Gard posts 2006 profit

ARENDAL, Norway—Norwegian insurance company, the Gard Group, has announced an $83 million profit after tax for the year ending 20 February 2007.

Gross written premiums were up 16% to $647 million, and the combined net ratio stood at 111%.

The Gard Group is a shipowner-controlled, diversified provider of protection and indemnity, marine and energy insurance products, with total assets in excess of $1.7 billion.