Marine insurer Skuld eyes strong growth in Japan with latest launch

Marine insurance provider  Skuld has obtained an official licence to open a Japanese branch,  Skuld Japan, in Tokyo.

Jinsung Son (pictured) has been appointed head of  Skuld Japan. Son has been with the company since 2020, and prior to that spent 15 years at the Japan P&I Club, most recently as deputy general manager and team leader.

Skuld Japan will offer Japanese shipowners and offshore operators P&I insurance, as well as ancillary covers and H&M. The marine insurer looks to bring a diverse range of products to enhance Japanese shipping companies' global competitiveness.

Ståle Hansen,  Skuld president and CEO said: “ Skuld has a firm commitment to a strategy of diversification and growth where results from commercial business contribute to mutuality. Further growth is underpinned by a strong underwriting discipline and a focus on quality tonnage, which makes  Skuld a perfect fit for the Japanese shipping community.

“ Skuld has over many years enjoyed strong relationships with Japanese shipowners as well as the local insurance market, and having a physical presence in Japan, close to members and clients, will further strengthen our service offering. We are very pleased to welcome  Skuld Japan to our global team, and we wish Son the very best of success in the years to come.”

Son added: “ Skuld is recognised in the Japanese marine insurance market for its financial robustness, professionalism, and high-quality service. I look forward to establishing a strong  Skuld presence in Japan to further strengthen our close relationships with the Japanese shipping community and provide excellent service and support to the Japanese shipping community for many years to come.”

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