375065
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
375065
statistikk
2019-08-23T08:00:00.000Z
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
true

Life and non-life insurance companies, accounts

Updated

Next update

Key figures

1 631 871 

NOK million, assets for life-insurance companies

Key Figures. NOK Million
Total
2nd quarter 20182nd quarter 2019
Life insurance companies
Assets1 532 2761 631 871
Earned premiums, net of reinsurance61 01064 532
Gross claims payment28 76930 471
Profitt/loss before tax and allocation to customers13 12512 438
Net income from financial assets19 47477 433
Value-adjusted profitt/loss-20231 139
Non-life insurance companies
Assets249 518255 147
Earned premiums33 51435 679
Gross claims payments28 18330 057
Profitt/loss on ordinary activities4 42010 413
Balance on the technical account for non-life insurance3 0422 410
Net income from financial assets1 6758 334

See selected tables from this statistics

Table 1 
Life insurance companies. Profitt and loss account. NOK Million

Life insurance companies. Profitt and loss account. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in complementary provisions is discontinued, the remaining items are continued
Earned premiums, net of reinsurance61 01089 545112 88430 26164 532
Gross premiums written53 24178 26999 96025 86356 363
Reinsurers share of gross premiums written-442-574-914-225-383
Transfers of premium reserve from other companies8 21111 85013 8384 6238 552
 
Claims incurred, net of reinsurance37 12754 85173 12320 12838 806
Gross claims payment28 76943 08859 23015 38530 471
Reinsurance share of gross claims payments-278-376-313-131-259
Other appropriations1..........
Transfers of premiumreserve etc. to other companies8 63612 13814 2074 8748 593
 
Net change in technical provisions35 75866 10534 90757 09694 063
Premium reserve33 23155 81140 82435 28562 445
Other technical provisions2-255-4563 283-24-774
To/from revaluation reserve-5 273970-14 95418 95725 546
Means allocated insurance contracts8 0549 7805 7542 8786 845
 
Other operating income/ costs-2 528-4 380-6 619-1 715-3 503
Commision received363977-310
Operating income, real property38211004252
Other operating income8791 3001 696357937
Personell costs1 5452 9423 0898471 683
Commision submitted448635816251499
Operating costs, real property01100
Depreciations of non-financial assets14527033258114
Other operating costs1 6861 8724 2549562 206
 
Investment income /costs18 56726 44436 0609 53520 411
Interest income bonds and certificates11 46016 16622 0314 9029 930
Interest income other assets2 4763 8535 7721 4933 509
Share dividend etc.5 2967 3789 5933 5717 853
Interest costs6659531 336431881
 
Gains/losses, value (re-)adjustments on financial assets90716 440-25 24941 00457 022
Realized gains/losses7 6639 9809 941-103 987
Shares, participations and primary capital certificates6 0539 98512 8723 8808 515
Bonds and certificates219-1832 182-289-391
Financial derivatives1 543-153-6 120-3 015-3 486
Land and buildings0391369..1
Other realized gains/losses-152-60639-586-653
Net change in value-6 7566 460-35 19041 01453 035
Shares, participations and primary capital certificates-8 4991 506-26 55127 98234 738
Bonds and certificates-1 752-2 560-1 6798841 271
Financial derivatives2 8524 832-2 9556 4828 764
Land and buildings000....
Other net change in value6422 682-4 0055 6668 262
 
Profitt/loss on ordinary activities5 0717 0919 0461 8615 593
 
Other result components-27-28-28-86-89
 
Tax9371 431-684350999
 
Total Profitt/loss4 1075 6329 7021 4254 505
 
Specifications
Balance on the technical account for life insurance3 0044 6776 5438402 564
Value-adjusted profitt/loss-2028 062-5 90820 81731 139

Table 2 
Life insurance companies. Balance sheet by financial instrument. NOK Million

Life insurance companies. Balance sheet by financial instrument. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Assets
Intangible assets1 6091 7743 5192 7112 816
 
Tangible fixed assets1 0231 0141 0761 4171 342
Land and buildings904895962994988
Machinery, equipment and vehicles119120115423354
 
Capital investments1 356 2881 381 4101 360 1921 411 8511 435 032
Shares, participation and primary capital certificate206 566210 924204 449212 803225 791
Shares in securities' fund582 038597 625568 984612 832627 107
Bonds and certificates559 129563 645579 178577 320572 158
Financial derivatives2 9604 6903 0413 7816 095
Other capital investment5 5964 5264 5405 1163 881
 
