Insurance Activities 2012

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Insurance Activities 2012

The value of insurance companies' investments stood at

EUR 108.5 billion at the end of 2012

The largest investment activity items in insurance activities are shares and equity, as well as

financial market instruments, e.g. bonds. Other investment objects include real estate investments

and loans. The balance sheet value of investment activities amounted to EUR 108.5 billion at

the end of 2012 and the share of employment pension companies was 69 per cent. The chart

below shows the distribution of investments by item.

Insurance companies' investments 31 December 2012, EUR million

Income from insurance activities are primarily comprised of insurance premiums, net income from

investment activities and other income. The insurance premiums amounted to nearly EUR 20 billion in

2012, a majority of which was generated in employment pension insurance, good EUR 12 billion.

More detailed insurance company specific data can be found in the database tables of these statistics and

from the web pages of other organisations that produce insurance data (link in the left-hand menu under

"Links" of the statistics' home page).

Statistics Finland publishes new statistics on Insurance activities. The statistics cover activity data of

employment pension, life insurance and non-life insurance companies, e.g. profit and loss account, balance

sheet, and classes of insurance and insurance portfolio. The data are based on the Financial Supervision

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Authority's data collection on domestic activities of corporations engaged in the insurance markets. It

should be noted that insurance companies' financial statements and the indicators calculated based on

these differ considerably from the financial statement formula of enterprises operating in other industries.

The financial statement structure differs in many respects between employment pension, life insurance

and non-life insurance companies. The data concerning life insurance and non-life insurance companies

also include branches abroad.

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Tables

Appendix tables

Appendix table 1. Balance sheets of insurance companies 2012, EUR million...4

Appendix tabel 2. Insurance payments and liabilities of employment pension companies 2012...4

Appendix tabel 3. Insurance portfolios of employment pension companies 2012...4

Appendix tabel 4. Insurance payments and liabilities of life insurance companies 2012...6

Appendix tabel 5. Insurance portfolios of life insurance companies 2012...7

Appendix tabel 6. Insurance portfolios and payments of non-life insurance companies 2012...8

Appendix tabel 7. Insurance class-specific data of life insurance companies 2012...9

Appendix tabel 8. Insurance class-specific data of non-life insurance companies 2012...10

Figures

Appendix figures

Appendix figure 1. Distribution of insurance companies' insurance premiums, EUR million...11

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Appendix tables

Appendix table 1. Balance sheets of insurance companies 2012, EUR million

2012 410 Life insurance corporation, incl. branches abroad 420 Non-life insurance corporation, incl. branches abroad 401 Employment pension insurance company 67 154 77 Intangible assets, total

22 426 10 769 75 265 Investments, total 19 116 .. .. Investments covering technical provisions on

unit-linked insurance 270 1 022 4 240 Debtors 965 386 2 278 Other assets, total

229 220

729 Prepayments and accrued income, total

43 073 12 551 82 589 ASSETS 3 055 1 978 346 Capital and reserves/share capital, total

10 13

5 Accumulated appropriations, total

316 115 .. Subordinated loans 19 970 9 886 78 469 Technical provisions, net of reinsurance

19 090 ..

.. Technical provisions for unit-linked policies

.. 9

.. Obligatory provisions, total

.. ..

.. Deposits received from reinsurers

461 309 3 297 Total creditors 171 241 472 Accruals and deferred income

43 073 12 551

82 589 LIABILITIES

Appendix tabel 2. Insurance payments and liabilities of employment pension companies 2012

2012 12 139 981 Paid to pensioners, total

Pension payouts,

1000 EUR Old-age pensions 9 381 905

1 569 832 Disability pensions 87 193 Unemployment pensions 113 431 Part-time pensions 984 919 Survivors pensions 2 701 Funeral allowances 42 777 655 Primary provision for unearned premiums, total

Provision

for _{Basic insurance under the Employees Pensions Act} _{38 906 201} unearned

392 536 Supplementary pension insurance under the Employees Pensions Act

premiums, 1000 EUR

79 931 Insurance based on minimum cover granted by institutions under the Self-employed Persons

