Gard results

Gard has announced its consolidated results for the year ending 20 February 2013. Reporting at a group level the key financial results are gross written premiums of US$855m; a surplus after tax of $99m; a combined ratio net of 101%; and free reserves on an estimated total call basis of $926m. Claes Isacson, CEO of Gard, said “Our insurance operations performed well, despite some large losses in the first quarter of the year and highly competitive markets. This is a good result in difficult markets.”