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: StÃ¥le Hansen

Number of employees: 298

Credits and strengths rating: 
Standard & Poor's report July 2022: 'A

Solvency and Financial Condition Report (SFCR):
Please see SFCR year-end 2021/22 and Attachment to SFCR 2021/22   
Three-month acounts 2022/23  

  
Previous years:
SFCR year-end 2020/21 and Attachment to SFCR 2020/21 
SFCR year-end 2019/20 and Attachment to SFCR 2019/20  
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  2017/18 2018/19 2019/20 2020/21 2021/22
Gross written premium USD mill  412.7 401.6  390.8 390.8 419.5
Technical result USD mill  11.6 8.0  -35.2 -30.1 -30.3
Result USD mill  48.0 10.7 25.5 24.6 -15
Contingency Reserve USD mill  442.0 452.7 465.8 459.1 430.1
Total assets USD mill  1 070.1 1 040.1 1067.1 1081.0 1116.0
Investment return  7%  0% 5.5% 9.8% -0.4
Combined ratio  97.0% 98% 109% 108% 107%
AER  12.7% 12.8%  13% 12.6% 12.4%
S&P rating  A A  A A A
Policy year          
P&I GT (TW) mill  90 89  93  98 99
Charterers premium USD mill  50 51  54  50 52
Commercial gross premium USD mill 221 197 206 192 218

Release calls:

Policy Year May 2019 Nov 2019 Nov 2020 Nov 2021 Nov 2022
2019/20 15% 15% 10% 7.5% -
2020/21   15% 15% 10% 7.5%
2021/22     15% 15% 10%
2022/23       15% 15%
2023/24         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).