Skuld

Circular to all Skuld Members, Skuld Renewal Update 2, policy year 2025/26. In this circular to all Members, we outline the International Group of P&I Clubs Reinsurance Programme for the Policy Year 2025/26. #Reinsurance #Marineinsurance #Restassured

Season's greetings from all of us at Skuld!🕯️✨    As we reflect on the past year, we extend our warmest thanks to all our members, clients, brokers, and friends. Your support is the cornerstone of our development, growth, and success, and we are deeply grateful. May you enjoy a peaceful holiday season, and the new year bring you good health and happiness.      Thank you for being part of our journey, and rest assured, we look forward to continuing our strong relationships in the new year ahead!     Warm regards  Your Skuld Team. #restassured.

Last week, Nina M. Hanevold-Sandvik and Edward Wollaston represented our team at the 2024 Salvage and Wreck Conference, where they shared insights on the successful recovery of a jack-up rig in the South China Sea. Ed presented with Mark Lawrence about the importance of high-resolution data in the early stages of a wreck removal project. This data serves as a crucial foundation for tendering, operations, and project closeout. Nina, alongside Thijs van der Jagt from Smit Salvage, highlighted the collaboration among stakeholders in the rig's removal and recycling process, which was completed over two seasons. The conference was a great opportunity to hear from numerous expert speakers who addressed the pressing challenges associated with managing, preventing, and responding to maritime emergencies. #salvageconf  #marineinsurance #restassured.

From 1 January 2025, the FuelEU Maritime Regulation will enter into force with the aim to reduce the greenhouse gas (GHG) intensity of the fuel used on board. The regulation applies to all cargo and passenger ships above 5,000 GT calling at or departing from ports within the European Economic Area (EEA) for commercial purposes. The regulation intends to promote the use of renewable and low-carbon fuels, supporting the EU’s target of a 55% GHG reduction by 2030 compared to the 1990 levels as per the Paris Agreement and the EU’s goal of climate neutrality by 2050. Skuld has compiled an easy-to-read overview of FuelEU Maritime available here: https://lnkd.in/dBdvXhcu. For more detailed information, please see our summary article here: https://lnkd.in/dBWM95hT. Our members and clients are always welcome to reach out to their Skuld contact for any queries related to the FuelEU Maritime regulation. 

Today, we are pleased to announce our nine-month report (ending 20 November 2024), with a positive result of USD 40 million, driven by a strong contribution from the investment portfolio. The growth in premiums and calls continues both for commercial and mutual lines of business. We continue our dedicated growth strategy by expanding our product range to adapt to the evolving needs of the shipping and energy markets. Highlights: · A positive result of USD 40 million · Strong investment return · Continued premium growth After experiencing a benign large-claims environment in recent years, the return to a more normalised claims environment, with a relative increase in higher-value claims, has highlighted the need for premium rate adjustments. Skuld is in a robust financial position, continues to deliver outstanding service to our members, clients, and brokers and upholds our leadership position in global marine insurance. Please see more details in our nine-month report 2024/25 here: https://lnkd.in/dAfqG5nw #financialstrength #marineinsurance #Restassured.

We are pleased to announce the 2025 launch of the P&IQ Scholarship Program.   The P&IQ course offers valuable academic and practical knowledge for individuals currently working in or aspiring to enter the industry. The Group is looking to award five scholarships to stand-out candidates (with or without a maritime background) in 2025. For more information about the P&IQ and the Scholarship application form, please click the link below.   Applications must be received by 31 January 2025. #MarineInsurance #PandIQ #Scholarship

Our Casualty and Major Claims expert, Nina M. Hanevold-Sandvik, had the privilege of participating in the Sustainability in Marine Casualty Response Workshop in London this week, alongside Stephan Hennig (UK SOSREP) and Andreas Brachel (Gard). The session, chaired by Greg Challenger from Polaris, focused on the strategic perspective of sustainability in marine casualties.   We thank Triox Environmental Emergencies, Marittima Ltd., Polaris Applied Sciences Inc, and ITOPF for organising the workshop and collaborating to shape a sustainable future for marine casualty response. 🌎 🚢 #marinecasualty #sustainability #restassured.

Last Thursday, Skuld held its traditional Christmas market at our Oslo office. It was a wonderful way to kick off the holiday spirit and embrace the season.  🎄 Our talented employees showcased their creativity and craftsmanship by offering a fantastic mix of handmade items. From knitted scarves, hats, socks, and mittens to bespoke Christmas cards, each piece was made with love and care. 🎅🏻 We also enjoyed gingerbread cookies and hot mulled wine, which added to the festive atmosphere. 🍪 #Christmas #Oslo #restassured.

In the latest Skuld Charterer edition, Sylvie Allen from Skuld's Oslo office discusses Letters of Indemnity (LOIs) from the Charterers’ perspective.   The article sets out the different considerations that arise when deciding which legal entity should issue and be bound by the LOI.   It further discusses whether the wider issuing Group Company can be held liable, and the importance of ‘undisclosed principals’ under English Law.   The topic should interest all of Skuld’s chartering clients, who separate the chartering activity through various affiliates and often independently from any potential trading arms of the Group. Read the full article here: https://lnkd.in/drKDG_YX 🚢 #marineinsurance #charterer #restassured

As we observe Human Rights Day, we remind ourselves of the importance of ensuring transparency and ethical practices to uphold human rights across our operations. At Skuld, we fully adhere to the Norwegian Transparency Act, which came into force in July 2022. This act mandates transparency in how we address and assess our actual and potential adverse impacts on human rights and decent working conditions.  We have a robust governance framework to protect and promote human rights within our organisation and supply chain. This includes a zero-tolerance policy on slavery, human trafficking, and other human rights abuses. Skuld’s cross-functional Sustainability Working Group coordinates the work with human rights throughout our organisation. It maps and assesses how well Skuld and our suppliers adhere to fundamental human rights and whether employees enjoy decent working conditions.  As we continue our journey, we remain committed to acting ethically and with integrity in all our business dealings and relationships. Together, we can make a difference and contribute to a world where human rights are respected and upheld. #HumanRightsDay #TransparencyAct #Restassured