Skuld transfers its hull and machinery business to SMA unit

Norway’s Skuld is marketing its merged hull and machinery business as Skuld Hull.

The move by the marine insurance mutual comes as it works to combine its Lloyd’s of London syndicate business under subsidiary Skuld Marine Agency (SMA).

Earlier this year, after running up considerable losses, Skuld's Lloyd's syndicate 1897 was put into a three-year run-off programme and its book closed to new business.