Over the past 12 months, 7 million GT have been added, bringing the club’s mutual tonnage to a total of 284 million GT. 99.4 per cent of the existing tonnage renewed with Gard, reflecting the long-term commitment of the club’s membership.

“It has been a very positive and stable renewal, and we are grateful for the clear vote of confidence,” said Gard CEO, Rolf Thore Roppestad.

“Gard has never been stronger, and we look forward to continue working with our Members and clients, focusing on continuous improvement and on delivering unrivaled service at all times.”

Gard’s Chief Underwriting Officer, Bjørnar Andresen, added: “One of the highlights this season was the large share of newbuilds – more than 10 million GT – committed by renewing Members and to be delivered in the coming months. We are delighted to see this development, confirming that Gard continues to be the preferred insurance partner for a growing part of the world fleet.”