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GOTHENBURG, Sweden--Merger talks between Scandinavian mutual marine insurers Assuranceforeningen Skuld and The Swedish Club, which were announced last month, have been terminated.
The Gothenburg-based Swedish Club said in a statement that "the decision not to proceed was taken after much consideration."
Both insurers specialize in underwriting protection and indemnity, hull and machinery and charterers liability business and are longtime members of the International Group of P&I Clubs.