Financing and incurance 2015 Insurance Activities The value of insurance companies' investments stood at EUR 116.2 billion at the end of The balance sheet value of investment activities amounted to EUR 116.2 billion at the end of and the share of employment pension companies was 71 per cent. The balance sheet value of investment activities grew by nearly two per cent from the previous year. These data derive from Statistics Finland s statistics on insurance activities. Insurance companies investment allocation on 31 December, EUR million Income from insurance activities in Income from insurance activities are primarily comprised of insurance premiums, net income from investment activities and other income. Premium income amounted to EUR 23 billion in, of which employment pension companies accounted for 55 per cent, life insurance companies for 26 per cent, and non-life insurance corporations for 19 per cent. Compared to the previous year, life insurance and non-life insurance companies increased their premium income by nine per cent in, for employment pension companies the increase amounted to two per cent while premium income grew to EUR 13 billion. Helsinki 29.10.2015 Quoting is encouraged provided Statistics Finland is acknowledged as the source.
More detailed data on insurance activities 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). The statistics on insurance activities cover activity data of employment pension, life insurance and non-life insurance companies, such as profit and loss account, balance sheet, and classes of insurance and insurance portfolio. The data are based on the Financial Supervision 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. 2
Contents Tables Appendix tables Appendix table 1. Balance sheets of insurance companies, EUR million...4 Appendix tabel 2. Insurance payments and liabilities of employment pension companies...4 Appendix tabel 3. Insurance portfolios of employment pension companies...5 Appendix tabel 4. Insurance payments and liabilities of life insurance companies...6 Appendix tabel 5. Insurance portfolios of life insurance companies...7 Appendix tabel 6. Insurance portfolios and payments of non-life insurance companies...8 Appendix tabel 7. Insurance class-specific data of life insurance companies...9 Appendix tabel 8. Insurance class-specific data of non-life insurance companies...10 Figures Appendix figures Appendix figure 1. Distribution of insurance companies insurance premiums, EUR million...11 3
Appendix tables Appendix table 1. Balance sheets of insurance companies, EUR million Intangible assets, total Investments, total Investments covering technical provisions on unit-linked insurance Debtors Other assets, total Prepayments and accrued income, total ASSETS Capital and reserves/share capital, total Accumulated appropriations, total Subordinated loans Technical provisions, net of reinsurance Technical provisions for unit-linked policies Obligatory provisions, total Deposits received from reinsurers Total creditors Accruals and deferred income LIABILITIES 401 Employment pension insurance company 97 82 341 5 463 2 290 542 90 734 374 6 85 184 4 231 939 90 734 420 Non-life insurance corporation, incl. branches abroad 183 12 978 1 357 571 263 15 352 2 862 11 140 11 595 12 451 280 15 352 410 Life insurance corporation, incl. branches abroad 66 20 853 27 159 489 1 758 233 50 558 2 867 4 360 19 326 27 155 656 189 50 558 Appendix tabel 2. Insurance payments and liabilities of employment pension companies Pension payouts, Provision for unearned premiums, Paid to pensioners, total Old-age pensions Disability pensions Unemployment pensions Part-time pensions Survivors pensions Funeral allowances Primary provision for unearned premiums, total Basic insurance under the Employees Pensions Act Supplementary pension insurance under the Employees Pensions Act Insurance based on minimum cover granted by institutions under the Self-employed Persons Pensions Act Supplementary pension insurance under the Self-employed Persons Pensions Act Additional pension liability 13 584 598 10 990 369 1 476 037 1 345 81 772 1 031 990 3 085 45 500 349 39 857 458 346 984 85 412 5 210 495 Provision Basic insurance under the Employees Pensions Act 38 999 035 for outstanding Supplementary pension insurance under the Employees Pensions Act 640 289 claims, Supplementary pension insurance under the Self-employed Persons Pensions Act 44 647 Provision for outstanding claims, total 39 683 972 4
Appendix tabel 3. Insurance portfolios of employment pension companies Permanent employment relationships and periods of self-employment, pcs Pensions started, pcs Pensions granted during the financial year, pcs Pensions granted during the financial year, Basic insurance under the Employees Pensions Act, number of policies Basic insurance under the Employees Pensions Act, number of insured Supplementary pension insurance under the Employees Pensions Act, number of policies Insurance based on minimum cover granted under the Self-employed Persons Pensions Act, number of policies Supplementary pension insurance under the Self-employed Persons Pensions Act, number of policies Pensions started Old-age pensions Disability pensions Unemployment pensions Part-time pensions Survivors pensions Old-age pensions Disability pensions Unemployment pensions Part-time pensions Survivors pensions Pensions granted during the financial year Old-age pensions Disability pensions Unemployment pensions Part-time pensions Survivors pensions Pensions granted during the financial year 135 953 1 565 384 748 207 764 99 1 137 746 842 040 116 724 13 751 165 231 48 452 11 740 2 278 9 672 72 142 528 685 111 454 20 556 41 585 702 279 5
