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
Nine-month accounts 2020/21
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).