Skuld Announces A Healthy Half Yearly Result

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Skuld announces its six month result of USD 9 million.

Skuld, the insurance solution provider has hit this positive result with the support and strong contribution from diversification and a benign claims period.

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Highlights:

  • Continued high-quality growth.
  • Delivers positive underwriting result
  • Shows overall combined ratio of 95%
  • Writes a deficit of USD 0.8 million on net investment income due to
    1. Equity driven volatile financial markets
    2. Change in Norwegian accounting principles
  • Recognises actuarial loss of USD 12 million on pension liabilities
  • The contingency reserve was reduced by USD 12 million.

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Ståle Hansen, Skuld president and CEO, said: “The global shipping market will continue to offer both challenges and opportunities ahead; we note high pressure on premium rates with fierce competition on newbuilds.  Our new income streams through diversification will reduce the pressure for significant premium increases for our mutual members.  Skuld is a truly international organisation and together we make up a very strong, cohesive team that will continue to abide by the Skuld promise of delivering the best service and competence that our members and clients can rely on.”

Source: Skuld

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