Skuld deal

Skuld has announced SMA/Gerling Norway will be renamed Skuld Marine Agency (SMA) following the company’s acquisition by Skuld. Marketing has now begun for 1 January 2017 renewals on Skuld paper under the new SMA brand. The formal acquisition process should be complete by the end of the year. It gives Skuld renewal rights on SMA/Gerling Norway’s hull and machinery book of business, which covers around 6,000 vessels paying some US$40 million in premiums. Any successful renewals will be insured with Skuld’s own corporate paper and operate separately from Skuld’s syndicate 1897 at Lloyd’s. Skuld 1897 will continue its strategy as before and will not be affected by the acquisition.