Appendix tabel 4. Insurance payments and liabilities of life insurance companies Payments due on insurance policies, Provision for unearned premiums, Provision for outstanding claims (incl. equalisation amount), Life insurance, total Individual life insurance, total Individual life insurance - Death benefits Individual life insurance - Benefits paid at expiry of insurance period Individual life insurance - Surrenders Individual life insurance - Benefits paid for permanent disability Individual life insurance - Other claims Death benefits paid under employees group life insurance Other group life insurance, total Other group life insurance - Death benefits Other group life insurance - Benefits paid for permanent disability Other group life insurance - Other claims Pension insurance, total Individual pension insurance, total Individual pension insurance - Old-age pensions Individual pension insurance - Other claims Individual pension insurance - Surrenders Group pension insurance, total Group pension insurance - Old-age pensions Group pension insurance - Other claims Group pension insurance - Surrenders Benefits paid under direct insurance, total Benefits paid under reinsurance, total Claims paid, total Life insurance, total Pension insurance, total Individual life insurance Employees group life insurance Other group life insurance Individual pension insurance Group pension insurance Provision for unearned premiums in direct business, total Provision for unearned premiums in reinsurance, total Provision for unearned premiums, total Reinsurers share of provision for unearned premiums Life insurance, total Pension insurance, total Individual life insurance Employees group life insurance Other group life insurance Individual pension insurance Group pension insurance Provision for outstanding claims in direct business, total Provision for outstanding claims in reinsurance, total Provision for outstanding claims, total Reinsurers share of provision for outstanding claims 2 716 997 2 662 300 252 284 681 677 1 651 703 13 360 63 276 26 684 28 013 7 444 1 136 19 432 1 152 820 777 862 688 449 20 327 69 087 374 958 338 716 24 309 11 933 3 869 817 1 163 3 870 980 26 400 094 14 427 172 26 332 903 43 710 23 481 10 802 577 3 624 595 40 827 266 1 309 40 828 574 416 060 5 299 453 380 627 14 996 20 437 2 287 783 3 011 670 5 715 513 1 443 5 716 956 6
Appendix tabel 5. Insurance portfolios of life insurance companies Insurance portfolio at end of year, 1000 EUR Insurance portfolio at end of year, pcs Pensions started at end of year, 1000 EUR Pensions started at end of year, pcs Distribution of insurance by insurance category Individual life insurance Individual life insurance - Insurance taken for death Individual life insurance - Other insurance Group life insurance Group life insurance - Insurance taken for death Group life insurance - Other insurance Individual pension insurance Individual pension insurance - Insurance including old-age pension cover Individual pension insurance - Insurance including other pension cover Group pension insurance Group pension insurance - Insurance including old-age pension cover Group pension insurance - Insurance including other pension cover Individual life insurance Individual life insurance - Insurance taken for death Individual life insurance - Other insurance Group life insurance Group life insurance - Insurance taken for death Group life insurance - Other insurance Individual pension insurance Individual pension insurance - Insurance including old-age pension cover Individual pension insurance - Insurance including other pension cover Group pension insurance Group pension insurance - Insurance including old-age pension cover Group pension insurance - Insurance including other pension cover Individual pension insurance Group pension insurance Individual pension insurance - Old-age pensions Individual pension insurance - Other pensions Group pension insurance - Old-age pensions Group pension insurance - Survivors pensions Group pension insurance - Other pensions Individual pension insurance Group pension insurance Individual pension insurance - Old-age pensions Individual pension insurance - Other pensions Group pension insurance - Old-age pensions Group pension insurance - Survivors pensions Group pension insurance - Other pensions Non unit-linked life insurance (number of policies) Non unit-linked pension insurance (number of policies) Unit-linked life insurance (number of policies) Unit-linked pension insurance (number of policies) Non unit-linked life insurance (number of insured) Non unit-linked pension insurance (number of insured) Unit-linked life insurance (number of insured) Unit-linked pension insurance (number of insured) 71 878 105 60 768 242 11 109 863 13 183 574 13 143 547 40 027 4 879 494 4 877 407 2 087 928 057 926 611 1 446 1 953 590 1 540 888 412 702 155 037 130 280 24 757 710 011 704 067 5 944 94 980 91 796 3 184 798 990 344 647 798 101 889 319 831 19 321 5 495 82 215 79 775 81 444 771 68 962 9 149 1 664 1 563 929 192 974 330 563 550 710 1 663 446 268 018 269 301 463 877 7
