At the Annual General Meeting of Assuranceforeningen Skuld (Gjensidig) ("the Association") held in Oslo, Norway on 3 September 2015, members and clients received reports on matters of importance to the Association's business and annual elections were held.   1. 2014 Financial Year The Board of Directors' report and the financial statements for the Association for the year ending 20 February 2015 were approved by the Annual General Meeting.   2. Review of Policy Years 2012 Policy Year:  The AGM decided to close the 2012 policy year without supplementary calls. 2013 Policy Year:  The year will be kept open until 2016. 2014 Policy Year:  The year will be kept open until 2017.   3. Statutes amendments Statutes of Assuranceforeningen Skuld (Gjensidig) On the Committee's recommendation, the Meeting adopted amendments to the Statutes where the following changes were made: to clarify that non-mutual members are not entitled to any surplusreplacing the term "Managing Director (CEO) with "President & CEO" throughout deletion of references to the Control Committeeaddition of a Risk Committeean update of the tasks of the Audit Committee, including an annual report to the Committeethe President (or in his absence the Vice President) has a duty to attend Board meetingsoptional to elect a Vice-Chairman of the Boardthe President shall chair the AGM, to reflect the current practice Bye-laws of Skuld Mutual Protection and Indemnity Association (Bermuda) Limited A comprehensive review of the bye-laws had been made with the objective to modernise and adjust the bye-laws to better fit Skuld's corporate structure and updated regulatory framework on Bermuda. The Meeting adopted the revised bye-laws where the following changes were made: A new Preferred class is established for the purpose of the Members' Loyalty Bonus. Members may be invited into the Preferred class according to a formula based on the three following criteria: (i) premium, (ii) loss ratio