First quarter 2011: Satisfactory insurance profits
The Group reported a profit before tax for the quarter of NOK 815.0 million (NOK 344.3 million). The profit from general insurance operations measured by the underwriting result was NOK 50.0 million (NOK -368.7 million). The underwriting result includes major claims of NOK 32.5 million.· Profit before tax: NOK 815.0 million (NOK 344.3 million in first quarter 2010) · Positive development in underwriting result: NOK 50.0 million (-368.7). Combined ratio of 98.8 (109.7). The improvement is mainly due to fewer winter-related claims · Return on financial assets was NOK 779.0 million (836.