Gard reports resilient 2025 results in a challenging claims year in Marine Insurance P&I Club News 24/03/2026 The results were presented together with Gard’s annual integrated report, outlining how the Group is progressing toward its strategic goals and highlighting key developments throughout the year. Financial highlights include: Gross written premium: USD 1,312 million Combined ratio, net (CRN): 105,3% Insurance (technical) result: USD -58 million Investment (nontechnical) result: USD 301 million Result after tax: USD 229 million Equity: USD 1,745 million A year of progress and delivery It was a strong year for financial markets, and Gard’s investment portfolio delivered solid performance across all major asset classes. Gard also finalised the integration of the Codan Marine & Energy portfolio. While attritional claims have been slightly below expectations, a higher number of large claims contributed to the negative insurance result. The year also saw progress within digital services, loss prevention and safety initiatives, including making SafeMind available free of charge to Members. Returning value to Members For the 18th consecutive year, Gard’s Board of Directors decided to return capital to Members through a 10 per cent Owners’ General Discount for the 2026 policy year. This decision reflects Gard’s strong financial position and its continued focus on maintaining underwriting balance and longterm financial strength. “Being able to return excess capital to our Members while preserving our strong capital position is fundamental to how we run Gard. It reflects the depth of our financial strength and the discipline that underpins everything we do. Even in a year with more volatility in claims, we remained financially very strong”, said Gard CEO Rolf Thore Roppestad. Trusted partner in risk management The year was marked by significant geopolitical turbulence. Sanctions and the shadow fleet continued to present operational challenges and significant complexity. “The risk picture is becoming more complex, but our fundamentals remain the same. Disciplined underwriting, effective casualty response and strong loss prevention efforts are at the heart of how we support our Members. In addition, we are investing in digital tools and insight that help us stay ahead of emerging risks, so we can continue to be a reliable partner in a challenging environment. The retention rate at the 20 February P&I renewal was 99.6%. We thank our Members for their strong vote of confidence”, said Roppestad. Source: Gard, https://www.gard.no/en/about-gard/company-news/gard-reports-resilient-2025-results-in-a-challenging-claims-year/ 2026-03-24 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share