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Skuld expands with purchase of Norwegian insurance peer

The Norwegian marine insurer acquires similarly Norwegian insurance peer SMA/Gerling Norway in a transaction that will add 6,000 vessels to Skuld's member portfolio. The take is part of a diversification strategy, says CEO.

Skuld CEO Ståle Hansen

Skuld will take over its Norwegian marine insurer peer SMA/Gerling Norway in a move that expands the company's membership portfolio with 6,000 new vessels, informs Skuld in a press release Friday.

Skuld will acquire the renewal rights on SMA/Gerling Norway’s hull and machinery book of business, which means that successful renewals would be insured with Skuld’s own corporate paper.

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