Fremtind Forsikring AS

Solvency and Financial Condition

Report

Disclosures

31 December

2023

(Monetary amounts in NOK thousands)

General information

Undertaking name

Undertaking identification code

Type of code of undertaking

Type of undertaking

Country of authorisation

Language of reporting

Reporting reference date

Currency used for reporting

Accounting standards

Method of Calculation of the SCR

Use of undertaking specific parameters

Ring-fenced funds

Matching adjustment

Volatility adjustment

Transitional measure on the risk-free interest rate

Transitional measure on technical provisions

Exemption of reporting ECAI information

List of reported templates

S.02.01.02 - Balance sheet

S.05.01.02 - Premiums, claims and expenses by line of business S.17.01.02 - Non-Life Technical Provisions

S.19.01.21 - Non-Life insurance claims

S.22.01.21 - Impact of long term guarantees measures and transitionals S.23.01.01 - Own Funds

S.25.01.21 - Solvency Capital Requirement - for undertakings on Standard Formula

S.28.01.01 - Minimum Capital Requirement - Only life or only non-life insurance or reinsurance activity

Fremtind Forsikring AS LEI/HSA1LEEL3Z4C0T5M5X84

LEI Non-life undertakings

NO en 31 desember 2023

NOK Local GAAP Standard formula

Don't use undertaking specific parameters Not reporting activity by RFF No use of matching adjustment Use of volatility adjustment

No use of transitional measure on the risk-free interest rate No use of transitional measure on technical provisions Not exempted

S.02.01.02

Balance sheet

Solvency II

value

Assets

C0010

R0030

Intangible assets

-

R0040

Deferred tax assets

-

R0050

Pension benefit surplus

1.466

R0060

Property, plant & equipment held for own use

181.435

R0070

Investments (other than assets held for index-linked and unit-linked contracts)

14.941.644

R0080

Property (other than for own use)

-

R0090

Holdings in related undertakings, including participations

5.845.064

R0100

Equities

214.673

R0110

Equities - listed

214.673

R0120

Equities - unlisted

-

R0130

Bonds

7.108.729

R0140

Government Bonds

1.401.651

R0150

Corporate Bonds

5.707.078

R0160

Structured notes

-

R0170

Collateralised securities

-

R0180

Collective Investments Undertakings

1.562.096

R0190

Derivatives

81.219

R0200

Deposits other than cash equivalents

129.862

R0210

Other investments

-

R0220

Assets held for index-linked and unit-linked contracts

-

R0230

Loans and mortgages

423.738

R0240

Loans on policies

-

R0250

Loans and mortgages to individuals

-

R0260

Other loans and mortgages

423.738

R0270

Reinsurance recoverables from:

93.913

R0280

Non-life and health similar to non-life

93.913

R0290

Non-life excluding health

72.777

R0300

Health similar to non-life

21.136

R0310

Life and health similar to life, excluding index-linked and unit-linked

-

R0320

Health similar to life

-

R0330

Life excluding health and index-linked and unit-linked

-

R0340

Life index-linked and unit-linked

-

R0350

Deposits to cedants

-

R0360

Insurance and intermediaries receivables

110.078

R0370

Reinsurance receivables

-0

R0380

Receivables (trade, not insurance)

97.487

R0390

Own shares (held directly)

-

R0400

Amounts due in respect of own fund items or initial fund called up but not yet paid in

-

R0410

Cash and cash equivalents

515.055

R0420

Any other assets, not elsewhere shown

1.195.096

R0500

Total assets

17.559.911

S.02.01.02

Balance sheet

Solvency II

value

Liabilities

C0010

R0510

Technical provisions - non-life

6.909.136

R0520

Technical provisions - non-life (excluding health)

5.887.373

R0530

TP calculated as a whole

-

R0540

Best Estimate

5.418.354

R0550

Risk margin

469.019

R0560

Technical provisions - health (similar to non-life)

1.021.763

R0570

TP calculated as a whole

-

R0580

Best Estimate

941.050

R0590

Risk margin

80.713

R0600

Technical provisions - life (excluding index-linked and unit-linked)

-

R0610

Technical provisions - health (similar to life)

