Standard & Poor's has affirmed Gard's A+ long term insurer financial strength and counterparty credit ratings, with a stable outlook.
Our office in Hong Kong is moving on Saturday, 29 October.
For the first six months of the 2016 financial year, ending 20 August, Gard reported a result after tax of USD 97 million with a CRN of 97 per cent. There will be no general increase in the Advance Call for owners’ mutual P&I or for mutual FD&D for the 2017 policy year.
Our Oslo office is moving to Dronning Eufemias gate 6 (Oslo Atrium), 4th floor on Monday, 3 October 2016.
Gard, the largest P&I Club and leading marine hull
insurer, has become the first insurer to become a Green Award Incentive
Provider.
On 8th September 2016 Gard won the Insurance Insider Cuthbert Heath Award (Claims and Losses) – a prestigious London Market award for an insurer’s response to a major claim event. http://www.insuranceinsiderhonours.com/pages/Winners
The annual scholarship to help young people finance an education at university level, with a view to finding work within the shipping and marine insurance sectors.
The International Group of P&I Clubs has released an amended version of its 2015/2016 Annual Review.
Despite it being the beginning of the summer – a time to kick back and relax, the political and economic challenges we face do not seem to be taking a holiday! Looking around us, it is hard not to feel that that globalisation and co-operation, things that are fundamental to the development of our industry, are increasingly not being reflected in the world in which we live and work.
At a group level, Gard reported a surplus after tax of USD 85 million on an Estimated Total Call (ETC) basis and Combined ratio net of 83 per cent. The deferred call for the 2015 policy year will be 15 per cent of the advance call – 10 percentage points lower than the original estimate of 25 per cent and the insurance cost for mutual Members will be reduced by USD 37 million.
Gard announced today that Thomas Nordberg has taken up the role as Managing Director of the London office, replacing André Kroneberg who has moved to be Chief Underwriting Officer – Asia.
The root cause of many groundings and collisions is lost anchors which are also among the top five reasons for claims costs overall.
The 2016 P&I renewal took place against a background of challenging macro-economic conditions for our Members, as well as a highly competitive insurance market. Nevertheless, this renewal was a positive one for Gard – both in terms of achieving sustainable premium levels and tonnage growth.
The Hazardous and Noxious Substances Convention (HNS Convention) is one of several IMO liability conventions modelled on the successful Civil Liability Convention. In common with other members of the International Group of P&I Clubs, Gard supports the adoption and the fair and consistent operation of such IMO conventions.
Our latest publication, provides comprehensive information about containers as a means of cargo consolidation and effective transportation, intermodal transport and the handling of containers in its widest form, both in terms of operations, geographical differences and the underlying technology.
Gard today announced the appointment of Christen Guddal as Chief Claims Officer, effective from 20 February 2016. He will succeed Svein Andersen who will retire from Gard in October of this year, having headed the claims function for seven years.
Gard today announced the appointment of Ole Rikard Rønning as Chief Digital Officer, representing ICT on the Top Management Group (TMG).