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Monday, 15 February 2010

Hideo Teramachi, the current managing director, will become the Japan representative of Assuranceforeningen Gard.

Claes Isacson, CEO of Gard, said: "We are delighted to welcome Mr Sugimoto to Gard and look forward to using the breadth and depth of his experience to take our relationships in the Japanese market to the next stage. We would like to thank Mr Teramachi for his years of service, during which time he has played a significant part in the development of our Tokyo office as part of Gard's global presence. We are pleased that he will maintain an ongoing relationship with the group going forward."

Mr. Sugimoto said "I am honoured to be joining Gard and will spare no effort to become part of, and to build upon, Gard's traditions and culture and develop them in our Japanese operations."

Tadashi Sugimoto previously worked for Japan P&I Club for ten years having served as a manager in their Claims department. Prior to that he spent four years with a Japanese ship management company after having sailed for three years as a deck officer

Notes to Editors
Gard is a shipowner-controlled provider of P&I, marine and energy insurance products, with an annual premium income of USD 796 million and total assets of USD 2.02 billion. Gard employs over 390 people in 11 offices around the world.

The P&I division has an entered tonnage in excess of 170 million gt, and gross written premium in the 2008 policy year of USD 460 million.

The marine division has over 6400 entered vessels and a gross written premium income of USD 230 million in 2008.

The energy division's gross written premium for 2008 totalled USD 106 million.

All insurance operating entities within the Gard group; Assuranceforeningen Gard, Gard P&I (Bermuda) Limited, Gard Marine & Energy Limited and Gard Skadeforsakring AB are rated ‘A' (stable outlook) by Standard & Poor's.

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