-

R0620

TP calculated as a whole

-

R0630

Best Estimate

-

R0640

Risk margin

-

R0650

Technical provisions - life (excluding health and index-linked and unit-linked)

-

R0660

TP calculated as a whole

-

R0670

Best Estimate

-

R0680

Risk margin

-

R0690

Technical provisions - index-linked and unit-linked

-

R0700

TP calculated as a whole

-

R0710

Best Estimate

-

R0720

Risk margin

-

R0730

Other technical provisions

-

R0740

Contingent liabilities

-

R0750

Provisions other than technical provisions

-

R0760

Pension benefit obligations

20.184

R0770

Deposits from reinsurers

-

R0780

Deferred tax liabilities

270.958

R0790

Derivatives

7.777

R0800

Debts owed to credit institutions

-

R0810

Financial liabilities other than debts owed to credit institutions

-

R0820

Insurance & intermediaries payables

158.259

R0830

Reinsurance payables

-

R0840

Payables (trade, not insurance)

250.278

R0850

Subordinated liabilities

250.000

R0860

Subordinated liabilities not in BOF

-

R0870

Subordinated liabilities in BOF

250.000

R0880

Any other liabilities, not elsewhere shown

1.788.096

R0900

Total liabilities

9.654.687

R1000

Excess of assets over liabilities

7.905.224

S.05.01.02

Premiums, claims and expenses by line of business

Non-life

Line of Business for: non-life insurance and reinsurance obligations (direct business and accepted proportional reinsurance)

Line of business for: accepted non-proportional

reinsurance

Medical

Income

Workers'

