Gard results

Gard reported its results for the year ending 20 February 2020 with a profit after tax of US$93 million on an estimated total call (ETC) basis; a combined ratio net of 102 per cent on an ETC basis; gross written premium of US$874 million on an ETC basis; a non-technical result was a profit of US$118 million; and equity reserves of US$1,179 million. Rolf Thore Roppestad, CEO of Gard, said: “These are, of course, the financial statements for the year ending 20 February 2020 – a date at which what became the global Covid-19 pandemic was still in its early stages. Since then the world has been turned upside down by the speed of its spread, the actions taken by governments around the world to reduce the impact and the consequences these have had on people, societies and economies everywhere.”