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Skuld delivered 2015 profit in weak market

In spite of miserable conditions in several shipping segments, Skuld exited 2015 with a profit of USD 13 million and the best combined ratio in five years. CEO calls the result encouraging.

Photo: Skuld

In contrast to many of the company's customers in the shipping industry, the Norwegian marine insurance company Skuld exited 2015 with a positive result on the bottom line. Precisely USD 13 million was the profit which is a modest decline from USD 13.5 million in 2014, according to a press release.

Skuld earned premiums worth a total of USD 401 million which is also a modest decline from USD 411.2 million in 2014. Combined ratio, which is the payments' share of the premiums, landed at 95 percent, which is the lowest in five years and an improvement from 99.8 percent in 2014.

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