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 July 2020: 'A' Stable Outlook

Solvency and Financial Condition Report (SFCR):
Please see SFCR year-end 2019/20 and Attachment to SFCR 2019/20
Previous years:
SFCR year-end 2018/19 and Attachment to SFCR 2018/19  
SFCR year-end 2017/18 and Attachment to SFCR 2017/18
  

5 year summary:

Financial year  2015/16  2016/17 2017/18 2018/19 2019/20
Gross written premium USD mill  414.8 389.7 412.7 401.6  390.8
Technical result USD mill  26.9 13.9 11.6 8.0  -35.2
Result USD mill  13.0 45.8 48.0 10.7 25.5
Contingency Reserve USD mill  348.2 394.1 442.0 452.7 465.8
Total assets USD mill  918.6 1 000.5 1 070.1 1 040.1 1067.1
Investment return  -1.6% 3.4% 7%  0% 5.5%
Combined ratio  95.0% 98.0% 97.0% 98% 109%
AER  12.8% 12.8% 12.7% 12.8%  13%
S&P rating  A A A A  A
Policy year          
P&I GT (TW) mill  78 85 90 89  93
Charterers premium USD mill  51 43 50 51  54

 

Release calls:

Policy Year Nov 2017 May 2018 Nov 2018 May 2019 Nov 2019 Nov 2020
 2017/18  15% 7.5%  7.5% 3% 3% -
2018/19  15% 15%  15% 7.5% 7.5% 7.5%
2019/20     15% 15% 15% 10%
2020/21         15% 15%
2021/22           15%

 
Skuld is an approved eligible surplus lines insurer in the US - NAIC IID List, see link.

For further information, please see our Financial Reports page (Annual Reviews and Accounts, including half year and nine-month reports).