Skuld chief executive Stale Hansen said growth is “vital” to its business strategy to keep up with consolidation in the marine insurance market.
In an interview with TradeWinds, Hansen said consolidation moves in the protection and indemnity market, which saw the formation of the industry’s second-largest player NorthStandard this year, have made scale a critical factor in the business.
Hansen stressed that Skuld is currently the third largest of the International Group of P&I Clubs members, based on its total revenue, including its mutual P&I business and marine and energy business streams.