Loans134 374137 566144 969143 891147 533
 
Remaining claims14 55619 0276 3317 77715 371
Insurance claims11 56316 4381 5222 92010 317
Reinsurance share of technical provisions9379611 5101 6191 553
Other claims2 0561 6273 2993 2383 502
 
Cash and bank deposits24 42723 29324 85523 29629 778
 
Total assets1 532 2761 564 0841 540 9421 590 9441 631 871
 
Liabilities and equity capital
Eqiuty capital103 615106 650106 016105 487108 422
Deposit capital40 68042 11342 20642 23242 853
Company capital7 6197 6127 6127 6017 579
Share premium account17 92017 92017 92017 92017 920
Other deposit capital15 14116 58116 67416 71117 354
Retained earnings62 93564 53763 81063 25565 569
Other equity58 97859 15862 99162 06661 612
Not allocated profit3 9585 3798201 1903 958
 
Subordinated liabilities25 61325 61328 00827 81227 513
Bonds16 04316 04316 93816 74216 443
Other subordinated loans9 5709 57011 07011 07011 070
 
Technical provisions1 385 4821 411 3911 378 3311 435 1441 471 660
Premium reserve11 243 0631 265 1161 250 9721 286 7481 313 575
Additional provisions51 18351 17354 94554 70854 651
Revaluation reserve58 69764 94049 01667 97274 562
Net provision for outstanding claims2..........
Premium and pension provision23 79419 61021 50021 65121 530
Net other technical provisions1 3401 4061 7561 6191 479
Unallocated surplus funds to insurance contracts7 4059 1461422 4465 863
 
Provisions for other charges4 8535 4854 3234 3924 501
Provisions for pension9339129159811 002
Deffered tax3 8144 4793 2862 9763 094
Other provisions for charges10695122436406
 
Remaining liabilites12 71314 94624 26418 10819 775
Expences accrued663621879808703
Deffered income1917111713
Payable tax701031 0311 4422 015
Dividend..........
Insurance liabilities2 5154 0334 1324 0762 397
Other liabilities7 1469 1388 06310 25614 022
Financial derivatives2 3001 03310 1471 508626
 
Total libilities1 532 2761 564 0841 540 9421 590 9441 631 871
 
Specifications
Number of companies1818181817
Loan with morgage on dwelling42 44942 49241 91040 27840 283
Net tehcnical provisions where the risk is borne by the policyholder319 963334 692315 435344 387359 234

Table 3 
Life insurance companies. Investments in shares, participations and primary capital certificates by sector. NOK Million

Life insurance companies. Investments in shares, participations and primary capital certificates by sector. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
 
Sum all sectors788 603808 549773 433825 635852 898
 
Non-financial corporations125 091126 234121 396123 841136 157
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government957951855411484
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government220234257257264
Private non-financial incorporated enterprises123 914125 050120 285123 174135 410
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations453 975465 163459 137489 354496 464
Norges Bank..........
Banks118118929897
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies2 8402 8892 7272 3752 374
Mutual funds444 311455 416428 826457 491464 436
Investment trusts and private equity funds1 5211 52722 04523 53824 091
Other financial enterprises, except insurance companies and pension funds2 5952 5742 9143 1652 770
Life insurance companies and pension funds535519513512491
Non-life insurance companies2 0562 1202 0202 1762 206
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
Unincorporated enterprises within households..........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc...........
Unspecified sector..........
 
Rest of the world209 537217 151192 900212 439220 277

Table 4 
Life insurance companies. Holding of bonds and certificates by issuing sector. NOK Million

Life insurance companies. Holding of bonds and certificates by issuing sector. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Sum all sectors559 129563 645579 178577 320572 158
 
Non-financial corporations96 85493 74196 83394 88291 495
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government24 60824 66626 37724 68524 265
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government25 54925 24724 61824 66221 115
Private non-financial incorporated enterprises46 69743 82845 83845 53546 116
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations111 741113 999115 630112 410113 128
Norges Bank..........
Banks43 59043 13943 74039 22443 322
Mortgage companies67 34070 05571 06672 37068 943
Finance companies..........
State lending institutions etc...........
Financial holding companies4242423737
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds513507532525567
Life insurance companies and pension funds166168163165171
Non-life insurance companies8988878988
 
General government44 04340 20538 75038 44837 900
Central government24 57221 98518 35019 09020 380
Local government19 47118 22020 40019 35917 519
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world306 490315 701327 965331 581329 635

Table 5 
Life insurance companies. Total utilized loans by borrower sector. NOK Million

