Skuld’s 'A' rating affirmed by Standard & Poor’s


Published: 18 July 2022

“Skuld maintains a strong relationship with both its members and brokers due to its strong service fundamentals and recognized brand”, according to S&P.

On 14 July 2022, Standard & Poor's (S&P) ratings services reaffirmed its 'A' rating on Assuranceforeningen Skuld (Gjensidig).

S&P Credit Highlights:

  • Skuld has a strong reputation and market position in the marine and protection and indemnity insurance (P&I) market.
  • The club is likely to return to capital levels above our 'AAA' benchmark in 2022.
  • Although The P&I market will likely remain challenging over the next two years, the club has historically recorded less volatility in results than its P&I club peers.

S&P considers a key risk over the next two years to be the challenging state of the P&I market and have Skuld, together with many of its peers, on a negative outlook.

Please see full report here.