Skuld publishes local currency equivalents of IG reinsurance renewal

For the International Group reinsurance renewal, Skuld has published the relevant changes in local currencies. As previously published, the percentage changes  with the IG general excess of loss reinsurance contract for 2018/19 ($ per GT) including Hydra premium, Collective Overspill Cover and excess war risks P&I for the year commencing February 20th 2018 were:


Tonnage Category2018 rate per gt% change from 2017
Dirty tankers$0.5845% -1.85
Clean tankers$0.2626% -1.83
Dry cargo vessels$0.4038% -1.85
Passenger vessels$3.2707% -1.84
Chart tankers$0.2196% -1.83
Chart dries$0.1073% -1.83


Skuld noted that members having policies in other currencies than US dollars would have rates that are affected by the change of exchange rates between US dollar and the currency of the policy. Since Skuld has to pay the reinsurance in US dollars, this has an impact on the reinsurance rates in other currencies:

(2018/19 rates per GT and change in % from 2017/18)

Tankers, persistent4.8066-4.11%4.8480-9.79%3.6209-11.97%0.4869-12.04%0.4318-7.45%
Tankers, nonpersistent2.1595-4.09%2.1781-9.78%1.6268-11.95%0.2187-12.02%0.1940-7.44%
Dry cargo vessels3.3207-4.11%3.3492-9.79%2.5015-11.97%0.3364-12.04%0.2983-7.45%
Passenger vessels26.8967-4.10%27.12819.78%20.2614-11.96%2.7245-12.03%2.4161-7.44%