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.

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CBS launches board program for the shipping industry

Supported by a number of high-profile names from the global shipping industry, CBS’s new Blue Board Leadership Programme’s first module is already half full. The faculty team includes BW Group Chairman Andreas Sohmen-Pao.

Further reading

Related articles

Latest news

See all jobs