Gard results

Gard has announced strong half-year results, particularly in the P&I market. The group's results for the period 1 January 2023 to 30 June 2023, on an estimated total call basis, were US$59 million; a technical profit of $4 million; a non-technical profit of $54 million, including taxation and other comprehensive loss; a combined ratio net of 99 per cent; and equity of $1,307 million (on an actual call basis). Gard CEO, Rolf Thore Roppestad, said: "We have seen an increase in claims on the hull portfolio, but volatility will always be a part of our business and it is too early to say whether this represents an altered claims trend. Overall, we are very happy with our performance so far this year."