£70m 5-year Towergate agreement

5 December 2012

Gable Holdings Inc

("Gable" or "the Company")

Gable signs £70 million 5-year agreement with Towergate Underwriting

Gable Holdings (AIM: GAH.L), the European non-life insurance company, is delighted to announce that it has agreed a 5 year partnership with Towergate Underwriting, the UK's largest MGA and part of the Towergate Group.

Under the agreement, Gable will act as a cover provider for Towergate Underwriting from January 2013. The partnership is projected to result in a minimum of £14 million per annum gross written premium. Gable will provide exclusive capacity for a range of non standard products which will be available to all of Towergate Underwritings' broker customers.

Commenting on the agreement, William Dewsall, Chief Executive of Gable Holdings, said:

"Towergate Underwriting is the largest and most successful MGA in the UK and we are delighted to be working with them. This agreement represents circa £70 million of gross written premium over the next 5 years and is Gable's largest commercial agreement to date. We are already working closely with the teams at Towergate to develop a broad range of traditional, bespoke and exclusive products for their UK clients."

Clive Nathan, Chief Executive of Towergate Underwriting commented:

"Gable is an ideal partner for Towergate Underwriting as we look to continually expand our underwriting reach and to extend our market leadership. Gable has the appetite to support these ambitions and has shown it's commitment to building a long term partnership by signing a 5 year agreement. We look forward to working closely with them to deliver relevant, quality products to our broking customers."

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About Towergate Insurance

Towergate Underwriting is part of Towergate Insurance, one of the UK's leading providers of specialist insurance products and Europe's largest independently owned insurance intermediary.

With over 5,500 employees, across 150 locations and over 250 acquisitions completed over 15 years, Towergate Insurance is a leading chartered intermediary in the UK.

Towergate Underwriting Group Limited is authorised and regulated by the Financial Services Authority.

For further information regarding Towergate Insurance please visit www.towergate.com. For press enquiries, Please contact Kelly-Ann Knight, Group Head of External Communications, 07717 866190.

About Gable Holdings Inc

Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in the UK, France, Germany, Norway and Spain. Gable benefits from a low-cost online underwriting platform and the Company has continued to successfully grow its business geographically whilst simultaneously exploiting a range of niche insurance segments which exist across the EU.

Gable Holdings Inc is quoted on the London Stock Exchange's AIM market (ticker: GAH.L GAH.LN). For further information please visit www.gableholdings.com.