Gard have announced that no General Increase will apply for the 2017 P&I and FD&D renewal and that Members should continue to budget for the current 25% Deferred Call on the 2016/7 year.  Gard would usually announce any reductions in their Deferred Calls for 2016 at their Board meeting in May 2017.

The decision to announce a nil General Increase, in line with the other IG clubs, comes on the back of the following results for the first 6 months of the 2016 financial year ending 20 August: • Result after tax of USD 97 million • Combined ratio net (CRN) of 97 per cent • Investment return of USD 82 million • Equity (Free Reserves) of USD 1,114 million

The Club have closed the 2013 year and both the 2014 and 2015 open years (both having benefitted from previously reduced Deferred Calls) are expected to be closed with no further calls being levied.

Release Calls have been updated as follows:

2014 – 5%

2015 – 5%

2016 – 20%

2017 – 20%

Standard deductibles will remain unchanged for the 2017 policy year.

The Club’s full circular can be found here.