375063
/en/bank-og-finansmarked/statistikker/forsikring/kvartal
375063
statistikk
2019-05-16T08:00:00.000Z
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

1 590 944

NOK million, assets for life-insurance companies

Key Figures. NOK Million
Total
1st quarter 20181st quarter 2019
Life insurance companies
Assets1 505 3841 590 944
Earned premiums, net of reinsurance28 78830 261
Gross claims payment14 31915 385
Profitt/loss before tax and allocation to customers7 1344 739
Net income from financial assets-5 40150 539
Non-life insurance companies
Assets254 716262 935
Earned premiums16 06917 301
Gross claims payments13 63515 489
Profitt/loss on ordinary activities1 0156 794
Balance on the technical account for non-life insurance1 131364
Net income from financial assets216 513

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
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st 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 reinsurance28 78861 01089 545112 88430 261
Gross premiums written23 68353 24178 26999 96025 863
Reinsurers share of gross premiums written-249-442-574-914-225
Transfers of premium reserve from other companies5 3548 21111 85013 8384 623
 
Claims incurred, net of reinsurance19 87137 12754 85173 12320 128
Gross claims payment14 31928 76943 08859 23015 385
Reinsurance share of gross claims payments-135-278-376-313-131
Other appropriations1..........
Transfers of premiumreserve etc. to other companies5 6878 63612 13814 2074 874
 
Net change in technical provisions25835 75866 10534 90757 096
Premium reserve6 48333 23155 81140 82435 285
Other technical provisions2-6-255-4563 283-24
To/from revaluation reserve-11 135-5 273970-14 95418 957
Means allocated insurance contracts4 9178 0549 7805 7542 878
 
Other operating income/ costs-1 041-2 528-4 380-6 619-1 715
Commision received25363977-3
Operating income, real property372382110042
Other operating income4988791 3001 696357
Personell costs6791 5452 9423 089847
Commision submitted216448635816251
Operating costs, real property00110
Depreciations of non-financial assets6514527033258
Other operating costs9751 6861 8724 254956
 
Investment income /costs8 30018 56726 44436 0609 535
Interest income bonds and certificates6 42811 46016 16622 0314 902
Interest income other assets1 2532 4763 8535 7721 493
Share dividend etc.8655 2967 3789 5933 571
Interest costs2476659531 336431
 
Gains/losses, value (re-)adjustments on financial assets-13 70190716 440-25 24941 004
Realized gains/losses4 7777 6639 9809 941-10
Shares, participations and primary capital certificates3 1406 0539 98512 8723 880
Bonds and certificates-590219-1832 182-289
Financial derivatives2 2181 543-153-6 120-3 015
Land and buildings00391369..
Other realized gains/losses9-152-60639-586
Net change in value-18 477-6 7566 460-35 19041 014
Shares, participations and primary capital certificates-19 346-8 4991 506-26 55127 982
Bonds and certificates-2 277-1 752-2 560-1 679884
Financial derivatives4 7612 8524 832-2 9556 482
Land and buildings..000..
Other net change in value-1 6166422 682-4 0055 666
 
Profitt/loss on ordinary activities2 2175 0717 0919 0461 861
 
Other result components-9-27-28-28..
 
Tax4459371 431-684350
 
Total Profitt/loss1 7634 1075 6329 7021 510
 
Specifications
Balance on the technical account for life insurance1 5203 0044 6776 543841
Value-adjusted profitt/loss-8 918-2028 062-5 90820 817

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

Life insurance companies. Balance sheet by financial instrument. NOK Million
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
11st quarter of 2016: complementary provisions is discontinues, premium reserve is continued
21st quarter of 2016: Closed series
Assets
Intangible assets1 7191 6091 7743 5192 711
 
Tangible fixed assets1 0201 0231 0141 0761 137
Land and buildings895904895962994
Machinery, equipment and vehicles126119120115143
 
Capital investments1 349 9851 356 2881 381 4101 360 1921 411 851
Shares, participation and primary capital certificate219 111206 566210 924204 449212 803
Shares in securities' fund564 768582 038597 625568 984612 832
Bonds and certificates558 634559 129563 645579 178577 320
Financial derivatives4 1062 9604 6903 0413 781
Other capital investment3 3665 5964 5264 5405 116
 
