Company news

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.

This year, we celebrate the 30th anniversary of the opening of the Japan branch of Assuranceforeningen Gard.

It is with great sadness we have received the news of the death of Leif Terje Løddesøl, a former Chairman of the Committee of Assuranceforeningen Gard – gjensidig, at the age of 86. 

For the first half of the 2021 financial year, the Gard group results have been negatively impacted by the continuing trend of large Pool claims, as well as COVID-19 related crew claims and pandemic-driven cost increases in hull, loss of hire and P&I casualty.

The Institute of Maritime Law and Gard are pleased to announce the establishment of the «IML Gard Fund», which was launched on 20 October in the presence of the Vice-Chancellor and President of the University of Southampton Professor Mark E. Smith, Mr Tim Howse, Vice President Industry Liaison, Gard, and Dr Alexandros X.M. Ntovas, Director of the Institute of Maritime Law.

A very strong financial risk profile combined with its market share means Gard will remain the dominant player in the P&I segment and a significant participant in the marine market more generally, according to S&P.

We have added a second correspondent for P&I matters in the Ukraine, with effect from 14 October 2021.

We have added a second correspondent for P&I and Hull & Machinery matters in the port of Jakarta in Indonesia.

Gard’s underwriting team in London handles a broad range of marine insurance products and has recently been further strengthened with additional strong market expertise.

The annual IUMI conference will take place online on 2 to 15 September. The theme of this year’s conference is ‘Pathways to a sustainable, resilient and innovative future’.