Life insurance companies. Total utilized loans by borrower sector. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Sum all sectors134 374137 566144 969143 891147 533
 
Non-financial corporations31 39822 49543 24142 26943 897
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government46........
Public unincorporated enterprises, owned by local government471447473529613
Public incorporated enterprises, owned by local government7 0322 4942 4642 4572 457
Private non-financial incorporated enterprises23 84519 54940 30039 27940 823
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises54444
 
Financial corporations17 81318 4733 4633 0652 992
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies15 76616 362614615489
Mutual funds..........
Investment trusts and private equity funds1 6051 6191 9971 9521 992
Other financial enterprises, except insurance companies and pension funds443492852497512
Life insurance companies and pension funds..........
Non-life insurance companies..........
 
General government34 67943 04945 10545 90648 234
Central government..6 2046 6427 0136 957
Local government34 67936 84538 46338 89341 277
 
Non-profit institutions serving households435425413415418
 
Households42 56242 60442 01940 38740 388
Unincorporated enterprises within households00000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.112111108108105
Employees, recipients of property income, pensions and social contributions, students etc.42 45142 49341 91140 27940 283
Unspecified sector..........
 
Rest of the world7 48610 52110 72711 85011 603

Table 6 
Non-life insurance company. Profitt and loss account. NOK Million

Non-life insurance company. Profitt and loss account. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
11st quarter of 2016: Closed series
21st quarter of 2016: Changes in the equalization provision are discontinued. Changes in the provisions for unexpired risk is continued.
Earned premiums, net of reinsurance33 51451 00868 64017 30135 679
Gross premiums written48 53764 52681 68933 15652 659
Reinsurers share of gross premiums writtens-7 072-9 376-11 503-4 771-6 834
Gross change in the provision for unearned premiums-8 223-4 574-1 040-12 885-11 455
Reinsurance share272432-5061 8011 309
 
Claims incurred and net change in technical provisions24 28636 93248 19613 61426 627
Gross claims payment28 18341 37756 84715 48930 057
Reinsurers share of gross claims payments-3 775-5 328-7 172-1 688-2 949
Gross change in the provision for outstanding claims-1 121489-1 992-337-710
Reinsurers share, gross change in the provision for outstanding claims958360465140219
Bonus and rebates1..........
Net change in technical provision24134481010
 
Other operating income/ costs-6 484-9 930-13 500-3 406-6 973
Commision received9914018859108
Operating income, real property182759919
Other operating income327507689109248
Personell costs3 5695 6627 5851 9303 810
Commision submitted1 5512 3553 2148991 880
Operating costs, real property8111377
Depreciations of non-financial assets206329437125310
Other operating costs1 5932 2483 1886221 341
 
Investment income /costs1 7892 5973 3891 0932 051
Interest income1 4202 1563 0666981 511
Share dividend etc.446564489450645
Interest costs7712316754105
 
Gains/losses, value (re-)adjustments on financial assets-114649-1 6985 4216 283
Net realized gains/losses1 8802 1662 2733 1953 577
Net change in value-1 995-1 517-3 9712 2262 706
 
Profitt/loss on ordinary activities4 4207 3928 6346 79410 413
 
Other result components-46-57-180....
 
Tax1 1101 7472 5596231 448
 
Total Profitt/loss3 2635 5885 8956 1718 966
 
Specifications
Balance on the technical account for non-life insurance3 0424 6267 5494422 410

Table 7 
Non-life insurance companies. Balance sheet by financial instrument. NOK Million

Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
11st quarter of 2016: The Equalization provision discontinued. The provision for unexpired risk is continued.
21st quarter of 2016: Closed series
Assets
Intangible assets6 0285 9466 0908 0118 048
 
Tangible fixed assets1 4271 4361 4312 5992 509
Land and buildings673718744738752
Machinery, equipment and vehicles7537186871 8611 757
 
Capital investments148 632151 472147 201152 128150 468
Shares, participation and primary capital certificates22 36121 78521 30819 16218 789
Shares in securities' fund30 40833 36930 13634 77833 209
Bonds and certificates95 13795 29194 94597 14397 200
Financial derivatives383516314390499
Other capital investments343511498655771
 
Loans3 1053 1433 8713 7443 736
 
Reinsurance share of technical provisions20 74819 93019 38621 40120 442
 
Remaining claims59 31555 38856 36861 39360 483
Insurance claims26 89324 23424 74630 94229 905
Other claims32 42231 15431 62230 45130 578
 
