Corporate News

HDI Global SE sells units in Norway to specialist insurer Skuld

HDI Global SE sells its Norwegian subsidiary companies, Scandinavian Marine Agency and Gerling Norge, to Norwegian insurer Skuld. With this sale the industrial lines insurer will end the niche business with blue ocean hull insurance policies there. In future, HDI Global SE will serve its industrial and corporate customers in Norway from the Danish branch office in Copenhagen.

Apart from the sale of the subsidiary companies, the transaction also comprises the sale of renewal rights of the HDI branch office in Norway. This relates to the ocean hull portfolio. Overall, the gross premium volume of activities to be sold amounted in the business year 2015 to some 40 million U.S. dollar.

The portfolio sold in Norway is a niche business for HDI. This operation is being discontinued in the Norwegian market. For the specialist insurer Skuld the portfolio is a good complement to the company’s marine insurance activities. Skuld also takes over the 18-head team of the Norwegian HDI units.


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