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262184
Increase in value-adjusted profit for life insurance
statistikk
2016-11-18T08:00:00.000Z
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, Q3 2016

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Increase in value-adjusted profit for life insurance

Life insurance companies had an increase in value-adjusted profit of 240 per cent in the third quarter of 2016 compared to the third quarter of 2015. This is mainly due to a positive net value adjustment in shares, participations and primary capital certificates.

Key Figures. NOK MillionPublished 18 November 2016
Total
3rd quarter 20153rd quarter 2016
Life insurance companies
Assets1 260 3541 364 218
Earned premiums, net of reinsurance83 65481 700
Gross claims payment36 76538 454
Profitt/loss before tax and allocation to customers11 47819 176
Value-adjusted profitt/loss7 07524 056
Net income from financial assets23 84545 767
Non-life insurance companies
Assets233 513242 594
Earned premiums48 71349 873
Gross claims payments37 81838 379
Profitt/loss on ordinary activities8 25211 126
Balance on the technical account for non-life insurance6 0207 354
Net income from financial assets2 8104 094

Source: Statistics Norway

Life insurance companies had a profit on ordinary activities of NOK 5 billion after the third quarter of 2016. This is a decrease of 1.4 per cent compared with the same period last year. The non-life insurance companies had a profit of NOK 11.1 billion after the third quarter 2016. This is an increase of 34.8 when we compare the third quarter of 2015 with the same period in 2016.

Increase in shares in securities funds for life insurance

Life insurance companies’ total assets increased by 8 per cent compared to the corresponding quarter last year. Bonds and certificates made up 37.8 per cent of total assets. Shares in mutual funds increased by 9 per cent. As a proportion of total assets, mutual funds accounted for 36.1 per cent.

Increase in technical account for non-life insurance

The balance of the technical account increased by a total of 22.2 per cent, and amounted to NOK 7.4 billion at the end of the third quarter of 2016. The profit of ordinary activities amounted to NOK 11.1 billion; an increase of 34.8 per cent. Non-life insurance companies’ earned premiums written increased by 2.4 per cent. Gross claim payments increased by 1.5 per cent.

Increase in bonds and certificates

The non-life insurance companies’ assets increased by 3.9 per cent in the third quarter of 2016 compared to the corresponding quarter in 2015. The holdings of shares in security funds decreased by 0.5 per cent compared to the third quarter last year. As a share of total assets, this amounts to 12.9 per cent. This is a decrease of 0.5 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 40.4 per cent; an increase of 0.7 percentage points from the previous year.