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274838
Decrease in value-adjusted profit for life insurance
statistikk
2017-02-20T08:00:00.000Z
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 insurance companies had a decrease in value-adjusted profit of 19 per cent in the fourth quarter of 2016 compared to the fourth quarter of 2015. This is mainly due to an increase in gross claim payments.

Life and non-life insurance companies, accounts, Q4 2016

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Decrease in value-adjusted profit for life insurance

Life insurance companies had a decrease in value-adjusted profit of 19 per cent in the fourth quarter of 2016 compared to the fourth quarter of 2015. This is mainly due to an increase in gross claim payments.

Key Figures. NOK MillionPublished 20 February 2017
Total
4th quarter 20154th quarter 2016
Life insurance companies
Assets1 288 2671 379 847
Earned premiums, net of reinsurance106 117104 472
Gross claims payment50 06351 980
Profitt/loss before tax and allocation to customers28 06913 359
Value-adjusted profitt/loss34 10427 472
Net income from financial assets50 21565 347
Non-life insurance companies
Assets239 806239 528
Earned premiums66 33866 597
Gross claims payments53 33252 663
Profitt/loss on ordinary activities15 29015 721
Balance on the technical account for non-life insurance11 5029 887
Net income from financial assets6 6796 160

Source: Statistics Norway

Life insurance companies had a profit on ordinary activities of NOK 7.1 billion after the fourth quarter of 2016. This is a decrease of 14.4 per cent compared with the same period the previous year.

Increase in shares in securities funds for life insurance

Life insurance companies’ total assets increased by 7.1 per cent in 2016 compared to the corresponding quarter the previous year. Bonds and certificates made up 37.8 per cent of total assets. Shares in mutual funds increased by 10.7 per cent. As a proportion of total assets, mutual funds accounted for 36.1 per cent. 

Decrease in technical account for non-life insurance

The balance of the technical account decreased by a total of 14 per cent, and amounted to NOK 9.9 billion at the end of the fourth quarter of 2016. The profit of ordinary activities amounted to NOK 15.7 billion; an increase of 2.8 per cent. Non-life insurance companies’ earned premiums written increased by 0.4 per cent. Gross claim payments decreased by 1.3 per cent. 

Increase in bonds and certificates

The non-life insurance companies’ assets decreased by 0.1 per cent in the fourth 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 fourth quarter the previous year. As a share of total assets, this amounts to 13.4 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 40.7 per cent; an increase of 0.1 percentage points from the previous year.