13th Mar 2014 09:53
LONDON (Alliance News) - Gable Holdings Inc Thursday said it entered into an underwriting agreement with two Lloyd's of London brokers, Kinetic Insurance Brokers Ltd and CHJ Management, to underwrite specialist commercial surety bonds within the UK and EU markets, which is expected to add about GBP5.0 million to gross written premiums a year.
The non-life insurer said policies are designed to provide cover over a 12-month period.
Gable said it has already begun to write business.
"We are very pleased to be working with Kinetic Insurance Brokers and CHJ Management to underwrite a range of specialist surety products and look forward to further profitable development of this class," William Dewsall, chief executive, said in a statement.
Gable shares were Thursday quoted at 79.80 pence, up 2.0%.
By Samuel Agini; [email protected]; @samuelagini
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