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Closing meeting for acquisition of SMA/Gerling Norway, now rebranded to Skuld Marine Agency

Corporate circular

Skuld is pleased to report that on 12 January 2017, the closing of the share purchase agreement for Skuld Marine Agency (SMA) was completed. Skuld is now formally the owner of 100% of the shares of SMA free of any encumbrances. This was the final step of the acquisition process and there are no further outstanding matters between the parties.

SMA has operated as an agent for Skuld since November 2016 for renewals attaching from 1 January 2017. Skuld is pleased to announce that 100% of SMA's clients renewing at 1 January have accepted to renew on Skuld paper.