GARD: 09/2026 Premium policy for the 2027 policy year

In a recent board meeting, the Directors of the Gard group's mutual Associations agreed on the premium policy for the 2027 policy year. The Gard group continues to maintain a strong capital base, with an A+ (stable outlook) rating from Standard and Poor’s, the highest among P&I clubs in the International Group of P&I Clubs. At its recent meetings, the Board agreed on a 10% owners’ general discount (OGD) based on the Estimated Total Call (ETC) for vessels renewed by Members with Gard for the 2027 policy year.

Though the Board remains content with the Association's performance, as the Mutual P&I portfolio is offered at competitive pricing, there is a need to ensure stability in the portfolio going forward. Therefore, the Board of Directors decided to impose an average 4% premium increase on the ETC for the 2027 renewal. As usual, underwriters will perform individual assessments based on price levels and loss records.

Any future excess capital for Gard as a group will continue to be deducted from the ETC premium through an Owners’ General Discount. The Board also approved closing the 2023 policy year without any supplementary call and decided on the Estimated Total Call and Release Calls for the open policy years 2024, 2025, and 2026, all of which will be underwritten with a 10% Owners’ General Discount (OGD) on the ETC.