Supply ships off the coast of Norway

First half results: Low claims and strong financial return

InsightsAugust 30, 2016

After the first six months of 2016, Norwegian Hull Club has a result of USD 25.3 MUSD.

The technical result of insurance operations is USD 7.1 million and the net result of financial items is USD 18.2 million.

Gross premium income is below expectations due to reduced insured values on a part of the insured units as well as severe price competition. Profitability on insurance operations is in line with expectations, which represents a reversal from the loss on insurance operations in the first quarter. In the second quarter, the insurance result is caused by low claims.

Read the 2nd Quarterly Report for Norwegian Hull Club 2nd Quarter Report 2016.