Loans115 647134 374137 566144 969144 008
 
Remaining claims6 51114 55619 0276 3317 941
Insurance claims2 76611 56316 4381 5222 920
Reinsurance share of technical provisions9489379611 5101 619
Other claims2 7972 0561 6273 2993 402
 
Cash and bank deposits30 50224 42723 29324 85523 296
 
Total assets1 505 3841 532 2761 564 0841 540 9421 590 944
 
Liabilities and equity capital
Eqiuty capital102 970103 615106 650106 016105 487
Deposit capital40 67240 68042 11342 20642 232
Company capital7 6197 6197 6127 6127 601
Share premium account17 92017 92017 92017 92017 920
Other deposit capital15 13315 14116 58116 67416 711
Retained earnings62 29862 93564 53763 81063 255
Other equity60 54658 97859 15862 99162 066
Not allocated profit1 7523 9585 3798201 190
 
Subordinated liabilities27 53725 61325 61328 00827 812
Bonds17 96716 04316 04316 93816 742
Other subordinated loans9 5709 5709 57011 07011 070
 
Technical provisions1 350 1531 385 4821 411 3911 378 3311 435 144
Premium reserve11 216 1971 243 0631 265 1161 250 9721 286 748
Additional provisions51 05151 18351 17354 94554 708
Revaluation reserve52 83558 69764 94049 01667 972
Net provision for outstanding claims2..........
Premium and pension provision24 32223 79419 61021 50021 651
Net other technical provisions1 4351 3401 4061 7561 619
Unallocated surplus funds to insurance contracts4 3137 4059 1461422 446
 
Provisions for other charges4 3404 8535 4854 3234 110
Provisions for pension910933912915981
Deffered tax3 3243 8144 4793 2862 976
Other provisions for charges10610695122154
 
Remaining liabilites20 38412 71314 94624 26418 390
Expences accrued877663621879808
Deffered income2119171117
Payable tax56701031 0311 442
Dividend65........
Insurance liabilities3 5962 5154 0334 1324 076
Other liabilities13 5437 1469 1388 06310 538
Financial derivatives2 2262 3001 03310 1471 508
 
Total libilities1 505 3841 532 2761 564 0841 540 9421 590 944
 
Specifications
Number of companies1818181818
Loan with morgage on dwelling41 59942 44942 49241 91040 278
Net tehcnical provisions where the risk is borne by the policyholder305 598319 963334 692315 435344 387

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
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
 
Sum all sectors783 879788 603808 549773 433825 635
 
Non-financial corporations139 611125 091126 234121 396123 841
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 635957951855411
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government194220234257257
Private non-financial incorporated enterprises137 782123 914125 050120 285123 174
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations443 542453 975465 163459 137489 354
Norges Bank..........
Banks1051181189298
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies2 8112 8402 8892 7272 375
Mutual funds433 879444 311455 416428 826457 491
Investment trusts and private equity funds1 4961 5211 52722 04523 538
Other financial enterprises, except insurance companies and pension funds2 6952 5952 5742 9143 165
Life insurance companies and pension funds537535519513512
Non-life insurance companies2 0182 0562 1202 0202 176
 
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 world200 727209 537217 151192 900212 439

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
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Sum all sectors558 634559 129563 645579 178577 320
 
Non-financial corporations93 52296 85493 74196 83394 882
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government23 60124 60824 66626 37724 685
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government25 31525 54925 24724 61824 662
Private non-financial incorporated enterprises44 60646 69743 82845 83845 535
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations114 436111 741113 999115 630112 410
Norges Bank..........
Banks45 79343 59043 13943 74039 224
Mortgage companies67 83767 34070 05571 06672 370
Finance companies..........
State lending institutions etc...........
Financial holding companies4242424237
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds507513507532525
Life insurance companies and pension funds176166168163165
Non-life insurance companies8289888789
 
General government46 85844 04340 20538 75038 448
Central government25 95224 57221 98518 35019 090
Local government20 90619 47118 22020 40019 359
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world303 817306 490315 701327 965331 581

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

Life insurance companies. Total utilized loans by borrower sector. NOK Million
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Sum all sectors115 647134 374137 566144 969144 008
 
Non-financial corporations31 07231 39822 49543 24142 269
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government4646......
Public unincorporated enterprises, owned by local government449471447473529
Public incorporated enterprises, owned by local government7 2127 0322 4942 4642 457
Private non-financial incorporated enterprises23 36023 84519 54940 30039 279
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises55444
 
Financial corporations2 05017 81318 4733 4633 181
Norges Bank..........
Banks..........
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies19615 76616 362614615
Mutual funds..........
Investment trusts and private equity funds1 4481 6051 6191 9971 952
Other financial enterprises, except insurance companies and pension funds406443492852614
Life insurance companies and pension funds..........
Non-life insurance companies..........
 