Appendix tabel 6. Insurance portfolios and payments of non-life insurance companies Statutory Insurance portfolio 97 248 893 workers compensation, Insured for occupational accidents 73 115 488 Total payroll under general tariff 17 112 859 Land vehicles (Kasko), year Premiums written under general tariff Total payroll under special tariff Premiums written under special tariff Insured for other accidents Payroll Premium income Capital of confirmed effective benefits at end of year Occupational safety work expenses Claims paid, total Medical treatment Rehabilitation Allowances Handicap benefit Final confirmed pensions Funeral grants and non-recurring compensations in cases of death Index increases Others Claims handling expenses Insurance portfolio Vehicle-specific insurances total Passenger cars Vans Trucks Buses Motorcycles Mopeds Snowmobiles Tractors and power vehicles Trailers Other vehicles Group insurances total 217 064 55 499 300 286 264 21 468 385 21 377 432 90 952 2 155 725 1 508 507 788 97 053 23 096 124 997 10 315 137 605 523 73 891 7 355 3 359 328 3 357 522 2 169 639 222 799 75 682 9 242 140 439 71 711 55 955 269 566 271 648 70 840 1 806 Motor vehicle Insurance portfolio 5 264 063 liability (mandatory Vehicle-specific insurances total 5 262 119 motor vehicle Passenger cars 2 816 806 liability Vans 319 580 insurance) - Insurance Trucks 101 227 portfolio, year, Buses 12 210 pcs Motorcycles 197 695 Mopeds Snowmobiles Tractors and power vehicles Trailers Other vehicles Group insurances total 197 040 68 855 444 448 965 268 138 991 1 944 8
Motor vehicle liability (mandatory motor vehicle liability insurance) - Claims paid, Claims paid, total Medical treatment Rehabilitation Index increases Personal damages, total Compensation for reduction in income and livelihood Final confirmed continuous benefits Benefits paid as lump sum Non-recurring payments for continuous benefits Funeral expenses Compensations for pain and suffering Other compensations for personal damages Property damages, total Compensations on motor vehicles Lay-day compensations Other compensations for property damage Legal expenses and organisational expenses Compensations paid by the Finnish Motor Insurers Centre 486 622 62 096 30 814 42 810 273 172 40 600 70 487 9 689 95 768 10 754 5 059 201 765 175 460 11 913 14 393 2 325 9 360 Appendix tabel 7. Insurance class-specific data of life insurance companies Life insurance, total Premium income of non-life insurance, total Life insurance Insurance for marriage and insurance for childbirth Unit-linked insurance Permanent health insurance Tontines Capital redemption operations Management of group pension schemes Group life and group pension insurance Life and pension insurance based on social insurance legislation Reinsurance for life insurance, total Domestic reinsurance Foreign reinsurance Share of group pension insurance in reinsurance Premium income, 1000 EUR 6 100 400 6 092 432 767 427 2 854 926 2 463 835 6 245 7 968 3 784 4 184 Claims paid, Number of damages reported, pcs -3 870 980-3 869 228-1 741 641-1 668 894-350 250-108 443-1 752-512 -1 239 371 565 371 565 315 105 56 141 263 56 9
Appendix tabel 8. Insurance class-specific data of non-life insurance companies Non-life insurance, total Premium income of non-life insurance, total Statutory accident Accident to athletes Other accident Illness Land vehicles Railway rolling stock Aircraft Vessels Transportable goods Fire and natural forces Other damages to property Motor vehicle liability Aircraft liability Liability of water transport vessel General liability Credit Suretyship Other property damage Legal expenses Travel expenses Reinsurance for non-life insurance, total Domestic reinsurance Foreign reinsurance Premium income, 4 529 130 4 394 148 589 570 4 236 170 172 312 434 786 485 1 000 4 71 800 55 551 456 687 544 611 827 295 2 021 392 013 9 096 17 776 66 265 87 132 134 982 69 434 65 547 Claims paid, 1000 EUR -2 938 659-2 836 622-477 239-4 465-94 203-230 818-521 150-1 -48 384-24 933-318 118-375 384-496 239-1 -381-142 206-1 460-3 186-42 507-55 947-102 037-55 827-46 210 Number of damages reported, pcs 1 875 436 1 874 647 154 354 1 373 179 364 422 016 423 304 8 314 48 046 61 007 407 970 126 504 61 23 996 157 76 3 477 14 628 789 105 684 Number of policies or insurances, pcs 19 844 035 19 730 662 227 917 55 1 626 471 1 112 795 2 309 769 1 5 149 561 424 501 2 338 075 2 580 217 4 322 829 45 273 2 135 067 11 486 6 139 162 959 2 277 542 113 373 122 113 251 Number of insured, pcs 1 602 910 484 4 875 672 3 029 008 10
Appendix figures Appendix figure 1. Distribution of insurance companies insurance premiums, EUR million 11
Financing and incurance 2015 Inquiries Jan Klavus Kerttu Helin Director in charge: Ville Vertanen 029 551 3391 029 551 3330 rahoitusmarkkinat@tilastokeskus.fi www.stat.fi Source: Insurance Activities, Statistics Finland Communication and Information Services, Statistics Finland tel. +358 29 551 2220 www.stat.fi Publication orders, Edita Publishing Oy tel. +358 20 450 05 www.editapublishing.fi ISSN 1796-0479 = Official Statistics of Finland ISSN 2341-7625 (pdf)