This statement fulfils the requirements pursuant to section 414CZA of the Companies Act 2006 and explains how the Directors have had regard during the year to the following matters as set out in Section 172 of the Act:

• Long-term results

• Our workforce

• Our business relationships

• The community and our environment

• Our reputation

• Fairness between our stakeholders

The Statement describes how the Directors have fulfilled their responsibilities and duties by incorporating information from other areas of the Strategic Report in the Financial Statements to avoid unnecessary duplication. The Directors consider that the statement focuses on those risks and opportunities that were of strategic importance to Gard (UK) Limited consistent with the size and complexity of the Company.

The Directors have given due regard to a range of matters in the performance of their duty to promote the success of the Company and these include listening to and considering the views of clients, brokers, employees and the Company's other key stakeholders.

Through this process, the Directors ensure that they understand the potential impacts of their decisions on the various stakeholders, the environment and the communities in which the Company operates. Engagement with the Company’s main stakeholder groups, including our clients, brokers, suppliers and employees, at all levels of the organisation and across the business are summarised in the Gard Group Annual Report.

Gard (UK) Limited operates within the Gard Group governance architecture and follows its procedures to ensure that all relevant matters are considered by the Directors properly and in full, prior to decision-making, in order to comply with the Directors’ corporate duties. In doing so, the Directors ensure the long-term success of the company and contribute to the successful and sustainable outcomes for the Gard Group. The below summaries those matters which the stakeholders, directors and the board consider relevant for the disclosure in complying with Section 172 (1) (a) to (f) of the Act set out in more detail, given the importance to Gard (UK) Limited.

(A) Long-term results for Gard (UK) Limited The Directors have given due consideration to the likely consequences of their decisions in the long term and have reached their decisions in good faith, with a view to promoting the continued and sustainable success of the Company’s business.

(B) Our workforce The Directors, together with the Company’s leadership team, continue to actively engage with employees in order to develop and embed positive Company culture and create an enhanced working environment.

The Company has revised its Remote Working Policy (RWP) benchmarking it against business peers in response to changing expectations within the insurance market of in person meetings whilst maintaining the Company’s competitiveness as an employer. In addition, the revised policy will enhance the Company’s ability to continue to share knowledge, build upon positive company culture and maximise learning and development opportunities especially for new joiners. The Company continues to promote the physical and mental wellbeing of employees with an employee led working group established to organise inclusive events to further this aim. Cross team events continue to be organised with internal and external speakers to provide learning opportunities in a more social setting and to foster a one company community.

(C) Our business relationships The Company has undergone a re-organisation of its business teams in line with the Company’s Group’s market focused team structure in order to enhance and simplify communication channels and points of contact at all levels for external stakeholders. Employee participation at all levels in industry forums continues to develop positively, which in turn, serves to further enhance business relationships, influence the industry and improve internal competence and experience, all key contributors to the overall Gard Group strategy.

(D) The community and our environment – how do Gard (UK) Limited operations impact the community and environment The Directors actively support the Gard Group‘s focus on sustainability and follow this through at company level. Gard (UK) Ltd continues to monitor and submit its own carbon footprint data for the Gard Group’s Annual Report. The Company continues its commitment to Sea Cadet Training and its relationships with maritime educational and other community establishments. The Company has recently established a Charities committee to advise on donations to organisations which are in line with the Group’s sustainability objectives. The Company through its dedicated industry liaison team provides strategic support to the Gard Group in its sustainability journey. Company employees participate in a broad and growing range of industry initiatives related to the green transition in shipping and both the Company and the Gard Group continue to explore new opportunities, knowledge sharing and co-operation with like-minded partners.

(E) Our reputation for high standards of business conduct The Directors are committed to high standards of integrity and business conduct in line with the ethos of the Gard Group. The Company adopts the Gard Group Code of Ethics and Business Conduct including its external whistle blowing channel and keeps under review with the aim of enhancing its Know Your Customer processes in line with the wider Gard Group ambitions. On a more local level, the Directors, through the Company’s compliance team, monitor regulatory developments to adapt and respond promptly and effectively to any changes in laws and regulations affecting the Company with particular attention to international sanctions given the international nature of the Company’s business.

The Directors continue to pay due regard to their duties under the Senior Managers and Certification Regime (SMCR) scheme and an annual fitness and proprietary assessment of relevant individuals and a dedicated SMCR training module for relevant employees is included as part of an annual compliance wheel.

(F) Fairness between our shareholders Gard (UK) Limited is a wholly owned subsidiary within the Gard Group and as such is aligned with the Gard group business strategy. There is close co-operation between the Directors and the Gard group leadership team. With an ultimate common ownership, common interest of purpose exists between shareholders and through this, the Directors exercise fairness between its shareholders in their decision making.