16th Jul 2015 08:35
LONDON (Alliance News) - Insurer Gable Holdings Inc on Thursday said it has signed a 50% quota share agreement with Swiss reinsurance company Swiss Re.
Under the terms of the deal, Gable will provide a package motor, personal accident and household insurance policies for the domestic Danish market. Under a quota share arrangement, a fixed percentage of each insurance policy is reinsured, in this case 50%.
The three-year deal will be administered in Denmark by Husejernes Forsikring Assurance Agentur AS and Howden Insurance Brokers AB. It expected to deliver annualised gross written premiums of around GBP3 million, Gable said.
"We are delighted to be working alongside Swiss Re on a quota share partnership and our Danish partner Husejernes Forsikring Assurance, for the launch of this new combined product which broadens our product range in the Danish market," said Gable Chief Executive William Dewsall.
Shares in Gable were up 6.1% to 24.92 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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