Norwegian marine insurer Skuld books a positive result in line with last year, helped along by returns on investment. CEO Ståle Hansen notes that the company has conquered market shares across its business.
Skuld exits its fiscal year /2021 with a positive bottom line, helped well along by returns on the insurance company’s investments.
The Norwegian marine insurer reports a profit of USD 25 million for the fiscal year, which ended on Feb. 20. The result is in line with the preceding year, writes Skuld in a statement.
The Covid-19 pandemic had a negative effect on Skuld’s results, prompted in particular by claims activity in connection with personal cases, the company writes.
CEO Ståle Hansen is satisfied with the result, which was boosted by a 9.8-percent return on the company’s investments.
Skuld’s covered tonnage rose above the 100-million mark in gross tonnage during the year, highlights Hansen in the statement:
“Also, we increased our market share across all other lines of business.”
At the same time, he points out that mutual insurance premiums remain too high and therefore do not contribute positively to the technical result.
“Skuld has a very strong platform for further growth, and we look forward to approaching our 125th anniversary in 2022 as a modern and future-oriented world leading marine insurance provider,” he says in the statement.
