Seeing a robust growth in India, Skuld’s set to go offshore
Having crossed the Indian shores three years ago, Skuld, the new generation P & I Club, has repositioned its marketing strategy to focus on the Indian offshore sector where it is certain to have a significant presence. Already having achieved good successes among many ship owners and charterers, it has now come up with some unique policies for providing protection and indemnity to almost every segment of the offshore sector.
Skuld is looking optimistically at the shipping industry in India having seen remarkable progress during the past three years. It has increased its portfolio and is very intent on increasing its presence not only in the shipping and chartering industry but also the offshore industry.
Skuld feels it is in a strong position to take this step having shown good results in the last few years. Jan Katkjær, Senior Vice President, Deputy Head of Office Underwriting, Skuld, Copenhagen stated, “We have grown premium wise and also effected very good growth in tonnage. Being rated ‘A’ by Standard & Poor, this reflects the Club’s strong competitive position, strong financial flexibility and strong technical operating performance.”
According to a company spokesman Skuld operates as a syndicate and their way of working is totally different from the English. They have what is considered a better approach being service oriented and their contracts are personalised. He stated, “When you know who you are dealing with you get better service. The Club’s increasing reputation for stability and avoidance of unbudgeted supplementary calls will prove attractive to potential new members.”
“India and the United Kingdom have been traditionally linked together for the past 300 years,” points out Mr Katkjær. “Now we come with a different approach and a different flavour. We are different and forward thinking having made specific insurance policies for the offshore sector. We have brought in a full insurance package for the offshore industry which is unique.”
“The closer contact with customers and the benefits which the syndicate structure provides has played a key role in the Club’s improved performance in recent years,” says Thomas K. Larsen, Senior Claims Executive, Skuld, Copenhagen. “We have been in touch with most of the leading ship owners, charterers and offshore operators in the country and have received encouraging results.”
Rajeev Kashikar, a leading banker, who has been closely associated with Skuld’s entry into India stated, “Skuld have been progressing rapidly in India. They have realised that with the significant growth in the country and in South Asia and having to service P & I members in this region they will have to open their own office here. They have finally decided to do open an office in Mumbai to handle their operations in India, South Asia and Middle East.”