Skuld today announces a positive result of USD 36 million for the first six months of the 2025/26 financial year, compared with USD 25 million in the same period last year. The result reflects Skuld’s continued progress both in technical performance and investment portfolio.
Highlights:
- Positive result of USD 36 million for the half-year
- Strong investment portfolio return
- Positive technical result
- Continued premium growth
Skuld’s technical result returned to positive at USD 3 million (2024/25 negative USD 30 million), reflecting an improvement of USD 33 million from the same period last year; the technical result also equated to a positive combined ratio of 99%. This was primarily driven by continued growth in premiums and calls, and a normalisation in claims costs compared with 2024/25.
While the half-year technical result was positive, Skuld continues to operate in a challenging claims environment both in the International Group (IG) pooling system and Skuld’s portfolio. Notably, Skuld reported one new pool claim in the first six months of 2025/26.
Skuld’s investment portfolio achieved a positive return of 4.3% in the first half of the year, supported by equities rebounding to record highs and positive contributions from fixed income and currencies as US yields and the US dollar weakened.
Ståle Hansen, president and CEO of Skuld, said: “While we are encouraged by the growth in premium, the ongoing volatility of claims costs highlights the possibility of further rate adjustments. Moreover, we continue to acknowledge the impact of ongoing geopolitical instability on our operations. The global landscape, marked by political tensions and economic uncertainties, poses challenges."
“We remain vigilant and adaptable to these external pressures, helping Skuld’s membership and clients to continue to navigate these turbulent times with careful risk management and robust financial strength.”