Financial matters
Key figures 2011
| For the half year to 20 August 2011 | ||
| Gross written premium | USD 692 m | |
| General contingency reserve | USD 798 m | |
| Total assets | USD 2,662 m | |
| Combined ratio net | 102 % | |
| Result after tax | USD 6 m | |
| Technical surplus | USD -6 m | |
| Non-technical result | USD 12 m | |
Management reports
Corporate governance
We believe that effective corporate governance is essential and have established an open and transparent framework to deliver insurance products and services to our Members and clients.
Ratings
Our interactive rating is A / positive outlook | . |
Standard & Poor's Financial Services LLC, provides independent financial information, analytical services, and credit rating to the world's financial markets. For more information on Standard and Poor's, visit http://www.standardandpoors.com/ |
Free reserves
Record of estimated and actual deferred calls
Stability and predictability in the level of calls is a highly desirable outcome for Members, and our track record demonstrates our ability to manage this process.
| Per cent | 2010 | 2009 | 2008 | 2007 | 2006 |
| Estimated at inception | 25 | 25 | 25 | 25 | 25 |
| Actual | 15 | 10 | 25 | 25 | 20 |
Key facts
- Gard was founded on 9 October 1907 as a P&I club
- Gard's marine and energy businesses have roots back to the mid of the 19th century
- Gard is the world's second largest marine insurer
- P&I tonnage on 20 February 2011 190 m gt
- 15% market share in P&I
- On 20 February 2011 the marine book insured 7,040 vessels
- Gard accounted for 30% of the Nordic marine hull premium
- Gard has been in the offshore energy sector continually for over 35 years
- Gard has 11 offices around the world employing more than 400 people