Skuld’s Expansion and Strategic Growth in Marine Insurance
Skuld, a leading global marine insurer, has successfully renewed its protection and indemnity (P&I) policies for the 2025/26 policy year. The renewal has been marked by the inclusion of numerous new members, resulting in a 6% increase in entered mutual P&I gross tonnage (GT) as of 20 February. Importantly, this growth does not account for additional tonnage that is expected to join Skuld later in the policy year.
As of 20 February 2025, Skuld’s mutual P&I tonnage stands at a substantial 122 million GT, a growth that aligns seamlessly with the strategic targets established by its board. Skuld’s commitment to diversification extends beyond P&I, as it continues to bolster its presence in other business lines including hull and machinery, charterers, energy, and freight, demurrage, and defence (FDD).
This diversification is a cornerstone of Skuld’s long-term growth strategy, ensuring the company remains well-capitalised and poised for future expansion. Ståle Hansen, Skuld’s president and CEO, remarked: “The successful renewal of our P&I policies, in alignment with all our growth objectives, underscores our steadfast dedication to providing comprehensive, reliable, and effective insurance solutions to our members and clients.”
He further stated, “Our unwavering financial strength and exceptional service levels are maintained thanks to the experienced Skuld teams across our global office network. We deeply appreciate our members’ loyalty and are eager to work closely with our members, clients, and brokers to identify and mitigate potential risks, ensuring prompt and fair claims settlements in the future.”
Hansen concluded by expressing gratitude towards all Skuld colleagues who played a role in this year’s successful renewal. He reaffirmed Skuld’s commitment to exceptional service, adding, “In these turbulent times, our members, clients, and brokers can trust in our steadfast support.”
