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Skuld books first technical deficit in 16 years

Marine insurance company Skuld saw several claims in its staggered fiscal year 2019/2020, which ended with the first technical deficit in 16 years. The company's bottom line shows a large profit, however, and the CEO highlights a better renewal of tonnage than in recent years.

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A series of mid-sized and large claims led to Skuld's first technical deficit in 16 years, writes the marine insurance company in an update about developments in its staggered fiscal year 2019/2020.

"Our technical result shows the clear need to bring premium levels into line with risk. Our long-term investment strategy remains conservative, which is proven to handle extreme volatility although our results will be affected in the short term," says CEO Ståle Hansen.

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