Skuld posts $29mn profits in H1

Norwegian protection and indemnity (P&I) mutual Skuld has
reported a net profit of $29mn for the first six months of
2016.
The figure represents a $20mn increase on the same period last
year.
The P&I club also posted record contingency reserves of
$379mn, primarily driven by net investment income of $34mn.
In the same period of 2015 it reported an investment loss of
$0.8mn.
Skuld attributed the vastly improved investment result to strong
equity markets and declining interest rates.
Howev