With an acquisition comes a revamp as marine insurance provider Skuld announces plans to rename SMA/Gerling Norway as Skuld Marine Agency (SMA).
The formal acquisition won’t be complete until the end of the year, but marketing has already begun for the SMA brand. The acquisition will give Skuld renewal rights on SMA/Gerling Norway’s hull and machinery book of business, which covers around 6,000 vessels paying some US$40 million in premium.
“We are delighted to be close to completing this acquisition, being an important deal for Skuld, and very much in line with our strategy of diversification,” said Ståle Hansen, Skuld president and CEO. “Our priority remains our commitment to 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.”
Any successful renewals will be insured with Skuld’s own corporate paper and operate separately from Skuld’s syndicate 1897 at Lloyd’s. Skuld 1897 will continue its strategy as before and will not be affected by the acquisition.