Launches innovative Members Loyalty Bonus Skuld Group, a leading marine insurance provider, today announces results for the financial half year ending 20 August 2013. Financial highlights Bottom-line result of $12 million, increasing contingency reserves to a record high of $320 million (half year 2012: $2 million and £293 million respectively) Combined ratio of 93% (half year 2012: 98%) Underwriting surplus of $13 million (half year 2012: $3 million) On course to deliver 11 consecutive years of underwriting surplus - sector leading operating performance For full details of the First Half Year Report, please visit or Financial reports page. Operational highlights Launch of Members Loyalty Bonus programme S&P affirming clean A rating with ‘stable outlook’ in July 2013  Strengthened both the cargo and hull teams at Lloyd’s syndicate Skuld 1897 – appointment of Andy Lane and David Farr New team at Lloyd’s writing physical damage and liability cover to ports and terminals Launch of SKULD\YACHT, dedicated exclusively to the P&I needs of superyacht owners Douglas Jacobsohn, President and Group CEO, commented: “The first half of 2013 was marked by strong growth in Skuld Group's commercial operations, illustrated by our continued track record towards 11 consecutive years of underwriting profit – a sector-leading performance.  With a combined ratio of 93% at the 2013 half-year, Skuld Group is performing very well and we will continue growing our P&I, Offshore and Skuld 1897 offerings, both organically and through strategic opportunities, should they arise.” Skuld’s strong performance across the diversified group has led to the launch of a new programme to reward mutual members. The Members Loyalty Bonus, approved by Skuld’s board of directors, will see mutual members receive a ‘cash back’ when the group’s ‘commercial operations’ move into profit following their start-up phases. Initially the Members Loyalty Bonus may be given in the form of a credit not