9th May 2013 07:00
9 May 2013
Gable Holdings Inc
("Gable" or the "Company")
Gable launches first product in Italy
Gable Holdings Inc (AIM: GAH.L), the European non-life insurance company, is delighted to announce that it has launched its first product in Italy, providing bonds for companies bidding and undertaking work for state and public corporations. The new product is projected to add in excess of EUR 8 million in annualised gross written premium.
Gable has commenced writing a programme of business working in partnership with Arthur J. Gallagher International, Genoa London Underwriting Agency Srl and Rela Broking SrL. Each is highly experienced in this area of the Italian market providing bonding and financial products to a wide range of Italian businesses.
Under Italian Law it is obligatory for companies bidding for and undertaking work for both State and public corporations to provide certification such as Bid Bonds and Performance Bonds which guarantee execution of a tender and the subsequent execution of works.
Commenting, William Dewsall, Chief Executive of Gable Holdings Inc., said:
"I would like to welcome our new partners in Italy where we have commenced our first programme of business following significant analysis into this area. We are working with highly experienced brokers in this enormous area of the Italian insurance market.
"The Italian bond market is one of the largest in the World and we believe that the timing is now appropriate for Gable to enter this particular area which we believe will produce a high volume of smaller premiums with proven low loss ratios.
"Working with our highly experienced partners we believe we can establish a strong platform of new business in this arena which is forecast to experience excellent levels of growth over the coming years."
Enquiries: |
|
Gable Holdings Inc. William Dewsall, Chief Executive | Tel: +44 (0) 20 7337 7460 |
Panmure Gordon & Co. Fred Walsh | Tel: +44 (0) 20 7886 2500 |
Gable Communications Limited Justine James /John Bick | Tel : +44 (0) 20 7193 7463 Tel : +44 (0) 7525 324431 |
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, Denmark, France, Germany, Italy, 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.
Related Shares:
GAH.L