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Assuranceforeningen Gard is an international mutual marine insurance company based in Arendal, Norway. The comany has offices in Arendal, Bergen, Bermuda, Gothenburg, Helsinki, Hong Kong, London, New York, Oslo and Tokyo with a total of 340 employees.
Gard was formed in 1907 in the southern Norwegian town of Arendal when the local shipowners began to feel the need to reduce the costs of their marine liabilities. So they selected a homogenous fleet of similar ships, owners and trades and invited them to sign up for a “sailing ships only” mutual club. The idea turned out to be a good one, and the club continued this practice until 1915, when reluctantly, steamers were admitted for the first time. However, the “one for all, all for one” idea of the founding members survived, though membership was more or less restricted to the geographical area of the initial members.
The club grew steadily between the wars and in the late 1920’s, Assuranceforeningen Gard formed a special relationship with tanker owners through the acquisition in the region of a number of Anglo-Saxon (ex Shell) tankers – a relationship still in existence today. The war and its aftermath made the management realise that concentrating solely on Norwegian ships was too narrow a base on which to build a stable and financially secure organisation. Therefore, the club insured its first non-Scandinavian member, a German fleet, in 1958. In 1961, a major American fleet joined the club – and is still a member!
Gard is now the second largest club in the world in terms of combined owners’ and charterers’ tonnage, and represents a major force in the industry with a 12.5 per cent global bluewater hull market share and Members from all parts of the world. Around two thirds are domiciled in European and Scandinavian countries while the balance represents major industrial shipping interests in Asia and the Americas. The types of ships insured comprise virtually all segments of the industry, from tankers and bulkers via passenger ships and fast ferries to LNG carriers and specialist vessels.
no:Assuranceforeningen Gard
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