Pensions Act

19 731 Supplementary pension insurance under the Self-employed Persons Pensions Act

3 379 256 Additional pension liability

34 991 220 Basic insurance under the Employees Pensions Act

Provision for

669 391 Supplementary pension insurance under the Employees Pensions Act

outstanding

30 321 Supplementary pension insurance under the Self-employed Persons Pensions Act

claims,

1000 EUR _{Provision for outstanding claims, total} _{35 690 933}

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2012 138 768 Basic insurance under the Employees Pensions Act, number of policies

Permanent employment relationships and periods of self-employment, pcs 1 602 067 Basic insurance under the Employees Pensions Act, number of insured persons

891 Supplementary pension insurance under the Employees Pensions Act, number of policies

209 648 Insurance based on minimum cover granted under the Self-employed Persons Pensions Act,

number of policies

112 Supplementary pension insurance under the Self-employed Persons Pensions Act, number

of policies 1 117 087 Pensions started Pensions started, pcs 795 455 Old-age pensions 135 177 Disability pensions 1 954 Unemployment pensions 11 300 Part-time pensions 173 201 Survivors pensions 55 361 Old-age pensions Pensions granted during the financial year, pcs 13 287 Disability pensions 29 Unemployment pensions 2 421 Part-time pensions 9 856 Survivors pensions 80 954 Pensions granted during the financial year

572 074 Old-age pensions Pensions granted during the financial year, 1000 EUR 121 855 Disability pensions 292 Unemployment pensions 22 462 Part-time pensions 39 545 Survivors pensions 756 228 Pensions granted during the financial year

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Appendix tabel 4. Insurance payments and liabilities of life insurance companies 2012

2012 2 802 201 Life insurance, total

Payments due on insurance policies, 1000 EUR 2 748 249 Individual life insurance, total

197 285 Individual life insurance - Death benefits

937 863 Individual life insurance - Benefits paid at expiry of insurance period

1 593 711 Individual life insurance - Surrenders

12 758 Individual life insurance - Benefits paid for permanent disability

6 632 Individual life insurance - Other claims

29 298 Death benefits paid under employees group life insurance

24 654 Other group life insurance, total

2 044 Other group life insurance - Death benefits

1 644 Other group life insurance - Benefits paid for permanent disability

20 965 Other group life insurance - Other claims

1 113 629 Pension insurance, total

766 465 Individual pension insurance, total

632 902 Individual pension insurance - Old-age pensions

23 786 Individual pension insurance - Other claims

109 777 Individual pension insurance - Surrenders

347 163 Group pension insurance, total

332 400 Group pension insurance - Old-age pensions

25 055 Group pension insurance - Other claims

-10 291 Group pension insurance - Surrenders

3 915 830 Benefits paid under direct insurance, total

1 145 Benefits paid under reinsurance, total

3 916 975 Claims paid, total

18 401 720 Life insurance, total

Provision for unearned premiums, 1000 EUR

13 000 437 Pension insurance, total

18 329 710 Individual life insurance

49 868 Employees group life insurance

22 141 Other group life insurance

10 086 336 Individual pension insurance

2 914 100 Group pension insurance

31 402 157 Provision for unearned premiums in direct business, total

763 Provision for unearned premiums in reinsurance, total

31 402 920 Provision for unearned premiums, total

75 862 Reinsurers share of provision for unearned premiums

380 959 Life insurance, total

Provision for outstanding claims (incl. equalisation amount), 1000 EUR 5 107 411 Pension insurance, total

308 504 Individual life insurance

15 436 Employees group life insurance

57 019 Other group life insurance

3 019 547 Group pension insurance

5 488 370 Provision for outstanding claims in direct business, total

3 311 Provision for outstanding claims in reinsurance, total

5 491 681 Provision for outstanding claims, total

-2 400 Reinsurers share of provision for outstanding claims

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Appendix tabel 5. Insurance portfolios of life insurance companies 2012

2012 41 234 281 Individual life insurance

Insurance portfolio at end of year, 1000 EUR 36 860 138 Individual life insurance - Insurance taken for death