General government32 78434 67943 04945 10545 906
Central government....6 2046 6427 013
Local government32 78434 67936 84538 46338 893
 
Non-profit institutions serving households444435425413415
 
Households41 71442 56242 60442 01940 387
Unincorporated enterprises within households00000
Private non-financial unincorporated enterprises inclusive housing cooperatives etc.114112111108108
Employees, recipients of property income, pensions and social contributions, students etc.41 60042 45142 49341 91140 279
Unspecified sector..........
 
Rest of the world7 5847 48610 52110 72711 850

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

Non-life insurance company. Profitt and loss account. NOK Million
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st 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 reinsurance16 06933 51451 00868 64017 301
Gross premiums written30 26548 53764 52681 68933 156
Reinsurers share of gross premiums writtens-4 590-7 072-9 376-11 503-4 771
Gross change in the provision for unearned premiums-11 377-8 223-4 574-1 040-12 885
Reinsurance share1 771272432-5061 801
 
Claims incurred and net change in technical provisions11 95224 28636 93248 19613 614
Gross claims payment13 63528 18341 37756 84715 489
Reinsurers share of gross claims payments-1 848-3 775-5 328-7 172-1 688
Gross change in the provision for outstanding claims-233-1 121489-1 992-337
Reinsurers share, gross change in the provision for outstanding claims369958360465140
Bonus and rebates1..........
Net change in technical provision22941344810
 
Other operating income/ costs-3 124-6 484-9 930-13 500-3 406
Commision received519914018859
Operating income, real property91827599
Other operating income139327507689109
Personell costs1 7913 5695 6627 5851 930
Commision submitted7451 5512 3553 214899
Operating costs, real property5811137
Depreciations of non-financial assets91206329437125
Other operating costs6901 5932 2483 188623
 
Investment income /costs1 0811 7892 5973 3891 095
Interest income7011 4202 1563 066700
Share dividend etc.423446564489450
Interest costs447712316754
 
Gains/losses, value (re-)adjustments on financial assets-1 060-114649-1 6985 418
Net realized gains/losses8701 8802 1662 2733 195
Net change in value-1 930-1 995-1 517-3 9712 224
 
Profitt/loss on ordinary activities1 0154 4207 3928 6346 794
 
Other result components-4-46-57-180..
 
Tax5381 1101 7472 559623
 
Total Profitt/loss4723 2635 5885 8956 171
 
Specifications
Balance on the technical account for non-life insurance1 1313 0424 6267 549364

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

Non-life insurance companies. Balance sheet by financial instrument. NOK Million1
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st 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 assets5 9576 0285 9466 0908 011
 
Tangible fixed assets1 4151 4271 4361 4312 599
Land and buildings642673718744738
Machinery, equipment and vehicles7737537186871 861
 
Capital investments150 943148 632151 472147 201152 128
Shares, participation and primary capital certificates18 27422 36121 78521 30819 162
Shares in securities' fund32 62630 40833 36930 13634 778
Bonds and certificates98 28995 13795 29194 94597 143
Financial derivatives469383516314390
Other capital investments1 285343511498655
 
Loans2 9833 1053 1433 8713 833
 
Reinsurance share of technical provisions21 71420 74819 93019 38621 401
 
Remaining claims59 74859 31555 38856 36861 287
Insurance claims27 36026 89324 23424 74630 925
Other claims32 38732 42231 15431 62230 362
 
Cash and bank deposits11 95510 2638 8909 91813 675
 
Total assets254 716249 518246 203244 265262 935
 
Liabilities and equity capital
Eqiuty capital78 11779 42880 74177 30380 784
Deposit capital14 57414 59414 65114 51516 774
Company capital4 8344 8474 8424 8614 695
Share premium account4 1604 1604 1603 9376 636
Other deposit capital5 5815 5875 6495 7175 443
Retained earnings63 54364 83566 09062 78764 010
Other equity60 69559 49558 79754 76054 948
Not allocated profit2 8485 3407 2938 0289 062
 
Subordinated liabilities3 0643 1243 1253 2013 201
Bonds2 7652 8452 8462 9222 922
Other subordinated loans299279279279279
 
Technical provisions135 508133 185129 360124 958136 837
Gross provision for unearned premium39 07137 61833 71830 82642 228
Gross Provision for outstanding claims90 17689 29789 86188 31788 513
Gross provision for bonuses and rebates2..........
Equalization provision16 2606 2705 7805 8156 096
Other technical provision2..........
 
