5th Mar 2014 09:15
LONDON (Alliance News) - Gable Holdings Inc Wednesday said it expects its 2013 annual results to be in line with current market expectations, as the company continues to expand across Europe, saying it has had a "strong" start to 2014.
Gable said "current indications" are for a "robust" performance in 2014.
"We are delighted to be expanding our geographical coverage with these two new programmes, establishing our presence in the Swedish market for the first time. We look forward to developing additional bespoke products in this market in due course," William Dewsall, chief executive, said in a statement.
"Gable has performed strongly in 2013 and we are seeing an even greater performance in the business to date in the current year which we believe will continue to gain momentum as we grow the top and bottom line and continue to expand our European footprint," Dewsall said.
The insurer said it has begun to write insurance in Sweden, which is anticipated to deliver gross written premiums in the region of GBP2.3 million pro-rata per annum.
In the UK, it has continued to establish additional distribution partners. It said as a result it has commenced writing new business in the first quarter in the UK, predominantly commercial combined cover for UK small and mid-sized companies which will provide additional annualised gross premiums in the region of GBP6.0 million.
Gable said it will report full-year results in May.
Gable shares are up 2.9% at 79.25 pence early Wednesday.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
GAH.L