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Skuld acquisition adds marine business covering 6,000 vessels


Assuranceforeningen Skuld said Friday it has signed a letter of intent to purchase SMA/Gerling Norway.

This deal will give Skuld renewal rights on SMA/Gerling Norway’s hull and machinery business. The hull and machinery business covers 6,000 vessels paying around $40 million in premium, Oslo, Norway-based Skuld said in a statement.

SMA/Gerling Norway is led by Tron Nummedal. Mr. Nummedal and his 19 employees will continue to manage the day to day business, according to the statement.

“The most important thing that we are committed to is ensuring that brokers and policyholders experience no downgrade in service: it is simply a change of ownership, and we are confident that in Skuld they will enjoy the service and competence that our existing partners and clients rely on,” Ståle Hansen, Skuld president and CEO said in the statement.

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