Provisions for other charges10 45810 46710 64910 42811 719
Provisions for pension1 4901 5031 5961 6421 569
Deffered tax7 9217 9217 9617 5457 672
Other provisions for charges1 0461 0431 0911 2412 477
 
Remaning liabilites27 56923 31322 32928 37530 394
Expences accrued1 4291 2711 4311 5841 562
Deffered income100133122312157
Payable tax1 5109721 5022 5111 513
Dividend4 442....4 0015 996
Insurance liabilities5 7895 9654 9274 8266 391
Other liabilities13 98614 61114 14014 42914 500
Financial derivatives312360207713275
 
Total libilities254 716249 518246 203244 265262 935
 
Specifications
Number of companies8383818180
Loan with morgage on dwelling230237229248266

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
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Sum all sectors50 90052 76955 15451 44453 940
 
Non-financial corporations5 9139 9429 6369 2919 427
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government196194191223189
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government33344
Private non-financial incorporated enterprises5 0589 0788 7728 3888 553
Private non-financial unincorporated enterprises656668670677681
Private non-profit institutions serving enterprises..........
 
Financial corporations21 77520 97221 81420 41019 694
Norges Bank..........
Banks2 6482 6712 6692 788306
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies200206237183186
Mutual funds17 12616 27117 19815 63217 345
Investment trusts and private equity funds627658667683678
Other financial enterprises, except insurance companies and pension funds421413288367417
Life insurance companies and pension funds682682682682682
Non-life insurance companies7170737681
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households..........
 
Rest of the world23 21121 85523 70421 74324 819

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
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Sum all sectors98 28995 13795 29194 94597 143
 
Non-financial corporations13 42613 70713 86913 83314 092
Public unincorporated enterprises, owned by central government..........
Public incorporated enterprises, owned by central government1 5331 5961 5061 4611 537
Public unincorporated enterprises, owned by local government..........
Public incorporated enterprises, owned by local government5 0435 3435 3035 2845 205
Private non-financial incorporated enterprises6 8506 7687 0607 0897 350
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations38 96736 15937 32936 11638 492
Norges Bank..........
Banks13 79213 02113 85813 29414 109
Mortgage companies24 86122 87023 20422 63724 197
Finance companies..........
State lending institutions etc...........
Financial holding companies8573734651
Mutual funds..........
Investment trusts and private equity funds..........
Other financial enterprises, except insurance companies and pension funds58454455
Life insurance companies and pension funds41202066
Non-life insurance companies131130129127125
 
General government14 52614 88414 88814 11515 654
Central government5 1535 7855 1104 8096 037
Local government9 3739 1009 7789 3069 617
 
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 world31 37030 38629 20630 88128 906

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
1st quarter 20182nd quarter 20183rd quarter 20184th quarter 20181st quarter 2019
Sum all sectors2 9833 1053 1433 8713 833
 
Non-financial corporations1 9972 0992 1432 7862 777
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 enterprises1 9972 0992 1432 7862 777
Private non-financial unincorporated enterprises..........
Private non-profit institutions serving enterprises..........
 
Financial corporations698713718789739
Norges Bank..........
Banks00000
Mortgage companies..........
Finance companies..........
State lending institutions etc...........
Financial holding companies..........
Mutual funds..........
Investment trusts and private equity funds590593598630658
Other financial enterprises, except insurance companies and pension funds10111311315174
Life insurance companies and pension funds..........
Non-life insurance companies77777
 
General government..........
Central government..........
Local government..........
 
Non-profit institutions serving households..........
 
Households288293282297311
Unincorporated enterprises within households5855514844
Private non-financial unincorporated enterprises inclusive housing cooperatives etc...........
Employees, recipients of property income, pensions and social contributions, students etc.230238231249267
Unspecified sector..........
 
Rest of the world00006

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