Skuld CEO Ståle Hansen: mutual system still insures 90% of world fleet

Close to 90% of the world fleet is insured through the mutual P&I system, according to Skuld CEO Ståle Hansen, who puts that figure forward as proof that cooperation in shipping is strengthening rather than fraying — even as geopolitics, cybercrime and AI-driven risk dominate the industry's agenda.

Hansen's timing is deliberate. Speaking ahead of next year's Nor-Shipping conference in Oslo, he issued a direct appeal for cross-border, cross-sector collaboration, arguing that no single stakeholder can resolve the issues now defining shipping.

Is Skuld actually getting stronger?

By its own numbers, yes. Hansen says the Oslo-based insurer has "never been stronger," citing growth in revenues, P&I tonnage, staff headcount and commercial gross premiums. Those commercial premiums now account for roughly 50% of Skuld's business — a notable shift for a club rooted in the traditional mutual P&I model, where members pool resources to cover liabilities no single owner could absorb alone.

The company employs more than 360 people across 11 international offices. No absolute revenue or premium figures were disclosed, so the strength claim rests on proportions and headcount rather than audited results — a gap worth flagging for anyone benchmarking Skuld against listed marine insurers.

The mutual system itself is also expanding its reach. Hansen confirms the International Group of P&I Clubs is currently processing a membership application from the China Shipowners Mutual Assurance Association (CPI), which would become the group's first Chinese member.

"Cooperation is, if anything, getting stronger," he said.

What does the collaboration case rest on?

Hansen's argument runs against the prevailing narrative of fragmentation. Through conversations with members, industry organisations and other stakeholders, he says he senses "a building momentum" — a "real desire to remove obstacles and enable stronger trade," rather than a breakdown in cross-border relations.

On decarbonisation, he reports "private owners with a strong wish to contribute to society" and a "strengthening value proposition" for adopting green technology — a claim, it should be noted, made without accompanying investment figures or fleet-order data.

He concedes that AI and cybercrime pose genuine challenges, but counters that digitalisation also delivers "enhanced awareness, greater efficiency and reduced risks of collisions."

"Collaboration," Hansen states, "is the foundation shipping has been built on… and it remains its greatest strength. I think, especially now, it's well worth remembering that fact."

Skuld is backing the rhetoric with an extensive partnership roster, including the Maersk Mc-Kinney Møller Centre for Zero Carbon Shipping, BIMCO, Cefor, the Norwegian R&D Centre for Maritime Energy Transition (FME MarTrans), the Maritime Battery Forum, the Green Shipping Programme and the Sustainable Markets Initiative (SMI). Hansen recently shared a stage with SMI at Oslo Ocean Days, discussing how to be "a catalyst for change."

How does Skuld position itself commercially?

The insurer's role extends beyond risk cover. Hansen says Skuld holds "a huge wealth of data" — not only on risk, asset protection and maritime incidents — and acts as a consultant to members adopting new fuel types, green technology and broader decarbonisation initiatives.

"Through relationships with bodies such as SMI, and events such as Nor-Shipping, we can share the data and insights we have with the wider shipping community, and beyond," he said. "That way we can be a true catalyst for change, enabling progress which ripples out far beyond our membership base."

For shipowners, the pitch is that Skuld functions as both insurer and knowledge repository; for the wider market, it signals that P&I clubs are competing increasingly on advisory services, not just pooled liability cover.

Next year's Nor-Shipping carries extra weight for the company: 2027 marks Skuld's 130th anniversary. "We've been here for a very long time," Hansen reflects. "We've seen a lot of challenges, and a lot of change. Yet through it all Skuld, and this industry as a whole, has sailed onwards by adapting, delivering value and working closely with partners."

"I'm optimistic," he concludes. "I truly believe we're getting stronger, together. We just have to keep building on that collective strength." Whether the mutual system's near-90% fleet coverage holds as Chinese membership and green-fuel transitions reshape the risk pool is a question the next few policy cycles will answer.