Facts & Figures

Main products:
Owners' Mutual P&I and Defence, Charterers' Liability and Defence, Skuld Yachts, Skuld Fixed P&I, Offshore Liability. Through Skuld Marine Agency: Hull and Machinery, Increased Value/Hull Interest, Freight Interest, War Risks, Loss of Hire and Building Risks. Through Skuld 1897, our Syndicate at Lloyd's: Hull and Machinery, Energy, Cargo, Ports and Terminals and Marine Liabilities.

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

President and CEO: Ståle Hansen

Number of employees: 270

Credits and strengths rating: 
Standard & Poor's report August 2017: 'A' Stable Outlook

Solvency and Financial Condition Report (SFCR):

Please see SFCR as of 21 August 2017 and Attachment to SFCR.

 

5 year summary:

Financial year  2013/14 2014/15  2015/16  2016/17 2017/18
Gross written premium USD mill   379.4 411.2 414.8 389.7 412.7
Technical result USD mill   4.0 0.8 26.9 13.9 11.6
Result USD mill  29.1  13.1 13.0 45.8 48.0
Contingency Reserve USD mill  334.5  335.2 348.2 394.1 442.0
Total assets USD mill  856.0  903.7 918.6 1,000.5 1,070.1
Investment return  5.4% 1.9% -1.6% 3.4% 7%
Combined ratio  98.8%  99.8%  95.0% 98.0% 97.0%
AER  12.3%  12.9%  12.8% 12.8% 12.7%
S&P rating  A A A A
Policy year          
P&I GT (TW) mill  75  74 78 85 90
Charterers premium USD mill  57 50 50 38 43

Share of pool:  4.7%

Release calls:

Policy Year Aug 2011 Aug 2012 Aug 2013 May 2014 Nov 2014  Aug 2015  Nov 2016 Sep 2017
2009/10  10% - - - - - - -
2010/11  25% 5% - - - - - -
2011/12  25% 7.5% 3% 0% - - - -
2012/13    15% 8% 0% 0% - - -
2013/14      14% 0% 0% 0% - -
2014/15        15% 10% 5% 0% -
2015/16          15% 15% 3% 3%
 2016/17              4% 7.5%
 2017/18              5% 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).