We’ve been talking about it for several months (see
article) and now the acquisition of SMA/Gerling Norway has been completed by Skuld.
The deal was officially finalised on January 12 with Skuld now formally the owner of 100% of the shares of the newly rebranded Skuld Marine Agency (SMA).
SMA has actually been operating under its new name since November with 100% of clients opting to renew with the company. Skuld gained renewal rights on the hull and machinery book of the business which is estimated to be worth around $40 million.
“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, back in November. “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.”
Skuld 1897 meanwhile, will continue its strategy as before and will not be affected by the acquisition.
Related stories:
Firm to be renamed after Skuld acquisition
Skuld sets its sights on SMA/Gerling Norway
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