11th Sep 2014 13:41
LONDON (Alliance News) - Gable Holdings Inc's Chief Executive has further cemented his position as the European non-life insurance company's largest shareholder after adding to his stake, according to a statement issued just hours after the company Thursday revealed a drop in first-half pretax profit.
According to Gable, William Dewsall bought 100,000 shares at 75.5 pence each. He now owns 24.6 million Gable shares, about 18% of the company.
Earlier Thursday the underwriter of policies for the commercial sectors in the UK, Denmark, France, Germany, Italy, Norway, Spain and Sweden, said it made a GBP2.5 million pretax profit in the six months ended June 30, compared with GBP4.0 million in the corresponding period last year, as it opted to set aside an additional risk margin following a property fire claim.
In addition, Finance Director Mike Hirschfield has acquired 13,150 shares in the company at 75.25p each, giving him a 0.27% stake in the company.
Shares in Gable Holdings were Thursday quoted down 6.3% at 74.00 pence per share.
By Samuel Agini; [email protected]; @samuelagini
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