Leading marine insurer Gard has said it will increase its annual refund to members who renew their protection and indemnity policy next February.
Renewing shipowner members will get a 10% owners’ general discount on their annual premium, compared to 5% at the previous renewal.
The decision comes following a recent improvement in the financial performance of Gard’s mutual P&I business and a further strengthening of its free reserves which already exceed $1bn.
