Company news

During the 2016 policy year, Gard gathered data to make a better cost benefit determination to support the cover for costs of pre-load steel surveys (PLSS). Gard has decided to maintain cover for the costs of pre-load steel surveys with one small change. 

A small number of Members have reported receiving an email, purportedly from Gard, which  begins

We refer to our Member circular 7/2016 published in May 2016 -  7/2016: New IG/CINS guidelines for the carriage of Calcium Hypochlorite in containers

Rolf Thore Roppestad, Chief Executive Officer of Gard, provides some thoughts on the year that is now nearly at an end as well as looking at the months ahead.

Instead of sending corporate greeting cards to our Members, clients and business associates, we donate an equivalent amount to SOS Children’s Villages, a charitable organisation helping children throughout the world.

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.