Motor vehicle

Marine,

Fire and other

Credit and

Other motor

aviation and

damage to

General liability

Legal expenses

Miscellaneous

expense

protection

compensation

liability

suretyship

Assistance

insurance

transport

property

insurance

insurance

financial loss

insurance

insurance

insurance

insurance

insurance

insurance

insurance

C0010

C0020

C0030

C0040

C0050

C0060

C0070

C0080

C0090

C0100

C0110

C0120

AR0109

Premiums written

R0110

Gross - Direct Business

306.047

150.550

122.732

1.565.827

3.235.284

174.300

4.679.657

137.401

0

0

1.135.650

455.418

R0120

Gross - Proportional reinsurance accepted

0

0

0

0

0

0

0

0

0

0

0

0

R0130

Gross - Non-proportional reinsurance accepted

R0140

Reinsurers' share

375

204

216

1.527

3.101

129

99.123

2.327

0

0

2.501

836

R0200

Net

305.672

150.347

122.516

1.564.300

3.232.183

174.171

4.580.534

135.074

0

0

1.133.149

454.583

AR0209

Premiums earned

R0210

Gross - Direct Business

303.610

149.566

120.179

1.521.347

3.088.616

169.292

4.533.135

126.961

0

0

1.107.463

377.595

R0220

Gross - Proportional reinsurance accepted

0

0

0

0

0

0

0

0

0

0

0

0

R0230

Gross - Non-proportional reinsurance accepted

R0240

Reinsurers' share

375

204

216

1.527

7.602

271

139.254

2.327

0

0

3.002

836

R0300

Net

303.236

149.363

119.962

1.519.820

3.081.014

169.021

4.393.880

124.634

0

0

1.104.462

376.759

AR0309

Claims incurred

R0310

Gross - Direct Business

170.676

43.054

78.906

764.460

2.581.534

100.413

4.374.758

3.108

0

0

705.820

264.135

R0320

Gross - Proportional reinsurance accepted

0

0

0

0

0

0

0

0

0

0

0

0

R0330

Gross - Non-proportional reinsurance accepted

R0340

Reinsurers' share

0

0

-1.757

4.749

32.142

625

187.005

2.134

0

0

1.885

0

R0400

Net

170.676

43.054

80.663

759.711

2.549.392

99.789

4.187.753

974

0

0

703.935

264.135

R0550

Expenses incurred

122.988

60.094

42.931

452.440

954.286

47.612

1.233.539

50.383

0

0

337.647

143.151

R1210

Balance - other technical expenses/income

R1300

Total technical expenses

Marine,

Total

Health

Casualty

aviation,

Property

transport

C0130

C0140

C0150

C0160

C0200

11.962.868

0

0

0

0

0

0

0

0

0

0

110.338

0

0

0

0

11.852.529

11.497.764

0

0

0

0

0

0

0

0

0

0

155.614

0

0

0

0

11.342.150

9.086.864

0

0

0

0

0

0

0

0

0

0

226.782

0

0

0

0

8.860.082

0

0

0

0

3.445.071

26.565

3.471.635

S.17.01.02

Non-Life Technical Provisions

Direct business and accepted proportional reinsurance

Accepted non-proportional reinsurance

R0010 Technical provisions calculated as a whole

Total Recoverables from reinsurance/SPV and Finite Re after the

R0050 adjustment for expected losses due to counterparty default associated to TP calculated as a whole

Technical provisions calculated as a sum of BE and RM

Best estimate

Premium provisions

R0060Gross

Total recoverable from reinsurance/SPV and Finite Re

R0140

after the adjustment for expected losses due to

counterparty default

R0150

Net Best Estimate of Premium Provisions

Claims provisions

R0160

Gross

Total recoverable from reinsurance/SPV and Finite Re

R0240

after the adjustment for expected losses due to

counterparty default

R0250

Net Best Estimate of Claims Provisions

R0260 Total best estimate - gross

R0270 Total best estimate - net

R0280 Risk margin

Technical provisions - total

R0320 Technical provisions - total

Recoverable from reinsurance contract/SPV and

R0330Finite Re after the adjustment for expected losses due to counterparty default - total

R0340

Technical provisions minus recoverables from reinsurance/SPV

and Finite Re - total

Income

Workers'

Motor vehicle

Marine, aviation

Fire and other

Medical expense

Other motor

damage to

General liability

protection

compensation

liability

and transport

insurance

insurance

property

insurance

insurance

insurance

insurance

insurance

insurance

C0020

C0030

C0040

C0050

C0060

C0070

C0080

C0090

8.859

-10.898

-510

-230.616

439.288

5.516

455.948

4.793

-1.114

-1.083

-835

-1.741

-3.531

-230

-111.416

-155

9.972

-9.815

325

-228.875

442.819

5.747

567.363

4.949

445.700

179.987

317.913

519.959

589.698

33.581

2.836.166

87.564

0

0

24.168

9.576

27.386

597

158.261

975

445.700

179.987

293.745

510.383

562.312

32.984

2.677.904

86.590

454.559

169.089

317.402

289.343

1.028.986

39.097

3.292.113

92.358

455.673

170.172

294.070

281.508

1.005.130

38.730

3.245.268

91.538

39.981

14.931

25.802

24.699

88.190

3.398

284.738

8.032

494.539

184.020

343.204

314.042

1.117.176

42.495

3.576.851

100.389

-1.114

-1.083

23.333

7.835

23.856

367

46.845

819

495.653

185.103

319.871

306.207

1.093.320

42.129

3.530.006

99.570

Credit and suretyship insurance

C0100

Non-

Non-

Legal expenses

Assistance

Miscellaneous

proportional

proportional

insurance

financial loss

health

casualty

reinsurance

reinsurance

C0110

C0120

C0130

C0140

C0150

0

0

2.504

294.989

0

0

-8.221

-113

0

0

10.725

295.103

0

0

280.263

98.701

0

0

1.390

0

0

0

278.873

98.701

0

0

282.767

393.691

0

0

289.598

393.804

0

0

25.409

34.552

0

0

308.176

428.243

0

0

-6.831

-113

0

0

315.007

428.356

Non-

Non-

proportional

proportional

marine, aviation

property

and transport

reinsurance

reinsurance

C0160

C0170

Total Non-Life

obligation

C0180

969.873

-128.440

1.098.313

5.389.531

222.353

5.167.178

6.359.405

6.265.492

549.731

6.909.136

93.913

6.815.223

S.19.01.21

Non-Life insurance claims

Total Non-life business

Z0020

Accident year / underwriting year

Accident Year

Gross Claims Paid (non-cumulative)

(absolute amount)

