Gard chief executive defends small deficit
Extensive commercial activities designed to subsidise mutuality allow biggest P&I club consistently to register combined ratios of just over 100% without any problems
Gard’s ‘104% is one of the best combined ratios you will find in the industry, very close to the target. We are able to compensate for a small technical loss with other sources of income,’ says chief executive Rolf Thore Roppestad
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