The purchase was signed off this week, giving Oslo-based Skuld renewal rights to a fleet of 6,000 vessels, paying premiums of about $40m.
The business has been renamed Skuld Marine Agency, so keeping the SMA acronym previously used.
Completion means that 1 January renewals will be insured with security from Oslo-based Skuld.
Skuld, an ‘A’ rated Norwegian protection-and-indemnity (P&I) club that has been successfully transformed into a wider but still marine-focused insurance group, already writes hull and other business through its Lloyd’s syndicate 1897 but this London-based operation will not be affected by the SMA acquisition.
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