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262182
Decrease in total profit for non-life insurance
statistikk
2016-08-18T10:00:00.000Z
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 2016

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Decrease in total profit for non-life insurance

Non-life insurance companies had a decrease in total profit of a total of 12.3 per cent compared to the second quarter last year. One of the main reasons is realised losses on financial assets.

Key Figures. NOK MillionPublished 18 August 2016
Total
2nd quarter 20152nd quarter 2016
Life insurance companies
Assets1 255 0631 335 505
Earned premiums, net of reinsurance61 93255 066
Gross claims payment24 38425 534
Profitt/loss before tax and allocation to customers10 81611 082
Value-adjusted profitt/loss12 46213 770
Net income from financial assets31 01224 150
Non-life insurance companies
Assets232 595243 283
Earned premiums31 93432 516
Gross claims payments25 99025 431
Profitt/loss on ordinary activities6 7267 098
Balance on the technical account for non-life insurance3 3095 039
Net income from financial assets3 9592 362

Source: Statistics Norway

Life insurance companies had a profit of NOK 3.5 billion after the first half year of 2016. This is a decrease of 7.9 per cent compared with the same period in the previous year. Compared with the second quarter of 2015, the profit on ordinary activities decreased by 13.9 per cent in the same period in 2016.

Increase in shares in securities funds for life insurance

Life insurance companies’ total assets increased by 6.4 per cent compared to the corresponding quarter last year. Bonds and certificates made up 37.6 per cent of total assets. Shares in mutual funds increased by 6.5 per cent. As a proportion of total assets, mutual funds accounted for 35.6 per cent. 

Increase in technical account for non-life insurance

The balance of the technical account increased by a total of 52.3 per cent, and amounted to NOK 5.0 billion at the end of the second quarter of 2016. The profit of ordinary activities amounted to NOK 7.1 billion; an increase of 5.5 per cent. Non-life insurance companies’ earned premiums written increased by 1.8 per cent. Gross claim payment decreased by 2.2 per cent. 

Increase in bonds and certificates

The non-life insurance companies’ assets increased by 4.6 per cent in second quarter of 2016 compared to the corresponding quarter in 2015. The holdings of shares in security funds decreased by 4.2 per cent compared to the second quarter last year. As a share of total assets, this amounts to 12.7 per cent, which is a decrease of 1.2 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 39.7 per cent; an increase of 1.0 percentage point from the previous year.