SKULD

What SKULD does

SKULD (legal entity: Assuranceforeningen Skuld Gjensidig) is a mutual Protection and Indemnity (P&I) insurance association founded in 1897 and headquartered in Oslo, Norway. It provides marine insurance coverage to shipowners, charterers, energy companies, ship managers, yacht owners, and aquaculture operators across more than 150 vessels and a diversified portfolio of clients globally. As one of 12 member clubs of the International Group of P&I Clubs, SKULD participates in a collective pooling mechanism covering approximately 90% of global ocean-going tonnage, and the company operates in 10 countries with regional offices including London (at the Gherkin, 30 St Mary Axe).

The company offers a platform-plus-modules insurance architecture. Core products include Shipowners P&I, Charterers P&I, Skuld Energy (offshore oil, gas, and renewables), Renewables, Aquaculture, Yachts, and Managers coverage. Supporting add-ons and services include FD&D (Freight, Demurrage and Defence) legal cover, Lay-up Cover for stacked vessels, the Club Letter of Undertaking (LOU) service for vessel arrest prevention, in-house Claims Handling, Defence, and a Loss Prevention team with over 130 years of cumulative seafaring experience. The technology foundation consists of specialized marine insurance and P&I risk management expertise backed by a vetted global correspondent network (e.g., Spica Services in Singapore) that provides local surveyor, regulatory, and pollution response capabilities.

SKULD's revenue model is subscription-recurring: shipowners and charterers become members and pay mutual calls/premiums, with release call percentages set annually by the Board based on policy year performance. The company reported a positive result of USD 96 million for Policy Year 2023 (closed without further calls), and current release calls stand at 7.5% for PY2024, 10% for PY2025, and 15% for PY2026 (the latter maintained). SKULD holds an S&P 'A' rating with stable outlook, reaffirmed in June 2026. Under President and CEO Ståle Hansen, the company distributes through direct membership enrollment and international broker networks, supported by content marketing through circulars, the Skuld Charterer Newsletter, The Field (energy newsletter), Skuld School, and an active LinkedIn presence.

Name

SKULD

Legal name

Assuranceforeningen Skuld (Gjensidig)

Website

https://skuld.com

Company type

Private

Founded year

1897

Operating status

Operating

Headcount range

251–500 employees

Short description

SKULD is a mutual Protection and Indemnity (P&I) insurance association founded in 1897, headquartered in Oslo, providing marine insurance to shipowners, charterers, energy firms, and yacht owners across 10 countries. It is one of 12 International Group P&I Clubs covering approximately 90% of global ocean-going tonnage.

Ownership category

akta.pro rank

Product category

Marine Insurance (Protection and Indemnity)

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Marine & Aviation War-Risk Insurance (FSAJAHAG)

Keywords

• Marine insurance
• Protection and indemnity
• Shipowner coverage
• Offshore energy insurance
• Maritime claims handling

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. P&I Insurance Premiums: Skuld operates as a mutual P&I club where shipowners and charterers become members and pay mutual calls/premiums for coverage. Revenue is generated through release calls, premium income, and investment returns on reserves.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

SKULD operates as a mutual Protection and Indemnity (P&I) insurance association (Assuranceforeningen Skuld Gjensidig) providing marine liability coverage to shipowners, charterers, energy companies, offshore operators, renewables, aquaculture operators, yacht owners, and ship managers worldwide. Members pay mutual calls/premiums and receive cover for third-party liabilities, crew injuries, pollution, collision damages, war risk, FD&D legal disputes, and lay-up exposure, supported by in-house claims handlers, loss prevention specialists, and a global correspondent network spanning 10 countries.

Product overview

SKULD (Assuranceforeningen Skuld) is a world-leading marine insurer and Protection & Indemnity (P&I) club providing global maritime insurance services across 10 countries. The company operates a platform-plus-modules architecture, offering core P&I insurance products for shipowners, charterers, and ship managers, alongside specialized sector coverage for energy, renewables, aquaculture, and yachts. Supporting services include FD&D legal defence cover, lay-up cover for laid-up vessels, and the Letter of Undertaking service for vessel arrest prevention. SKULD serves its members through knowledge products including Skuld Charterer (quarterly charterer newsletter), The Field (energy sector newsletter), and Skuld School (educational courses). The company is a member of the International Group of P&I Clubs and maintains an S&P 'A' rating with stable outlook.

Differentiator

Problem solved

Functional benefit

Products and services

• Shipowners P&I Insurance
• Charterers P&I Insurance
• Skuld Energy
• Renewables Insurance
• Aquaculture Insurance
• Yacht Insurance
• Managers Insurance
• FD&D (Freight, Demurrage and Defence) Cover
• Lay-up Cover
• Letter of Undertaking (LOU) Service Club Letter of Undertaking service providing security to prevent or release vessel arrests, recognized in maritime jurisdictions globally.
• War Risk Insurance Marine war risk insurance coverage including conflict zone assessments, premium calculations, and coverage decisions during geopolitical crises.