C0010

C0020

C0030

C0040

C0050

C0060

C0070

C0080

C0090

C0100

C0110

C0170

C0180

Year

Development year

In Current year

Sum of years

0

1

2

3

4

5

6

7

8

9

10 & +

(cumulative)

R0100

Prior

35.655

35.655

35.655

R0160

2014

2.628.972

1.003.097

182.567

105.316

69.217

26.145

39.750

20.118

2.528

7.608

7.608

4.085.318

R0170

2015

2.726.147

991.191

217.856

101.569

73.701

41.921

45.665

7.053

13.114

13.114

4.218.216

R0180

2016

2.908.995

1.027.293

204.916

114.579

60.162

31.445

16.834

13.930

13.930

4.378.155

R0190

2017

2.938.580

1.195.480

269.529

105.023

77.191

67.000

51.702

51.702

4.704.505

R0200

2018

3.436.201

1.431.009

266.146

101.472

60.067

59.328

59.328

5.354.223

R0210

2019

3.792.678

1.486.087

281.513

113.295

80.334

80.334

5.753.906

R0220

2020

4.038.586

1.403.842

199.820

107.182

107.182

5.749.430

R0230

2021

3.576.474

1.475.325

302.326

302.326

5.354.125

R0240

2022

4.113.994

2.012.461

2.012.461

6.126.455

R0250

2023

5.196.444

5.196.444

5.196.444

R0260

Total

7.880.083

50.956.432

Gross Undiscounted Best Estimate Claims Provisions

(absolute amount)

C0360

C0200

C0210

C0220

C0230

C0240

C0250

C0260

C0270

C0280

C0290

C0300

Year end

Year

Development year

(discounted

0

1

2

3

4

5

6

7

8

9

10 & +

data)

R0100

Prior

107.125

168.849

R0160

2014

510.556

348.530

231.611

103.792

70.352

45.277

34.778

21.705

29.880

R0170

2015

785.018

489.770

343.391

159.786

105.505

67.844

50.199

35.947

37.973

R0180

2016

1.852.164

692.702

402.657

197.325

141.241

91.535

64.334

58.554

61.734

R0190

2017

2.015.448

707.675

345.592

260.094

165.376

105.534

76.419

100.233

R0200

2018

2.115.113

688.240

394.230

244.692

156.229

109.417

160.842

R0210

2019

2.283.401

668.185

386.272

233.259

186.310

167.405

R0220

2020

2.259.066

636.237

385.335

297.745

269.275

R0230

2021

2.180.581

691.502

354.479

323.263

R0240

2022

2.765.407

796.567

744.694

R0250

2023

3.708.624

3.517.765

R0260

Total

5.581.913

S.22.01.21

Impact of long term guarantees measures and transitionals

Impact of the LTG measures and transitionals (Step-by-sted approach)

Amount with Long Term

Guarantee measures and

Impact of

Impact of

Impact of

Impact of

transitionals

transitional on technical

transitional on

volatility adjustment

matching adjustment

provisions

interest rate

set to zero

set to zero

C0010

C0030

C0050

C0070

C0090

R0010

Technical provisions

6.909.136

0

0

39.568

0

R0020

Basic own funds

7.567.224

0

0

-29.145

0

R0050

Eligible own funds to meet Solvency Capital Requirement

7.567.224

0

0

-29.145

0

R0090

Solvency Capital Requirement

3.972.023

0

0

2.630

0

R0100

Eligible own funds to meet Minimum Capital Requirement

6.732.781

0

0

-28.445

0

R0110

Minimum Capital Requirement

1.580.405

0

0

3.503

0

S.23.01.02

Own Funds

Basic own funds before deduction for participations in other financial sector as foreseen in article 68 of Delegated Regulation 2015/35

Total

Tier 1

Tier 1

Tier 2

Tier 3

unrestricted

restricted

C0010

C0020

C0030

C0040

C0050

R0010

Ordinary share capital (gross of own shares)

2.447

2.447

R0030

Share premium account related to ordinary share capital

4.318.288

4.318.288

R0040

Initial funds, members' contributions or the equivalent basic own - fund item for mutual and mutual-type undertakings

