Facts & Figures

Main products:

  • Owners' Mutual P&I and Defence
  • Hull and Machinery plus ancillary products including Loss of Hire
  • Charterers' Liability and Defence
  • Skuld Yacht P&I
  • Skuld Fixed P&I
  • Offshore P&I and Offshore Energy products including liability and physical damage   

Offices:

Oslo (Head Office), Bergen, Copenhagen, Hamburg, Hong Kong, London, New York, Piraeus, Bermuda and Singapore

President and CEO: Ståle Hansen

Number of employees: 285

Credits and strengths rating: 
Standard & Poor's report October 2019: 'A' Stable Outlook

Solvency and Financial Condition Report (SFCR):
Please see SFCR year-end 2018/19 and Attachment to SFCR 2018/19  
(Previous year: SFCR year-end 2017/18 and Attachment to SFCR 2017/18)
  

5 year summary:

Financial year  2014/15  2015/16  2016/17 2017/18 2018/19
Gross written premium USD mill  411.2 414.8 389.7 412.7 401.6
Technical result USD mill  0.8 26.9 13.9 11.6 8.0
Result USD mill  13.1 13.0 45.8 48.0 10.7
Contingency Reserve USD mill  335.2 348.2 394.1 442.0 452.7
Total assets USD mill  903.7 918.6 1 000.5 1 070.1 1 040.1
Investment return  1.9% -1.6% 3.4% 7%  0%
Combined ratio  99.8%  95.0% 98.0% 97.0% 98%
AER  12.9%  12.8% 12.8% 12.7% 12.8%
S&P rating  A A A A A
Policy year          
P&I GT (TW) mill  74 78 85 90 89
Charterers premium USD mill  55 51 43 50 51

 

Release calls:

Policy Year  Nov 2016 May 2017 Nov 2017 May 2018 Nov 2018 May 2019 Nov 2019
 2016/17  4% 7.5% 7.5% 3%  3% -  -
 2017/18  5% 15% 15% 7.5%  7.5% 3% 3%
2018/19      15% 15%  15% 7.5% 7:5%
2019/20         15% 15% 15%
2020/21             15%

 
Skuld P&I and Skuld 1897 are approved eligible surplus lines insurers in the US - NAIC IID List, see link.

For further information, please see Annual Reviews and Accounts (including six-month and nine-month reports).

- Owners' Mutual P&I and Defence, 

  • Hull and Machinery plus ancillary products including Loss of Hire, 
  • Charterers' Liability and Defence,
  • Skuld Yachts,
  • Skuld Fixed P&I,
  • Offshore Liability and Energy.