Non-life insurance pay out compensation for claims that may arise for example in connection with a car accident, a water leak in the home or if the person insured is the victim of theft. A person may also be indemnified if they fall ill or have an accident that affects their working capacity and ability to earn an income.
In 2021 a total of almost SEK 67 billion was paid by non-life insurance companies for claims incurred. More than half (59%) of these payments were for claims that occurred in 2021, while the other half was for claims occurring in previous years. The reason for the payment delay is partly that some types of claims, such as fire and traffic claims, can take a long time to investigate, partly because damage claims can arise some time after the damage occurred. Compensation may also be paid in the form of an annuity for a person who suffers impaired working capacity due to a traffic injury or occupational injury. The annuity is to compensate for future loss of income.
The largest part of the compensation paid in 2021 was for claims linked to motor third party liability insurance and motor vehicle insurance. These claims accounted for more than a quarter (28 per cent) of the compensation paid. After this came claims linked to sickness, accident and healthcare insurance (17 per cent) and home and house insurance (14 per cent). Compensation is also paid to businesses for various business insurance and property insurance claims. Compensation paid to businesses accounted for 16 per cent (SEK 10.4 billion) of total compensations paid out in 2021. The remainder, totaling 84 percent (SEK 56.5 billion), was paid to households.
Payments were reduced in 2020 and 2021 as the number of claims decreased during the pandemic. It was primarily claims for the travel supplement of home and house insurance, as well as claims for traffic and motor vehicle insurance, that decreased during this time.
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