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Norwegian life insurers' value adjusted return at -2.7%

By Adam Cadle

The value adjusted return (including unrealised value changes) of Norwegian life insurance companies in Q1 2022 was -2.7%, down from 5.3% in the same period in 2021, according to the Financial Supervisory Authority of Norway (Finanstilsynet).

Negative developments in international stock markets and a significant rise in interest rates contributed to a negative return on investments.

Corrected for Gjensidige’s sale of Oslo Areal, the non-life sector also recorded a weaker result in Q1 2022 compared to a year earlier. Profit before tax amounted to 5% of premium income for own account. The total result before tax amounted to 31.1% of the premium income for own account, compared to 23.9% in the same period last year.

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Norwegian life insurers' value adjusted return at -2.7%


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