Skuld positive

Skuld has announced a positive bottom line result of US$11 million ($58 million in 2017) for its 2018 financial year ending 20 February 2019, and a total combined ratio of 98 per cent. Gross earned premium in 2018 amounted to $402 million. The result marks continuity in a record-breaking 16th consecutive year during which Skuld has reported a positive underwriting result. The 2018 year saw challenging conditions in global insurance and investment markets. Skuld experienced a handful of large claims, but overall claims frequency remained low, which contributed positively to the 2018/2019 result. However, a high number of large claims submitted to the International Group of P&I Clubs’ joint pool added significantly to 2018/2019 costs.