Gard acquires marine and energy portfolio from If P&C
DRAFT Gard acquires marine and energy portfolio from If P&C The Committee of Assuranceforeningen Gard, at its meeting in Geneva on the 27th of October, decided that the Association will acquire the Marine and Energy (M&E) portfolio from If P&C Insurance Ltd (publ) ("If"), through the establishment of a new company. This new vehicle will; · continue to be managed by Gard Services, · be structured to obtain an A range, or better, from a leading rating agency, · have shareholders' equity of USD 190 million, USD 110 million provided by the Association and USD 80 million by If, · maintain the