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 is pleased to announce that Tadashi Sugimoto will be joining the group's Tokyo office on 20 February, 2010, as managing director of Gard (Japan).
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.
Gard is pleased to announce that it will be making a number of organisational changes in the autumn of this year.
Gard is pleased to announce that it is increasing the resources in its Greek office, with the recruitment of three new senior staff including two claims handlers and a defence lawyer.
Standard & Poor's Ratings Services (S&P) today lowered its long-term counterparty credit and insurer financial strength ratings on Assuranceforeningen Gard - gjensidig - and its related core entities to 'A' stable.
Following a meeting of the Board of Directors in Vienna on Monday 25th May, Gard has released highlights from its consolidated results for the year ending 20th February 2009.
Gard announced today that it will create a separate specialist team for investment management, as well as enhancing the existing risk management department. The changes will take effect from the 9th of March and are in response to the resignation of Chief Financial Officer, Just Arne Storvik.
Standard & Poor’s published today a detailed report on the rationale for the A+ (Negative outlook) financial strength rating for Gard’s principal operating entities. Claes Isacson, CEO, commented: "The speed and severity of the economic downturn in the past year has been unprecedented and in this context, Standard & Poor’s has reviewed the consequences for the wider insurance industry and the P&I clubs specifically. We believe that our A+ rating is a testimony to the fact that we have put a strong financial position at the heart of our business model.
Following a meeting of the Board of Directors in Dublin on Monday 26th of May, Gard has released highlights from its consolidated results for the year ending 20th February 2008.