Gard posts 99% combined ratio in H1 as hull claims increase

04 September 2023

Gard has posted a combined ratio of 99% in the half year to 30 June 2023 and a non-technical profit of $54mn, as the Norwegian marine insurer experienced an increase in hull claims.

The insurer reported a technical profit of $4mn and equity of $1.3bn on an actual call basis.

Gard said its investments had begun to recover following an “exceptional period” last year, when markets were impacted by the war in Ukraine.

The...

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