4 374 143 Individual life insurance - Other insurance

14 905 351 Group life insurance

14 866 612 Group life insurance - Insurance taken for death

38 739 Group life insurance - Other insurance

3 362 720 Individual pension insurance - Insurance including old-age pension cover

2 541 Individual pension insurance - Insurance including other pension cover

746 188 Group pension insurance

721 151 Group pension insurance - Insurance including old-age pension cover

25 037 Group pension insurance - Insurance including other pension cover

1 902 757 Individual life insurance

Insurance portfolio at end of year, pcs

1 419 700 Individual life insurance - Insurance taken for death

483 057 Individual life insurance - Other insurance

278 569 Group life insurance

252 119 Group life insurance - Insurance taken for death

26 450 Group life insurance - Other insurance

764 216 Individual pension insurance

757 109 Individual pension insurance - Insurance including old-age pension cover

7 107 Individual pension insurance - Insurance including other pension cover

74 925 Group pension insurance - Insurance including old-age pension cover

5 794 Group pension insurance - Insurance including other pension cover

Pensions started at end of year, 1000 EUR 329 275 Group pension insurance

1 051 Individual pension insurance - Other pensions

20 914 Group pension insurance - Survivors pensions

6 075 Group pension insurance - Other pensions

Pensions started at end of year, pcs

865 Individual pension insurance - Other pensions

9 500 Group pension insurance - Survivors pensions

2 453 Group pension insurance - Other pensions

1 602 141 Non unit-linked life insurance (number of policies)

Distribution of insurance by insurance category 220 247 Non unit-linked pension insurance (number of policies)

327 102 Unit-linked life insurance (number of policies)

574 807 Unit-linked pension insurance (number of policies)

1 680 444 Non unit-linked life insurance (number of insured)

313 370 Non unit-linked pension insurance (number of insured)

265 313 Unit-linked life insurance (number of insured)

949 852 Unit-linked pension insurance (number of insured)

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Appendix tabel 6. Insurance portfolios and payments of non-life insurance companies 2012

2012 94 830 230 Insurance portfolio Statutory workers 71 298 292 Insured for occupational accidents

compensation,

1000 EUR Total payroll under general tariff 16 973 323 215 820 Premiums written under general tariff

53 804 093 Total payroll under special tariff

305 056 Premiums written under special tariff

21 082 776 Insured for other accidents

21 011 927 Payroll

70 848 Premium income

1 929 490 Capital of confirmed effective benefits at end of year

1 442 Occupational safety work expenses

480 220 Claims paid, total

93 319 Medical treatment 22 192 Rehabilitation 132 890 Allowances 9 212 Handicap benefit 127 336 Final confirmed pensions

606 Funeral grants and non-recurring compensations in cases of death

59 987 Index increases

-578 Others

38 010 Claims handling expenses

2 749 424 Insurance portfolio

Land vehicles (Kasko), year

2 747 930 Vehicle-specific insurances total

1 790 175 Passenger cars 186 651 Vans 67 569 Trucks 8 645 Buses 118 442 Motorcycles 72 494 Mopeds 50 727 Snowmobiles 167 210 Tractors and power vehicles

218 417 Trailers

67 599 Other vehicles

1 494 Group insurances total

4 240 460 Insurance portfolio

Motor vehicle

liability _{Vehicle-specific insurances total} _{4 238 780} (mandatory 2 252 990 Passenger cars motor vehicle liability _Vans _{257 313} insurance) -87 694 Trucks Insurance

portfolio, year Buses 11 061

176 273 Motorcycles 174 920 Mopeds 68 116 Snowmobiles 337 645 Tractors and power vehicles

761 100 Trailers

111 668 Other vehicles

1 680 Group insurances total

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2012 438 689 Claims paid, total

Motor vehicle liability (mandatory motor vehicle liability insurance) -Claims paid, 1000 EUR 46 904 Medical treatment 27 033 Rehabilitation 38 570 Index increases 230 878 Personal damages, total

