The decision was announced following Gard’s Board of Directors meeting last week.
Furthermore, the Board of Directors decided that a 5% increase will apply to mutual P&I to meet the development in claims. These adjustments reflect Gard’s strong financial position and commitment to returning value to its Members, whilst maintaining underwriting balance and long-term resilience.
“Gard’s strong financial results, robust capital base and strong mutual membership create the opportunity to offer a substantial Owners’ General Discount to our Members also in a year with a higher influx of large claims. This reflects our commitment to returning excess capital to the membership while maintaining long-term financial strength”, says Gard CEO Rolf Thore Roppestad.
Gard’s positive half-year results for 2025 reflect the group’s resilience in a challenging claims environment.
“Our model means that while we must price insurance adequately for the future, we also return excess capital to Members when possible, reducing their actual cost. Despite an eventful year with several medium to large claims, Gard’s financial strength and favourable investment income enable us to continue to offer an Owners’ General Discount. At the same time, it is important to maintain underwriting balance, which is reflected in the moderate premium increase for 2026”, says Gard EVP & CUO Bjørnar Andresen.
The discount is calculated as a percentage of the agreed ‘Estimated Total Call’ (ETC), the total premium required for the upcoming policy year. Gard’s strategic direction remains clear: to deliver long-term value to our Members and clients, and to remain a trusted partner in risk mitigation.
Notes to Editors
Gard is a shipowner-controlled provider of P&I, marine and energy insurance products, with gross written premium of USD 1,193 million. Gard has more than 770 staff in 14 offices around the world.
The direct insurance entities within the Gard group (Gard P. & I. (Bermuda) Ltd, Assuranceforeningen Gard, Gard Marine & Energy Limited and Gard Marine & Energy Insurance (Europe) Limited) are rated A+ with a stable outlook by Standard & Poor’s.
Contact
Ingmar Brokka Rike, Communication Executive, Gard
