Marine insurer Gard reported a profitable underwriting result for the first half of the year after claims improved and premium income increased.
Its combined ratio, which reflects underwriting performance, for its marine & energy business and mutual protection-and-indemnity business was 85%, giving it a technical underwriting profit of $68m for the six-month period.
The result is a considerable turnaround from the loss-making 113% combined ratio in the previous year.
