Q2 2018 Report - Results enhance The Club’s pursuit of strategy

Norwegian Hull Club attained a positive result of USD 21.1 million and a combined ratio of 71 per cent for the first half of 2018, the company’s Q2 2018 interim report shows.

A continued absence of medium-to-large claims in Q2 contributed to a greater-than-expected profitability on insurance operations at Norwegian Hull Club - the technical result of which was USD 20.0 million. The result from investment income and other financial operations, meanwhile, was USD 1.1 million.  

Equity for The Club stood at USD 311.8 million at the end of June. 

Hans Chr. Seim, Chief Executive Officer at Norwegian Hull Club, said of the Q2 report: “While we appreciate the result and the absence of medium and large claims in this period, we note that the core product marine Hull is still not profitable. The good result is thus also a result of the diversification pursued over many years. 

“Norwegian Hull Club is committed long term to marine and energy insurance. We focus on emerging risk and developing concepts to assist our clients to manage their risks. The good result strengthens our ability to pursue this strategy.” 

You can read the full report here.


31. Aug. 2018