What Gard does

Gard is a mutual Protection and Indemnity (P&I) insurance association headquartered in Arendal, Norway, founded in 1907. The company insures approximately 18,000 vessels above 1,000 GT and is reported to cover around 50% of the global merchant fleet, positioning it as the world's largest marine and energy insurer by tonnage share. Gard is a member of the International Group of P&I Clubs (IGP&I), whose twelve member clubs collectively cover approximately 90% of global ocean-going tonnage. The group operates through Gard AS as the parent entity alongside three wholly-owned operating subsidiaries: Gard P. & I. (Bermuda) Ltd., Gard Marine & Energy Limited, and Gard Marine & Energy Insurance (Europe) AS.

Gard's product portfolio is organized across six client segments: Shipowners (P&I, hull and machinery, war risk), Charterers and Traders, Shipbuilding, Offshore Contractors, Energy Exploration and Production, and Renewables. The core underwriting technology centers on maritime risk management with integrated loss prevention services, supported by proprietary claims data analysis including a six-year scrubber claims study (2020-2025) and crew welfare reporting showing suicides exceeded fatal accidents at sea in 2024. Distribution is exclusively direct: as a mutual, shipowners and operators become members of the association rather than buying through brokers, with no public pricing tiers disclosed. Pricing is quote-based and varies by vessel type, trading area, and risk profile; war risk premiums reportedly surged from 0.10-0.125% of vessel value to 2-3% in the Persian Gulf following the early 2026 US-Israel conflict with Iran. The company employs 800 people across 15 offices globally, representing over 30 nationalities, and generates revenue through recurring annual premium calls supplemented by investment income on reserves.

Name

Gard

Legal name

Gard AS

Website

https://gard.no

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

251–500 employees

Short description

Gard is a Norway-based mutual P&I insurance association insuring approximately 18,000 vessels and around 50% of the global merchant fleet, serving shipowners, charterers, offshore contractors, and energy companies through direct membership across 15 global offices.

Ownership category

akta.pro rank

Product category

Marine Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

akta.pro secondary industries

Energy & Power Specialty (Onshore/Offshore) (FSAJAGAI), Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)

Keywords

• Marine insurance
• P&amp
• I insurance
• Hull insurance
• Energy insurance
• Loss prevention services

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Marine Insurance Premiums: Gard operates as a Protection and Indemnity (P&I) Club, a mutual insurance association. Shipowners and operators pay premiums (calls) to become members and receive insurance coverage for third-party liabilities, including crew injury, cargo damage, pollution, and collision. Revenue is generated through member premiums and investment income.
2. Hull and Machinery Insurance: Provides insurance coverage for physical damage to vessels and machinery, complementing the P&I coverage.
3. War Risk Insurance: Coverage for vessels operating in war risk areas, including the Persian Gulf, Red Sea, and other conflict zones. This became particularly significant in early 2026 following the US-Israel conflict with Iran.
4. Energy and Offshore Insurance: Insurance products for offshore contractors, energy exploration and production companies, and renewable energy sector participants.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Gard operates as a mutual Protection and Indemnity (P&I) Club and marine/energy insurer providing P&I, hull and machinery, war risk, offshore, energy E&P, and renewables coverage to shipowners, charterers, shipbuilders, offshore contractors, and energy companies. Members are direct, paying pooled premiums through annual calls, and the company supplements insurance with integrated loss prevention, claims handling, and maritime risk advisory services across 15 global offices.

Product overview

Gard operates as a marine and energy insurer offering a comprehensive portfolio of insurance products organized by client segment: Shipowners, Charterers and Traders, Shipbuilding, Offshore Contractors, Energy Exploration and Production, and Renewables. The company supplements its core insurance offerings with Loss Prevention Services that provide safety guidance, insights, and risk management resources. Gard insures approximately 18,000 vessels above 1000 GT and covers around 50% of the global merchant fleet. The company is a member of the International Group of P&I Clubs and operates through 15 offices worldwide with over 800 employees.

