The financial results of the Icelandic insurance companies in 2006
The profits of the Icelandic non-life insurance companies were ca. 19,5 billion ISK in 2006 against 20,2 billion ISK in 2005. About 85% of the profits in 2006 is from investments activities. The returns of the insurance activities improved from 2005 the main reason being an increase in premiums. The assets of the non-life insurance companies increased between 2005 and 2006 and are where about 156 billion ISK in end of year 2006 but were about 128 billion ISK in 2005.
The Icelandic Financial Supervisory Authority (FME) has published on its website figures which shows segmentation of insurance classes and annual reports in 2006 for the Icelandic insurance companies, which are based on information from them. FME publishes the results of these insurance companies with notice that the information from them are correct.
The returns of the Icelandic life-insurance companies has improved from last year. The profit in 2006 was 1,5 billion ISK against 900 million ISK in 2005. About 86% of the profits in 2006 is from their life-insurance field which is much better than last year. The main reason for this is increase in disease insurance premiums in 2006. The assets of the life-insurance companies have increased a little between years and are now about 14,7 billion ISK but were 12,2 billion ISK in 2005. The life-insurance companies are all owned by one of the non-life insurance companies or other companies on the financial market.
Figures:
Figures from the annual accounts
Segmentation of insurance classes
For further information please contact Sigurður Freyr Jónatansson (sigurdur@fme.is) or Kristinn Bjarnason (kristinn@fme.is).