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218581
Increase in value-adjusted profit for life insurance
statistikk
2015-05-28T10:00:00.000Z
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, Q1 2015

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Increase in value-adjusted profit for life insurance

Life insurance companies had an increase in value-adjusted profit of 130 per cent in the first quarter of 2015 compared to the first quarter last year. This is mainly due to a positive net value adjustment in shares, participations and primary capital certificates.

Key Figures. NOK MillionPublished 28 May 2015
Total
1st quarter 20141st quarter 2015
Life insurance companies
Assets1 114 6281 229 326
Earned premiums, net of reinsurance47 86037 922
Gross claims payment11 73912 200
Profitt/loss before tax and allocation to customers4 7624 240
Value-adjusted profitt/loss5 41912 489
Net income from financial assets13 56024 789
Non-life insurance companies
Assets223 174233 989
Earned premiums15 13515 602
Gross claims payments12 47013 767
Profitt/loss on ordinary activities3 8774 118
Balance on the technical account for non-life insurance1 7241 213
Net income from financial assets2 8883 237

Source: Statistics Norway

Life insurance companies had a value-adjusted profit of NOK 12.4 billion at the end of the first quarter of 2015. This is an increase of NOK 7.1 billion compared with the previous year. One of the main reasons is a positive net value adjustment in shares, participations and primary capital certificates of NOK 11.5 billion in the first quarter of 2015. The profit amounted to NOK 771 million; a decrease of 44 per cent compared to the same period last year.

Increase in shares in securities funds for life insurance

Life insurance companies’ total assets increased by 10.3 per cent compared to the corresponding quarter last year. Bonds and certificates made up 39.4 per cent of total assets; a decrease of 2.5 percentage points from last year. Shares in securities funds increased by a total of 19.8 per cent. The increase, as a share of total assets, amounted to 2.9 per cent. 

Increase in earned premiums for non-life insurance

The balance of the technical account declined by a total of 29.4 per cent, and amounted to NOK 1.2 billion at the end of the first quarter of 2015. The profit of ordinary activities amounted to NOK 4.1 billion; an increase of 6.2 per cent. Non-life insurance companies’ earned premiums written increased by 3.1 per cent.

 

Increase in shares, participations and primary capital certificates

The non-life insurance companies’ holdings of shares, participations and primary capital certificates increased by 7.5 per cent compared to the first quarter last year. As a share of total assets, this amounts to 7.8 per cent. This is an increase of 0.2 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 39 per cent; a decrease of 1 percentage point from the previous year.