Skuld says H1 2017 a technical loss, but results have improved since

Norwegian marine insurer Skuld’s underwriting performance for the first half of policy year 2017 showed a technical loss, but the insurer said yesterday morning, November 13th, that results had improved over the past months.

Skuld’s Board of Directors met in Paris on November 9th to discuss the 2018 renewals. As it did last year the Club supported its mutual shipowning members with a credit of 2.5% on individual mutual premiums, which wa effected this month.

Looking ahead to February 20th 2018, Skuld said that the P&I renewals for the next policy would be decided by individual assessments and the Members’ own statistical records for the past five years, but that there would be no general increase and no change in standard deductibles.

The IG excess reinsurance would be adjusted after new reinsurance rates had been agreed.

The release call for Policy Year 2018/19 was set to 15%,