Skuld hit by more claims from carriers

Norwegian Skuld achieved a consolidated result of USD 5 million in the first nine months of the year, a significant decline compared to the same period last year and a result affected by more claims from carriers.

BY KATRINE GRØNVALD RAUN

Published: 19.12.14 at 12:18

Norwegian marine insurer Skuld was impacted by a series of major claims from carriers in the last three months, according to the company's 3rd quarter interim report. Even though the company finished with a consolidated bottom line of USD 5 million, the result still represents a significant decline compared to the same period last year, where the company achieved a result of USD 31 million.

A development caused by, among other factors, an increased number of claims in the 3rd quarter of more than USD 1 million, which also leads to a negative result on the insurance business, a deficit of USD 6.5 million, says Skuld in a statement. The interim report shows that claims incurred on Skuld's own account grew to a deficit of USD 197.5 million in the first nine months of the year, while this figure came to negative USD 164 million in the same period 2013.

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