusted profit for life insurance companies achieved a preliminary deficit of NOK 1.4 billion; an increase of NOK 14.3 billion compared with the first quarter of 2008. This was mainly due to the improvement in the net income from financial assets of NOK 16.3 billion.

The earned premium for life insurance companies decreased by 4 per cent from the first quarter of 2008 to the corresponding quarter in 2009.

Life insurance. Profit and loss account. NOK million
 
 1st quarter 20091st quarter 2008
 
Earned premiums, exclusive of transfers to other companies24 52025 579
Claims incurred14 06119 164
Profit/loss before tax and allocation to customers-1 420 231
   
Net income from financial assets1 323-14 985
Value-adjusted profit/loss-1 432-15 754
 

Total assets decreased by NOK 2.8 billion compared with the first quarter of 2008. Investments in subsidiaries and other shares, participation and primary capital certificates made up 30 per cent of total assets; a decrease of 9 per cent compared to the corresponding quarter last year. Bonds made up 50 per cent; an increase from 41 per cent compared with the first quarter of 2008.

Life insurance. Balance sheet. NOK million
 
 1st quarter 20091st quarter 2008
 
Total assets 737 622 740 393
Investments in subsidiaries and other shares, participation and primary capital certificates 224 658 285 454
Holdings of bonds 366 627 301 795
Holdings of certificates42 07227 348
 

The non-life insurance industry achieved a preliminary profit of NOK 324 million in the first quarter of 2009. This is an increase of NOK 910 million compared with the corresponding quarter of 2008. At the same time, the net income from financial assets amounts to NOK 301 million, which is an increase of NOK 1.4 billion.

The earned premiums increased by four per cent, while the claims incurred increased by five per cent.

Non-life insurance. Profit and loss account.NOK million
 
 1st quarter 20091st quarter 2008
 
Earned premiums12 51812 039
Claims incurred8 7428 364
Profit/loss of ordinary activities 324-586
   
Net income from financial assets 301-1 083
Profit/loss of the technical account 8621 552
 

Total assets in the non-life insurance industry have grown three per cent during the last year. Investments in subsidiaries and other shares, participation and primary capital certificates made up 19 cent of the total assets, which is a decrease from 21 per cent compared with the corresponding quarter in 2008. Bonds made up 28 per cent of total assets in the first quarter of 2009; an increase of 3 per cent compared to the corresponding quarter last year.

Non-insurance. Balance sheet. NOK million
 
 1st quarter 20091st quarter 2008
 
Total assets 177 096 171 517
Investments in subsidiaries and other shares, participation and primary capital certificates32 98836 629
Holdings of bonds50 16643 003
Holdings of certificates16 80016 498
 
 

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