Skuld today is pleased to report a successful renewal of its protection and indemnity (P&I) policies for 2024/25. This success illustrates the significant growth achieved in line with Skuld's strategy. Skuld's mutual P&I gross tonnage (GT) has risen by 11% and achieved an unprecedented high of GT 116 million, fulfilling all mutual P&I renewal targets set by the Skuld board.
Skuld also experienced substantial growth in other lines of business, including hull & machinery, charterers, energy and FDD, further emphasising the successful execution of the growth strategy through diversification. Consequently, Skuld continues to benefit from a robust financial foundation, leaving the club well-capitalised and equipped for future growth.
Ståle Hansen, Skuld president and CEO, said: "The successful renewal of our P&I policies, which aligns with all our growth targets, showcases our unwavering commitment to delivering comprehensive, reliable, and effective insurance solutions to our clients. We maintain outstanding service levels, thanks to our experienced Skuld teams through our global office network. We are deeply grateful for the loyalty our members have shown us and look forward to working closely with our members, brokers, and clients to identify and mitigate potential risks, ensuring swift and fair claims settlements in the future."
"I want to sincerely thank all Skuld colleagues who contributed to this year's successful renewal. As we continue to grow, we remain committed to providing unparalleled service to our members, clients, and brokers. With Skuld, they can be assured of our steadfast support."