0

R0050

Subordinated mutual member accounts

0

R0070

Surplus funds

0

R0090

Preference shares

0

R0110

Share premium account related to preference shares

0

R0130

Reconciliation reserve

1.965.284

1.965.284

R0140

Subordinated liabilities

250.000

250.000

0

R0160

An amount equal to the value of net deferred tax assets

0

0

R0180

Other own fund items approved by the supervisory authority as basic own funds not specified above

1.031.204

130.680

0

900.524

0

R0220

Own funds from the financial statements that should not be represented by the reconciliation reserve and do not meet the criteria to be classified as Solvency II own funds

0

R0230

Deductions for participations in financial and credit institutions

0

R0290

Total basic own funds after deductions

7.567.224

6.416.700

0

1.150.524

0

Ancillary own funds

R0300

Unpaid and uncalled ordinary share capital callable on demand

0

R0310

Unpaid and uncalled initial funds, members' contributions or the equivalent basic own fund item for mutual and mutual - type undertakings, callable on demand

0

R0320

Unpaid and uncalled preference shares callable on demand

0

R0330

A legally binding commitment to subscribe and pay for subordinated liabilities on demand

0

R0340

Letters of credit and guarantees under Article 96(2) of the Directive 2009/138/EC

0

R0350

Letters of credit and guarantees other than under Article 96(2) of the Directive 2009/138/EC

0

R0360

Supplementary members calls under first subparagraph of Article 96(3) of the Directive 2009/138/EC

0

R0370

Supplementary members calls - other than under first subparagraph of Article 96(3) of the Directive 2009/138/EC

0

R0390

Other ancillary own funds

0

R0400

Total ancillary own funds

0

Available and eligible own funds

R0500

Total available own funds to meet the SCR

7.567.224

6.416.700

0

1.150.524

0

R0510

Total available own funds to meet the MCR

7.567.224

6.416.700

0

1.150.524

R0540

Total eligible own funds to meet the SCR

7.567.224

6.416.700

0

1.150.524

0

R0550

Total eligible own funds to meet the MCR

6.732.781

6.416.700

0

316.081

R0580

SCR

3.972.023

R0600

MCR

1.580.405

R0620

Ratio of Eligible own funds to SCR

191 %

R0640

Ratio of Eligible own funds to MCR

426 %

Reconcilliation reserve

C0060

R0700

Excess of assets over liabilities

7.905.224

R0710

Own shares (held directly and indirectly)

0

R0720

Foreseeable dividends, distributions and charges

588.001

R0730

Other basic own fund items

5.351.940

R0740

Adjustment for restricted own fund items in respect of matching adjustment portfolios and ring fenced funds

0

R0760

Reconciliation reserve

1.965.284

S.25.01.21

Solvency Capital Requirement - for undertakings on Standard Formula

Gross solvency capital

requirement

C0110

R0010

Market risk

2.311.568

R0020

Counterparty default risk

141.216

R0030

Life underwriting risk

0

R0040

Health underwriting risk

293.740

R0050

Non-life underwriting risk

3.287.969

R0060

Diversification

-1.446.655

R0070

Intangible asset risk

0

R0100

Basic Solvency Capital Requirement

4.587.839

Calculation of Solvency Capital Requirement

C0100

R0130

Operational risk

344.933

R0140 Loss-absorbing capacity of technical provisions

0

R0150

Loss-absorbing capacity of deferred taxes

-960.748

R0160

Capital requirement for business operated in accordance with Art. 4 of Directive 2003/41/EC

0

R0200

Solvency Capital Requirement excluding capital add-on

3.972.023

R0210 Capital add-ons already set

0

R0220

Solvency capital requirement

3.972.023

Other information on SCR

R0400

Capital requirement for duration-based equity risk sub-module

0

R0410

Total amount of Notional Solvency Capital Requirements for remaining part

0

R0420

Total amount of Notional Solvency Capital Requirements for ring fenced funds

0

R0430

Total amount of Notional Solvency Capital Requirements for matching adjustment portfolios

0

R0440

Diversification effects due to RFF nSCR aggregation for article 304

0

USPSimplifications

C0090C0120

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SpareBank 1 SR-Bank ASA published this content on 01 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2024 11:48:01 UTC.