Norway Yearbook - 2003

Financial intermediation
550 Life insurance companies. Profit and loss account. Million kroner
1997 1998 1999 2000 2001 2002*
.
.
Earned premiums, net of reinsurance 28189 31176 30847 35953 42 893 47371
Gross premiums written 25236 26 526 26986 29 103 36 346 39 222
- Reinsurers share of gross
premiums written -273 -862 -932 -1160 -1 703 -1837
- Reinsurers share of investment
income -65 -461 -692 -826 -226 -294
Transfer of premium reserve from
other companies 3290 5973 5425 8836 8476 10281
Claims incurred, net of reinsurance 17 527 23 909 22 491 27409 28324 28 688
Gross claim payment 14133 18237 16894 19054 21 344 21 426
Reinsurers share of gross claim
payments -136 -597 -712 -771 -884 -1131
Net change in the provision for
outstanding claims 109 634 216 214 183 278
Transfer of premium reserve etc. to
other companies 3421 5634 6093 8911 7681 8114
Net change in technical provisions. . 28583 21 074 31 242 33449 19736 20709
Investment income (+)/charges (-) . 13516 13746 13563 14238 17009 19146
Interest income 12598 12514 12476 13859 16758 19002
Interest charges 372 474 801 1 715 1 787 1 624
Share dividend etc 1 290 1 706 1 889 2 094 2 038 1 768
Gains/losses, value (re-)
adjustments on financial assets . . . 7241 2671 32872 -5000 -18 316 -18 846
Gains (+)/losses (-) 7 107 2724 9447 14889 -10 734 -12 882
Unrealized gains (+)ìlosses (-). . . 138 -42 23430 -19 892 -7647 -5975
Value re-adjustments (i-)!
adjustments (-) -5 -11 -5 3 65 12
Other operating income (+)/
expenses (-) -1 615 -1 967 -1 320 -1 559 -184 -1 015
Personnel costs 1 428 1 362 1 421 1 440 1 599 1 550
Depreciations of non-financial
assets 114 84 136 111 132 156
Other operating income
(+)/expenses (-) -74 -521 237 -9 1 546 690
To/from revaluation reserve .. 21 202 -19 256 -6637 -1 025
Profit/loss on ordinary activities. 1 221 642 1 027 2030 -22 -1 715
Extraordinary income (+)/charges (-) 0 1 719 - 6 2
Tax 4 20 355 230 -244 -594
Profit/loss 1 217 622 2391 1 800 229 -1119
Source: Life and non-life insurance, Statistics Norway. More information: http:/tvs.ssb.no/forsikring_ers/
551 Life insurance companies. Balance sheet per 31 December. Million kroner
1997 1998 19992 2000 2001 2002*
Assets
Cash and deposits 7 979 9805 7 500 9 684 13464 22 494
Commercial papers and treasury bills 17142 17103 12321 14152 31 275 50421
Bonds 139764 141 480 157554 161 123 185062 217656
Shares and primary capital certificates 56174 73994 127 096 130451 101 501 61 634
Loans1 (utilized) 34179 29047 25946 23916 25411 23779
Grossloans 34206 29068 25963 23929 25425 23785
- Specified provisions 27 21 17 13 14 6
- Unspecified provisions 17 11 9 11 15 14
Other financial assets 7 565 11 682 8747 9450 17325 16635
Otherassets 21876 24291 29913 34364 38358 37694
Total 284 663 307 390 369 068 383 129 412 382 430 300
428 Statistical Yearbook of Norway 2003