Skuld

S&P Rating: A (Stable)

Combined Net Ratio	108%	Investment Return	9.8%	Entered Tonnage	98m GT
Underwriting Result	-USD 30m	Overall Result	USD 25m	Free Reserves	USD 459m

Premiums by Vessel Type

Premiums by Region

Financials (USD)	2020 (m)		2021 (m)
Gross Premium	391		391
Reinsurance Premium	(47)		(45)
Net Premium		343		346
Claims	(289)		(301)
Operating Expenses	(90)		(75)
Total Expenditure		(379)		(376)
Underwriting Result		(35)		(30)
Investments	55		62
Tax	5.6		(8)
Overall Result		25		24

CNR		110%		108%

US$	2015	2016	2017	2018	2019	2020	2021
• Free Reserves ('000)	335	347	394	442	453	466	459
• Entered Tonnage (m)	74	78	85	90	89	93	98

Gross Tonnage