A run of three large claims pushed Skuld’s underwriting into the red in the first half of this year.
The casualties, each potentially large enough to be pooled with the other International Group protection-and-indemnity (P&I) clubs, threaten Skuld’s unsurpassed record of delivering consecutive underwriting surpluses over the past 14 years.
Despite an underwriting loss of $22m, there was a $30m investment return, so Skuld still had a bottom-line profit of $8m for the six months to 20 August.
