Company news

At the halfway point of the year, 2022 has proved to be every bit as challenging and turbulent as the last two years. We know that our Members and clients are severely hit by war and unrest. In addition comes the continued logistical challenges, crewing shortages, inflation and rising energy costs – a perfect storm of economic turbulence.

Gard sponsors a variety of education and training programs opening up doors to a career in the maritime industry. The ‘Gard cadetship’ is one of them.

Every June, Norwegian students follow a family member to work, getting a sneak peek into a possible future career.  In preparation for this week of work experience, students have the opportunity to "shadow" their parents during a day at work some 12 months earlier. For William Århus Fosen (age 13), he joined his father in Gard – learning about marine insurance, loss prevention - and the future of offshore wind.

Gard today announced that Natalia Calderon and Elizabeth Joseph are this year’s winners of the Claes Isacson Scholarship.

Gard today announced that Lars Lislegard-Bækken is appointed Gard’s new Chief Operating Officer (COO) with Ingvild Høgenes Nilsen taking over as General Counsel.

For the first time, Gard is presenting an integrated annual report outlining its performance for the last financial year against a broad set of parameters, not only financial ones. By looking holistically at all its activities, Gard can measure the value it creates both for its Members and clients and for society at large.  

The Poseidon Principles for Marine Insurance are now entering into force, with AXA XL and Navium Marine joining as Signatories. At the recent founding meeting of the PPMI, Gard CEO Rolf Thore Roppestad was elected Vice Chair of the PPMI Association.

A much-improved underwriting result in the second half of the year has allowed Gard to beat earnings expectations, according to Standard & Poor’s.

New correspondents have been appointed for P&I in Thessaloniki, Greece and for Hull in Willemstad, Curaçao with effect from 20 February 2022.

Gard today announced a record P&I renewal for 2022. Over the last 12 months, 14 million GT have been added, of which almost 80 percent – 11.1 million tonnes, came through at the renewal date. 99.6% of existing tonnage stayed with Gard, bringing the owners’ mutual tonnage to a total of 260 million GT

The Rules for the 2022 policy year contain some alterations to the Rules which applied for the 2021 policy year. Further details of the alterations can be found in our Circular number 10/2021: Amendments to Rules 2022.

Students can now apply for the Claes Isacson Scholarship with a deadline of 1 April 2022. The scholarship, founded and funded by Gard, helps young people finance a maritime education at university level, with a view to finding work in the shipping and marine insurance sector.

Given the hardening market conditions and the well-publicised deterioration in the Group’s claims record with its reinsurance partners, the Group has agreed to pay an increase in premiums to the markets to renew its 2022 reinsurance programme.

‘By perseverance, everything reaches its target,’ the saying goes. Yet another year is soon behind us, and Covid continues to challenge our patience and perseverance. Many of us probably thought we would be back to a more ‘normal’ situation by now, but unfortunately it seems we will have to persevere a while longer.

Gard recently signed up to the Poseidon Principles for Marine Insurance (PPMI). Here is a brief outline of what that means for our Members and clients.

Joining leading marine insurers in a landmark commitment to support shipping’s transition towards a decarbonised future.

Gard announced today that André Werner Kroneberg will be replacing Mark Russell as Managing Director of the Hong Kong office from 1 January 2022.