Standard & Poor’s affirms Gard A+ rating
A very strong financial risk profile combined with its market share means Gard will remain the dominant player in the P&I segment and a significant participant in the marine market more generally, according to S&P.
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Although the rating’s negative outlook remains unchanged, Standard & Poor’s expects Gard to be among the top quartile of P&I clubs in terms of capitalization over the next two years.
The ratings agency believes that in spite of the recent heightened levels of pool claims having impacted the company’s results, the underwriting results will improve over the coming two years with our strong risk management capabilities having reduced the volatility in the underwriting results compared to other P&I players.
Our focus on staying close to our Members means we build strong relationships with both members and brokers in the marine market who appreciate our reputation for quality service.