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Decrease in value-adjusted profit for life insurance
statistikk
2015-11-19T10:00:00.000Z
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, Q3 2015

Life and non-life insurance companies, accounts, Q3 2015

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Decrease in value-adjusted profit for life insurance

Life insurance companies had a decrease in value-adjusted profit of 67 per cent compared to the third quarter last year. This is mainly due to a negative net value adjustment in shares, participations and primary capital certificates.

Key Figures. NOK MillionPublished 19 November 2015
Total
3rd quarter 20143rd quarter 2015
Life insurance companies
Assets1 177 7401 260 354
Earned premiums, net of reinsurance108 19983 654
Gross claims payment35 10236 765
Profitt/loss before tax and allocation to customers13 67911 478
Value-adjusted profitt/loss21 7867 075
Net income from financial assets49 20723 845
Non-life insurance companies
Assets221 639233 313
Earned premiums46 84048 713
Gross claims payments33 75837 818
Profitt/loss on ordinary activities13 2618 252
Balance on the technical account for non-life insurance7 2416 020
Net income from financial assets7 7332 810

Source: Statistics Norway

Life insurance companies had a value-adjusted profit of NOK 7.1 billion after the third quarter of 2015. This is a decrease of NOK 14.7 billion compared with the previous year. One of the main reasons for this is a negative net value adjustment in shares, participations and primary capital certificates of NOK 21 billion in the third quarter of 2015. The profit amounted to NOK 5.6 million; an increase of 31.7 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 7 per cent compared to the corresponding quarter last year. Bonds and certificates made up 39.1 per cent of total assets; a decrease of 0.9 percentage points from last year. Shares in mutual funds increased by 10.4 per cent, and mutual funds accounted for 35.7 per cent of total assets.

Decline in technical account for non-life insurance

The balance of the technical account declined by a total of 16.9 per cent, and amounted to NOK 6 billion at the end of the third quarter of 2015. The profit of ordinary activities amounted to NOK 8.3 billion; a decrease of 37.8 per cent. Non-life insurance companies’ earned premiums written increased by 4 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 1.8 per cent compared to the third quarter last year. As a share of total assets, this amounts to 7.8 per cent. This is a decrease of 0.2 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 39.8 per cent; an increase of 0.6 percentage points from the previous year.