Claes Isacson, CEO of Gard, commented “Gard has invested considerable resources over the last decade to create a genuinely global footprint – designed to offer a first class service wherever we are needed.
Safeguard Guarantee Company Ltd, a wholly owned subsidiary of Gard P. & I. (Bermuda) Ltd, announced today that it is introducing an insurance and guarantee facility which will cover the war risk liabilities that fall outside the scope of standard P&I club cover.
Gard today announced that, at the meeting of the Board of Directors held on 31 May, 2010 it was decided to return USD 40 million to the mutual members of the Club by reducing the deferred call for 2009 from 25% to 10% of the advanced call.
"2009 saw positive results across all areas of the group's operations" said Stephen Pan, Chairman of the Board. "The insurance operations performed very well with a combined ratio across the group of 92% and our investment return was19%."
Gard announced today that it has recruited Michael Moon, currently a partner at the London-based solicitors, Bentleys Stokes and Lowless, as a Senior Defence lawyer to work in its Oslo office. He will join Gard on the 1st April, 2010.
Standard & Poor's Ratings Services (S&P) today confirmed its long-term counterparty credit and insurer financial strength ratings on Assuranceforeningen Gard - gjensidig - and its related core entities as 'A' stable.