Gard results

For the first six months of the 2013 financial year, ending 20 August, Gard reported the following results at a group level: result after tax of US$18m; a combined ratio net of 94% growth in gross written premium of 9% investment return of 0.2% and free reserves of US$909m. Svein Buvik, acting CEO of Gard, said "We are pleased to say that our insurance performance has been strong, with P&I results benefiting from an absence of severe claims in this financial year. Overall we have seen good increases in premium in what is a competitive marketplace."