Another premium discount appears to be in prospect for the shipowner members of Gard after an extraordinary good first half that lifted the free reserve beyond the $1bn mark.
The strong performance means that shipowners in the biggest of the protection-and-indemnity (P&I) clubs face only a 2.5% general increase in February, half the level of recent years.
Gard had no big claims through the first six months of the current P&I year, with its marine hull and offshore energy business also enjoying an exceptionally good run.
