The Norwegian P&I mutual, which also writes hull and other marine and energy business, had $1,047m of uncommitted funds in its kitty as of 20 August.
Gard had a stunning first half marked by strong underwriting profitability that produced a combined ratio of 78%, much improved on the marginal result of recent years.
Underwriting contributed two thirds and a 2.2% investment return the balance of the first half profit of $129m.
TradeWinds
