Marine insurer Skuld has reported a $13.4m profit for the first nine months of the financial year.

The figure is up $33.9m on the same period last year.

Skuld’s technical underwriting registered a $21.6m profit, and a combined ratio of 94%.

The results include its mutual protection and indemnity cover and its commercial marine insurance and energy lines.

Premium increased by $41.5m over the three quarters to $350.5m.