Skuld continues growth in 2018 P&I renewals
Skuld, a leading marine insurance provider, today announces a positive outcome from renewals, with a 9.4% net increase in mutual P&I gross tonnage from 2017 to 2018, including committed tonnage for delivery throughout 2018. Following the renewals, which were completed on 20 February 2018, Skuld’s mutual P&I tonnage now stands at 92 million gross tonnes (GT).
The P&I market continued to be highly competitive and pressured, leading up to the 2018 renewal. In this environment Skuld continued to develop the global business through 9.4% growth in mutual P&I business. Significant growth was also recorded in all commercial P&I business lines, including charterers, offshore and fixed premium/yachts.
Ståle Hansen, Skuld president and CEO, said: “In a very competitive market we are pleased to conclude a successful renewal in our 121st operating year, and to record another increase on our previous year’s gross tonnage. It is the combined efforts from all our three business platforms, Skuld P&I, Skuld 1897 and Skuld SMA, and the co-ordinated teamwork through shared competence among all our offices and departments that enables us to guarantee the bespoke service level that Skuld stands behind. We are very pleased to offer competitive terms to our loyal membership as well as welcoming new quality members and clients to our organisation.”
“Skuld’s overall focus on sustainable growth through careful selection of quality tonnage contributes to a very strong and robust foundation for further growth in 2018 and beyond, and enables us to continue providing our members, clients and brokers with the service and competence they can rely on.”
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Contacts:
Haggie Partners
Damian Beeley
+44 (0)20 7562 4444
About Skuld
Skuld is a world leading marine insurance provider with a strong financial position and an ‘A’ rating with Standard & Poor’s. We cater to the needs of shipowners, the offshore and energy sector, charterers and traders, ports and terminals, cargo and the superyacht community.
Skuld was established in 1897 as a P&I club for Scandinavian shipowners. Since then, we have grown into a diversified marine insurer and now offer bespoke covers through Skuld P&I, Skuld SMA and Skuld 1897, a syndicate at Lloyd’s.
With headquarters in Oslo and a worldwide office network of around 270 highly skilled employees, we provide our members and clients with service and competence they can rely on, 24 hours a day.
Transparency policy
Skuld was the first member of the International Group of P&I clubs to publish six-month and nine-month results in addition to its annual review and has done so since 2003. Transparent, clear and precise communication with members, clients and brokers, the general public and the media is a priority for Skuld. Our objective is to ensure that all information that is made available by Skuld is accurate and relevant, and we continuously develop our communication with stakeholders.