Cash and bank deposits10 2638 8909 91813 6759 461
 
Total assets249 518246 203244 265262 952255 147
 
Liabilities and equity capital
Eqiuty capital79 42880 74177 30380 78483 440
Deposit capital14 59414 65114 51516 77416 760
Company capital4 8474 8424 8614 6954 560
Share premium account4 1604 1603 9376 6366 636
Other deposit capital5 5875 6495 7175 4435 564
Retained earnings64 83566 09062 78764 01066 680
Other equity59 49558 79754 76054 94855 332
Not allocated profit5 3407 2938 0289 06211 347
 
Subordinated liabilities3 1243 1253 2013 2013 238
Bonds2 8452 8462 9222 9222 924
Other subordinated loans279279279279314
 
Technical provisions133 185129 360124 958136 837133 733
Gross provision for unearned premium37 61833 71830 82642 22840 540
Gross Provision for outstanding claims89 29789 86188 31788 51387 161
Gross provision for bonuses and rebates2..........
Equalization provision16 2705 7805 8156 0966 033
Other technical provision2..........
 
Provisions for other charges10 46710 64910 42811 71911 689
Provisions for pension1 5031 5961 6421 5691 558
Deffered tax7 9217 9617 5457 6727 716
Other provisions for charges1 0431 0911 2412 4772 414
 
Remaning liabilites23 31322 32928 37530 41023 047
Expences accrued1 2711 4311 5841 5621 417
Deffered income133122312157125
Payable tax9721 5022 5111 5131 267
Dividend....4 0015 996..
Insurance liabilities5 9654 9274 8266 4076 145
Other liabilities14 61114 14014 42914 50013 859
Financial derivatives360207713275234
 
Total libilities249 518246 203244 265262 952255 147
 
Specifications
Number of companies8381818080
Loan with morgage on dwelling237229248266260

Table 8 
Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million

Non-life insurance companies. Investment in shares, participations and primary capital certificates by sector. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Sum all sectors52 76955 15451 44453 94051 998
 
Non-financial corporations9 9429 6369 2919 4279 391
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government194191223189172
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government33443
Private non-financial incorporated enterprises9 0788 7728 3888 5538 538
Private non-financial unincorporated enterprises668670677681679
Private non-profit institutions serving enterprises..........
 
Financial corporations20 97221 81420 41019 69419 655
Norges Bank..........
Banks2 6712 6692 788306323
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies206237183186164
Mutual funds16 27117 19815 63217 34517 252
Investment trusts and private equity funds658667683678698
Other financial enterprises, except insurance companies and pension funds413288367417476
Life insurance companies and pension funds682682682682682
Non-life insurance companies7073768160
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world21 85523 70421 74324 81922 952

Table 9 
Non-life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million

Non-life insurance companies. Holdings of bonds and certificates by issuing sector. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Sum all sectors95 13795 29194 94597 14397 200
 
Non-financial corporations13 70713 86913 83314 09215 686
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 5961 5061 4611 5371 711
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government5 3435 3035 2845 2055 084
Private non-financial incorporated enterprises6 7687 0607 0897 3508 891
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations36 15937 32936 11638 49237 074
Norges Bank..........
Banks13 02113 85813 29414 10914 416
Mortgage companies22 87023 20422 63724 19722 478
Finance companies..........
State lending institutions etc...........
Financial holding companies7373465143
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds4544555
Life insurance companies and pension funds2020666
Non-life insurance companies130129127125125
 
General government14 88414 88814 11515 65412 773
Central government5 7855 1104 8096 0374 524
Local government9 1009 7789 3069 6178 249
 
Non-profit institutions serving households..........
 
Households..........
Unincorporated enterprises within households..........
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc...........
Unspecified sector..........
 
Rest of the world30 38629 20630 88128 90631 667

Table 10 
Non-life insurance companies. Total utilized loans by borrower sector. NOK Million

Non-life insurance companies. Total utilized loans by borrower sector. NOK Million
2nd quarter 20183rd quarter 20184th quarter 20181st quarter 20192nd quarter 2019
Sum all sectors3 1053 1433 8713 7443 736
 
Non-financial corporations2 0992 1432 7862 6932 713
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government..........
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government..........
Private non-financial incorporated enterprises2 0992 1432 7862 6932 713
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations713718789739750
Norges Bank..........
Banks00000
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies..........
Mutual funds..........
Investment trusts and private equity funds593598630658668
Other financial enterprises, except insurance companies and pension funds1131131517475
Life insurance companies and pension funds..........
Non-life insurance companies77777
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households293282297311272
Unincorporated enterprises within households5551484412
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc.238231249267260
Unspecified sector..........
 
