Gard results

The first half of the 2018 financial year saw a strong performance for Gard P&I Club. For the period ending 20 August it reported a result after tax of US$27 million on an estimated total call (ETC) basis; combined ratio net (CRN) of 78 per cent; an investment return of minus $41 million; and equity of $1,276 million. Rolf Thore Roppestad, CEO of Gard, said: “With investment results volatile, ensuring that we have a balanced book of underwriting becomes increasingly important. Being excellent at the fundamentals, assessing and handling maritime risk, is our first priority.”