35 799 Compensation for reduction in income and livelihood

60 433 Final confirmed continuous benefits

8 136 Benefits paid as lump sum

374 Non-recurring payments for continuous benefits

720 Funeral expenses

8 100 Compensations for pain and suffering

4 809 Other compensations for personal damages

196 934 Property damages, total

168 316 Compensations on motor vehicles

12 260 Lay-day compensations

16 359 Other compensations for property damage

3 859 Legal expenses and organisational expenses

7 017 Compensations paid by the Finnish Motor Insurers Centre

Appendix tabel 7. Insurance class-specific data of life insurance companies 2012

2012

Number of damages reported, pcs Claims paid, 1000 EUR

Premium income, 1000 EUR

424 773 -3 916 975

3 979 763 Life insurance, total

424 773 -3 915 394

3 974 435 Premium income of non-life insurance, total

365 294 -1 956 065 851 354 Life insurance .. .. .. Insurance for marriage and insurance for childbirth

59 264 -944 650 1 775 988 Unit-linked insurance .. .. .. Permanent health insurance

.. .. .. Tontines 215 -997 942 1 293 132 Capital redemption operations

.. ..

.. Management of group pension schemes

-16 737 53 960

Group life and group pension insurance

.. ..

.. Life and pension insurance based on social

insurance legislation

.. -1 581

5 328 Reinsurance for life insurance, total

.. -363 2 684 Domestic reinsurance .. -1 218 2 644 Foreign reinsurance .. .. .. Share of group pension insurance in reinsurance

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Appendix tabel 8. Insurance class-specific data of non-life insurance companies 2012

2012 Number of insured, pcs Number of policies or insurances, pcs Number of damages reported, pcs Claims paid, 1000 EUR Premium income, 1000 EUR .. 16 245 280 1 582 096 -2 605 869 3 608 913 Non-life insurance, total

.. 16 209 515

1 581 546 -2 518 334

3 477 608 Premium income of non-life

insurance, total 1 486 977 202 345 168 298 -457 228 587 409 Statutory accident 454 64 1 369 -4 717 4 106 Accident to athletes 3 157 104 1 458 876 117 989 -75 589 133 565 Other accident 2 066 890 924 634 368 422 -175 467 225 413 Illness .. 2 036 573 372 209 -459 469 624 609 Land vehicles .. .. .. -1 103 Railway rolling stock

.. 4 2 .. 12 Aircraft .. 116 403 6 327 -44 176 66 097 Vessels .. 379 465 33 238 -24 168 51 642 Transportable goods .. 2 381 943 31 526 -261 566 300 699 Fire and natural forces

.. 2 230 401

324 664 -353 008

457 888 Other damages to property

.. 3 050 832

118 303 -441 845

678 193 Motor vehicle liability

.. .. .. -12 .. Aircraft liability .. 4 332 54 -347 1 534 Liability of water transport

vessel .. 1 697 723 23 200 -134 907 191 165 General liability .. 3 437 178 -1 728 12 923 Credit .. 19 525 123 -2 310 20 132 Suretyship .. 132 587 2 792 -40 411 55 110 Other property damage

.. 1 570 371 12 852 -41 385 67 007 Legal expenses .. .. .. .. .. Travel expenses .. 35 765 550 -87 536 131 305 Reinsurance for non-life

insurance, total .. 4 541 26 -28 887 42 303 Domestic reinsurance .. 31 224 524 -58 649 89 002 Foreign reinsurance .. 16 245 280 1 582 096 .. .. Non-life insurance total

.. 16 209 515

1 581 546 ..

.. Premium income of non-life

insurance total .. 35 765 550 .. .. Reinsurance for non-life

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Appendix figures

Appendix figure 1. Distribution of insurance companies' insurance

premiums, EUR million

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Financing and incurance 2013

Inquiries

09 1734 2957

Kristiina Nieminen

09 1734 3330

Kerttu Helin

09 1734 3630

Hilkka Jaatinen

Director in charge:

Leena Storgårds

[email protected]

www.stat.fi

Source: Insurance Activities 2012, Statistics Finland

ISSN 1796-0479 Communication and Information Services, Statistics Finland

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Insurance Activities 2012