Oslo-based mutual insurer Skuld will increase the cost of its protection and indemnity insurance cover by 10% at next February's policy renewal.
The increase is an attempt to correct recent underwriting losses. Skuld has also recently had a negative change in its outlook from ratings agency S&P Global Ratings, while its capital reserves have also fallen.
The 10% increase will be applied to all P&I mutual and freight demurrage and defence policies.
