RiverStone acquires run-off Skuld Syndicate 1897Lloyd’s legacy specialist RiverStone Group is to acquire the defunct Skuld Syndicate 1897 via the sale of the corporate members that capitalised the previously loss-making syndicate.
Skuld swings to U/W red in fiscal 2020 with 109% CRScandinavian P&I Club Skuld has posted a combined ratio of 109 percent for the 2019/2020 fiscal year, with the result impacted by costs associated with previous year closure of Skuld’s Lloyd’s syndicate 1897.
Skuld reshuffles London leadershipSkuld has promoted Matthew Burton to the role of senior vice-president and head of business for London, with plans for London-based chief business development officer Gregory Thomas to relocate to the P&I club’s Oslo headquarters.
Skuld sees P&I tonnage increase by 4.6%Norwegian marine insurer Skuld recorded a 4.6 percent net increase in mutual P&I gross tonnage year-on-year from 2019 to 2020.
Failed Skuld syndicate falls to £38.6mn Solvency II deficitThe two corporate members of defunct Skuld Syndicate 1897 – which are currently being marketed for sale after the Lloyd’s insurer went into run-off last year – had a combined £38.6mn ($50.2mn) Solvency II deficit by Q4 2019, The Insurer can reveal.
Skuld sees interim profit fall by 86% as claims spikeNorwegian marine insurer Skuld has seen net income for the first six months of the 2019/20 policy year fall by 86 percent to $2mn after suffering a significant deterioration in its combined ratio compared to the prior year period.
Tokio Marine HCC bolsters marine liability team with Skuld’s KnightonSpecialty insurer Tokio Marine HCC has named Paul Knighton as marine liability and logistics underwriter.
Skuld remains above water despite 2018/19 profits leakageScandinavian P&I Club Skuld saw its bottom line drop by 81 percent for the financial year ending 20 February 2019 as difficult trading conditions and a handful of large claims took their toll.
Skuld Syndicate 1897 to exit Lloyd’sScandinavian marine insurer Skuld is to place its serial loss-making Syndicate 1897 at Lloyd’s into run-off.
Skuld given green light for Lloyd’s 2019Scandinavian marine insurer Skuld has had its Lloyd’s business plan approved for next year, Re-Insurance understands.
Skuld reports improved combined ratio as premiums shrinkScandinavian marine insurer Skuld reported a 95 percent combined ratio at half year, marking a return to profit after the 111 percent it reported this time last year.
Skuld grows 2017 profits despite Kea Trader lossDespite being the P&I insurer for Kea Trader, Scandinavian marine insurer Skuld increased profits to $58mn in 2017, the Oslo-headquartered company announced today.