Skuld announces 11% growth in 2017 P&I renewals
Skuld, a leading marine insurance provider, today announces a positive outcome from renewals, with an 11% increase in mutual P&I gross tonnage year-on-year from 2016 to 2017, net of de-selections and lost business. Following the renewals, which were completed on 20 February, Skuld’s mutual P&I tonnage now stands at 88.5 million gross tonnes (GT).
In a very competitive market, Skuld continued to grow its global offshore business and also saw growth on blue water contracts in the Nordics, Europe and Asia through the attraction of new mutual business.
Ståle Hansen, Skuld president and CEO, said: “In a very competitive market we are very pleased to conclude a successful renewal and record another increase on our previous year’s gross tonnage. We remain convinced this is due to our service commitment as well as our objective of sustainable growth. We note with pride that our loyal members do not only renew their policies with Skuld but also bring new quality tonnage into the club. With the high quality of our existing members and with some carefully selected new quality entries we have a robust foundation for the future when celebrating our 120th anniversary in 2017.
Contacts:
Haggie Partners
Damian Beeley,
+44 (0)20 7562 4444
damian.beeley@haggie.co.uk
Chanice Smith
Chanice.smith@haggie.co.uk
About Skuld
Skuld is a world leading marine insurance provider with a strong financial position and an ‘A’ rating with Standard & Poor’s. We cater to the needs of shipowners, the offshore and energy sector, charterers and traders, ports and terminals, cargo and the superyacht community.
Skuld was established in 1897 as a P&I club for Scandinavian shipowners. Since then, we have grown into a diversified marine insurer and now offer bespoke covers through Skuld P&I, Skuld SMA and Skuld 1897, a syndicate at Lloyd’s.
With headquarters in Oslo and a worldwide office network of around 270 highly skilled employees, we provide our members and clients with service and competence they can rely on, 24 hours a day.
Transparency policy
Skuld was the first member of the International Group of P&I clubs to publish six-month and nine-month results in addition to its annual review, and has done so since 2003.
Transparent, clear and precise communication with members, clients and brokers, the general public and the media is a priority for Skuld. Our objective is to ensure that all information that is made available by Skuld is accurate and relevant, and we continuously develop our communication with stakeholders.