Skuld is aiming to boost premium income by 5% in 2025 after reporting rising costs because of the “increasing complexity” of global insurance.
The Norwegian protection and indemnity provider said a tighter financial position was also linked to inflation affecting claims costs and an increase in larger claims of more than $1m.
In September, the club announced a first-half underwriting loss of $30m, equivalent to a combined ratio of 111%.
