06/2026 Release calls and open policy years

Member Circular No. 06/2026
1 July 2026

The Association’s Board of Directors, and the Boards of its subsidiaries, have
determined that the following procedures and factors shall be followed when
determining the Release Call percentages and the collection of Release Calls when an
entry is terminated or ceases:

• The risk that any previously published levels of estimated premiums may be
exceeded, when assessed using the Association’s methodology for calculating
the capital required, which is determined by considering premium risk, reserve
risk, market risk, and other significant risk categories.
• The wish to maintain a set structure for reducing the Release Call percentage
for each policy year under normal circumstances.

At its meeting on 24 April 2026 the Association’s Board of Directors, made the following
decisions in respect of Release Calls for open policy years:

Release calls
• 2023 policy year: 5 per cent
• 2024 policy year: 5 per cent
• 2025 policy year: 10 per cent
• 2026 policy year: 10 per cent

Open policy years
• 2023 policy year: The year is expected to be closed in November 2026 with no
further calls. The agreed ETC at renewal has been reduced by an OGD of 5%.
• 2024 policy year: The year is expected to be closed in November 2027 with no
further calls. The agreed ETC at renewal has been reduced by an OGD of 10%.
• 2025 policy year: The year is expected to be closed in November 2028 with no
further calls. The agreed ETC at renewal has been reduced by an OGD of 10%.

If you have any questions, please contact Bjørnar Andresen, Group Chief Underwriting
Officer.
Yours faithfully,
GARD AS
Rolf Thore Roppestad
Chief Executive Officer

Source: gard.no