Differentiator

Problem solved

Functional benefit

Products and services

• Shipowners Insurance Marine insurance coverage for shipowners and operators, providing Protection and Indemnity (P&I) insurance, hull and machinery coverage, and war risk insurance for vessels. It targets commercial vessel owners requiring third-party liability coverage for crew injury, cargo damage, pollution, and collision.
• Charterers and Traders Insurance Insurance products for charterers and commodity traders covering liability, cargo, and trading-related risks in maritime operations. It is designed for charterers and commodity traders facing exposure when chartering vessels and trading commodities globally.
• Shipbuilding Insurance Specialized insurance coverage for shipbuilding projects, including builder's risks, construction delays, and liability coverage during the building process. It targets shipbuilders and newbuilding project insurers.
• Offshore Contractors Insurance Insurance solutions for offshore energy contractors, covering marine construction vessels, drilling units, and associated operational risks. It is for offshore contractors undertaking high-risk offshore operations.
• Energy Exploration and Production Insurance Insurance coverage for offshore energy operations including exploration, production, and related marine energy activities. It is intended for oil and gas exploration and production companies operating offshore.
• Renewables Insurance Insurance products covering offshore wind, floating wind, and other renewable energy maritime operations and assets. It is aimed at renewables operators including offshore wind farm developers and maritime renewable logistics firms.
• Loss Prevention Services Risk management advisory services including safety campaigns, loss prevention insights, case studies, videos, posters, and guidance on maritime safety practices. It targets Gard's members and the broader maritime industry with the goal of preventing losses.

Quantifiable outcome

• Insures approximately 50% of global merchant fleet
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• NAVTORcoreTechnology or Integration · 11 March 2026Gard partnered with maritime technology company NAVTOR to embed Gard's loss prevention content into NAVTOR's NavStation platform, used by over 18,000 vessels globally. The integration provides crews with immediate access to safety guidance during operational and voyage planning activities, enhancing risk management practices across the maritime industry.
• International Group of P&I Clubs (IG)coreStrategic or Co-development PartnerGard is a member of the International Group of P&I Clubs, which together provides insurance coverage for approximately 90% of global ocean-going tonnage. The IG enables pooling of large claims and provides collective representation on maritime regulatory matters.
• CeforminorStrategic or Co-development PartnerNorwegian marine insurance association providing industry collaboration and statistical data sharing for the Nordic marine insurance market.
• Maritime Anti-Corruption Network (MACN)minorStrategic or Co-development PartnerGlobal network working towards maritime integrity and anti-corruption practices. Gard participates as a member supporting efforts to address corruption in ports and shipping.
• OSM ThomeminorStrategic or Co-development PartnerNorwegian ship manager cooperating with Gard and others on a feasibility study evaluating nuclear power conversion for vessels using Ultra Safe Nuclear Corporation's Micro Modular Reactor. Gard provides insurance perspective on nuclear propulsion viability.
• ABBminorStrategic or Co-development PartnerTechnology partner in the nuclear propulsion feasibility study, providing technical expertise alongside Gard's insurance assessment.

Scale indicators7 records

Direct peers

• NorthStandard: One of the largest International Group P&I Clubs (formed by merger of the UK P&I Club and the Standard Club); offers the same mutual P&I model and competes with Gard for global shipowner memberships.
• Steamship Mutual: International Group P&I Club providing P&I, hull, and freight, demurrage and defence cover to shipowners worldwide — directly comparable mutual competitor to Gard.
• Skuld: Norway-based IG P&I Club with very similar heritage and product mix (P&I, hull, war risk, offshore energy); like Gard, it is a Norwegian-headquartered mutual with global offices.
• The Swedish Club: Another Nordic-based IG P&I Club offering P&I, hull and marine energy insurance with a strong loss-prevention function — closely comparable in size and customer base to Gard.
• Britannia P&I Club: International Group P&I Club providing P&I, FD&D and ancillary cover to shipowners globally — directly competes with Gard in the same mutual/IG framework.
• The American Club: US-based IG P&I Club serving a large portion of international tonnage; another mutual competitor with overlapping product breadth and similar claims-handling scope.

Broad incumbents

• Allianz Global Corporate & Specialty (AGCS) — Marine: Commercial marine insurer (Hull, P&I and offshore energy) within a large global insurance group; competes with Gard particularly in the commercial, fixed-premium marine and energy segments that sit outside the mutual IG pool.
• AXA XL — Marine: Major commercial marine and offshore energy insurer; broader property & casualty portfolio but marine practice directly overlaps Gard's hull, offshore and energy products.
• Liberty Mutual Insurance — Marine: Global marine and offshore energy underwriter within a large diversified carrier; comparable in hull/offshore energy but operates on a commercial, non-mutual basis.

Others

• Cefor: Nordic marine insurance association of which Gard is itself a member; provides industry data, statistics, and a forum — relevant as an ecosystem/peer reference rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubesoundcloud.com/user-785154695
• Facebookfacebook.com/GardGroup
• LinkedInlinkedin.com/company/gard-as
• Xx.com/gard_insurance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gard