Gard results

Gard has announced its results for the year ending 20 February 2021, reporting a profit after tax of US$68 million on an estimated total call (ETC) basis, a combined ratio net of 104 per cent on ETC basis and gross written premium of $922 million on an ETC basis. The non-technical result was a profit of $113 million, with equity reserves of $1,263 million. Rolf Thore Roppestad, CEO of Gard, said: “Whatever we thought might lie ahead of us all this time last year, I think we can all confidently agree that the reality was not as anyone predicted. This has made for an exceptionally challenging year for everyone in the maritime industry”.