Skuld to acquire SMA/Gerling Norway

Norwegian protection and indemnity club Skuld has signed a
letter of intent to acquire SMA/Gerling Norway, it announced today
(20 May).
The purchase would give Skuld renewal rights on SMA/Gerling
Norway's $40mn hull and machinery book of business, which
covers around 6,000 vessels.
The club said any renewals would be insured with its own
corporate paper, and would operate separately from its Lloyd's
Syndicate 1897.
Skuld said it intended to retain the 19-strong team at
SMA/Gerling Norway, run by