Skuld today announces a positive result of USD 47 million for the first six months of the 2026/27 financial year, compared with USD 36 million in the same period last year. The result reflected solid technical performance, premium growth and a favourable contribution from the investment portfolio.
Highlights:
- Positive half-year result of USD 47 million
- Technical result of USD 11 million
- Combined ratio of 96%
- Strong investment portfolio return
Skuld's mutual and commercial businesses contributed positively to the half-year result. The technical result amounted to USD 11 million and a combined ratio of 96%, reflecting disciplined underwriting and careful risk selection across the portfolio. Skuld continued to operate in a challenging claims environment and reported one new pool claim during the period.
The investment portfolio delivered a positive return of 2.5% in the first half of the year. Financial markets remained volatile, shaped by geopolitical developments, inflation concerns and higher government borrowing. Equity markets recovered towards record levels, while bond yields and currency movements reflected shifting risk sentiment and fiscal uncertainty.
Ståle Hansen, Skuld president and CEO, said: "We are pleased to report a positive result for the first six months of the 2026/27 financial year, supported by solid technical performance, premium growth and favourable contribution from the investment portfolio."
"The global landscape is highly unpredictable, with geopolitical instability affecting shipping operations, trade patterns, and risk exposure. The hull market remains soft, and we are entering the more weather-exposed half of the year. These conditions underline the importance of continued discipline, financial strength and prudent risk management."
"Skuld's first-half performance and S&P’s reconfirmation of our A rating with a stable outlook demonstrate the resilience of our diversified business model and the quality of our membership and client base. Our focus on sustainable development, service excellence and crew welfare provides a solid foundation for safeguarding our maritime community in the times ahead."