Quantifiable outcome

• Policy Year 2023 generated positive result of USD 96 million
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• International Group of P&I ClubscoreStrategic or Co-development PartnerThe International Group of P&I Clubs is a collective of 12 of the world's largest marine insurance pools covering roughly 90% of global ocean-going tonnage. Skuld is one of the seven clubs that provide war risk and P&I coverage through this network, enabling shared reinsurance capacity and coordinated coverage decisions for members.
• Gard ASminorStrategic or Co-development PartnerAlongside Skuld, Gard AS cancelled war risk coverage for vessels in the Persian Gulf in March 2026, demonstrating coordinated action among IG clubs during the Iran conflict crisis.
• NorthStandardminorStrategic or Co-development PartnerNorthStandard, one of the 12 IG P&I clubs, coordinated with Skuld on war risk coverage cancellation for Gulf vessels in March 2026.
• London P&I ClubminorStrategic or Co-development PartnerLondon P&I Club joined Skuld and other IG clubs in cancelling war risk coverage for Gulf vessels effective March 5, 2026.
• American ClubminorStrategic or Co-development PartnerAmerican Steamship Owners Mutual Protection and Indemnity Association coordinated with Skuld on war risk coverage withdrawal for Persian Gulf vessels.
• The Swedish ClubminorStrategic or Co-development PartnerThe Swedish Club, one of the seven IG clubs to cancel war risk coverage, worked in coordination with Skuld during the 2026 Hormuz crisis.
• Steamship MutualminorStrategic or Co-development PartnerSteamship Mutual joined the coordinated cancellation of war risk coverage with Skuld and other IG clubs.
• Spica ServicescoreImplementation/ SI/ Consulting PartnerSpica Services is an International Group Correspondent headquartered in Singapore with 10 offices across South East Asia. They provide local correspondent services including surveyor organization, authority liaison, pollution response coordination, and wreck removal assistance for Skuld members operating in the region.
• CeforminorOthersSkuld is a member of Cefor (Nordic Association of Marine Insurers), a regional maritime insurance industry body.
• Maritime ClusterminorOthersMember of the Maritimes20 Cluster, a maritime industry network.
• MACNminorOthersMember of MACN (Maritime Anti-Corruption Network), working to eliminate corruption in the maritime industry.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• NorthStandard: NorthStandard is a major P&I club formed by the merger of North of England P&I and Standard Club and is a fellow IG member. It provides P&I, FD&D, and war risk cover to shipowners and charterers globally, directly competing with Skuld for the same IG-tonnage pool.
• Britannia P&I Club: Britannia is one of the 12 IG P&I clubs, providing P&I and related cover to shipowners, charterers, and offshore operators. It is a direct peer within the IG pooling structure serving the same global ocean-going tonnage base as Skuld.
• Steamship Mutual: Steamship Mutual is an IG P&I club providing P&I, FD&D, and related cover to shipowners and charterers globally. It is a direct mutual peer that joined Skuld and other IG clubs in cancelling Persian Gulf war risk coverage in March 2026.
• The Swedish Club: The Swedish Club is a Nordic IG P&I club offering P&I, war risk, and loss prevention to shipowners and charterers. It is a close regional and product peer, coordinating IG-level decisions with Skuld on coverage during geopolitical events.
• Japan P&I Club: Japan P&I Club is a major IG P&I club with a large share of Japanese-flagged and Asia-based tonnage. It is a direct peer that overlaps with Skuld in Asian shipowner segments and participates in the same IG pooling mechanism.
• West of England Insurance Services: West of England is an IG P&I club providing P&I, FD&D, and ancillary cover to shipowners and charterers. It is a direct mutual peer serving overlapping customer segments within the IG-pooled global tonnage market.
• Gard AS: Gard is the world's largest P&I club and a fellow member of the International Group of P&I Clubs. It offers the same Shipowners P&I, charterers, and offshore energy cover to global shipowners, making it Skuld's closest head-to-head competitor.
• London P&I Club: London P&I Club is one of the 12 IG P&I clubs and provides P&I and ancillary marine cover to shipowners and charterers worldwide. It is a direct mutual peer that coordinated with Skuld on war risk cancellations in the 2026 Persian Gulf crisis.
• American Club (American Steamship Owners P&I): The American Club is a US-domiciled IG P&I club providing P&I and ancillary cover to shipowners operating in US trades and beyond. It is a direct competitor within the IG pooling mechanism and a natural peer to Skuld for international fleet owners.

Others

• Marsh (marine insurance broker): Marsh is a global insurance broker placing marine and P&I cover with clubs including Skuld. It is an ecosystem participant and distribution channel rather than a direct underwriter, but materially shapes how Skuld's P&I products reach shipowner and charterer clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/skuld
• Xx.com/skuld_insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SKULD