Rest of the world00000

About the statistics

The statistics cover all life and non-life insurance companies and branches of foreign companies in Norway. It shows overall performance, balance and some specifications for the sector and industry.

Definitions

Definitions of the main concepts and variables

Balance sheet: The balance sheet shows assets, liabilities and equity at the end of accounting period.

Profitt and loss account: The profit and loss account shows income, costs and expenses over the course of the accounting period.

Standard classifications

We have four types of classification: instrument, sector, industry and type.

Financial instruments and physical capital
Liabilities, claims and other assets in the balance sheet of the financial institutions are divides into two main groups with a view to providing major uniform groups such as bank lending, funding and deposits.
Debtor and creditor industry
Borrowers and lenders are classified according to institutional sector classification, based on national accounts rules.
Debtor and creditor industry
Based on the rules in the industry standard, the individual financial instruments are grouped according to the debtor's or creditor's industry affiliation.
Types of income and expenses
Including interest income and expenses, are based on national accounts rules.

Administrative information

Name and topic

Name: Life and non-life insurance companies, accounts
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

Only at the national level.

Frequency and timeliness

Annual and quarterly.

International reporting

Eurostat

Microdata

Publication-ready data are stored in a FAME-database

Background

Background and purpose

The purpose is to provide statistics for the national accounts, financial sector balances and census of foreign assets and liabilities, and publish current credit market statistics. Accounting statistics for life and non-life insurance companies was first published in NOS Credit Market Statistics 1912. From 1998 the accounts statistics was based up on new electronic reports, which have more details than the former manual reports. Among others it gives the possibility to divide between capital assets and short-term assets, and it also contains quarterly profit and loss accounts.

.

Users and applications

The statistics are included in national accounts, financial sector balances, balance of payments and statistics on Norway's foreign assets and liabilities. Other major users are the Central Bank of Norway, the Financial Supervisory authority, Ministry of Finance and the media.

Equal treatment of users

Not relevant

Coherence with other statistics

The statistics are based on the guidelines in the national accounts standards System of National Accounts from (SNA) and the IMF Manual on Monetary and Financial Statistics.

Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

Legal authority

Statistics Act Section 3-2 (state lending institutions), Act on the Supervision on Credit Institutions, Insurance Companies and Securities Trading, etc., Sections 1 and 4 (insurance companies).

EEA reference

Council Directive 674/91

Council Regulation (EC) no. 2223/96

Council Regulation (EC) 410/98

Council Regulation (EC) no. 1392/2007

Council Regulation (EC) no. 2056/2002

Council Regulation (EC) no. 1606/2002

Council Regulation (EC) no. 297/2008

Commission Regulation 1225/1999

Commission Regulation 1227/1999

Commission Regulation 1228/1999

Production

Population

The population is all life and non-life insurance companies in Norway, including foreign branches in Norway. According to the Standard Industrial Classification this covers industries 65.110, 65.120 and 65.200.

The statistical unit forming the basis for the accounting reports is the enterprise.

Data sources and sampling

The statistics are based on accounting data from the enterprises.

The sample is defined on the basis of a number of financial corporations licensed by the Financial Supervisory authority (the statistics are in principle based on total censuses).

Collection of data, editing and estimations

The Financial Supervisory authority and Statistics Norway cooperate in the collection of accounting information.

The data is controlled by the Banking, Insurance and Securities Commission and Statistics Norway.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

The accounting statistics for the life and non-life insurance companies is based on current accounting regulations for life and non-life insurance companies. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the life and non-life insurance companies. Structural changes like new companies, mergers and spin-offs, with portfolio movements as one consequence, may also lead to breaches in the time series.

International Financial Reporting Standard (IFRS) The new accounting standard IFRS is an example of a change that will cause breaches in the time series in the periods to come. In 2008 all reporting companies must, in one way or another, report according to the IFRS standard, and data may then be fully comparable again. However, the IFRS standard will lead to larger fluctuations in the data because of the more extensive use of fair value in the accounting. The comparison of the reported data with the companies' official accounts is also challenging because the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standard does.

Accuracy and reliability

Sources of error and uncertainty

Errors and discrepancies can occur in the accounting data. These discrepancies can have a number of sources:

  • Errors in the reporting institutions' accounts
  • Errors in the transfer of data from the institution's primary accounts to recipients
  • Different accounting and evaluation principles
  • Different accounting dates for transactions
  • Insufficient data from the reporting parties
  • Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceeding publishing. Large and important revision however, will be commented upon in the publishing of Today's Statistics.

Revision

Not relevant