Gard announces strong renewal in a market seeking stability

Gard announced yet another strong P&I renewal for 2023. Over the last 12 months, 17 million GT have been added, bringing the mutual tonnage to a total of 277 million GT, with 99.4% of the existing tonnage staying with the club.

“This has been a good renewal season for Gard, in which we have seen sustainable growth across regions and segments. Our consistent and fair pricing policy, combined with first class service, has made Gard a great choice for both new and existing Members,” said Gard’s CEO, Rolf Thore Roppestad.

He continued “The late announcement of reinsurance rates from the International Group of P&I Clubs meant that this renewal went right to the wire as some owners waited to see the full picture before making their final decisions. We are delighted that Gard continues to be the preferred insurance partner for a growing part of the world fleet.”