5th Mar 2014 07:00
5 March 2014
Gable Holdings Inc.
("Gable" or "the Company")
New territory product launch in Sweden
New UK programmes
Notice of Results
Gable Holdings Inc. (GAH.L), the European non-life insurance company, announces the following trading update:
Sweden - First Products
Gable has commenced writing insurance business for the first time in Sweden providing commercial combined products in the education sector and retail property sector.
Policies are designed to provide cover over a 12 month period and Gable has commenced writing business which is anticipated to deliver gross written premiums in the region of £2.25 million pro-rata per annum.
Expansion of Distribution in UK
Gable has continued to establish additional selected distribution partners in the UK and as a result commenced writing new business in the first quarter in the UK, predominantly commercial combined cover for UK SMEs which will provide additional annualised gross premiums in the region of £6.0 million.
2013 Final Results
Gable will be announcing its final results for the year ended 31 December 2013 in May 2014. The Board is pleased to report that the numbers for the year end to 31 December 2013 are anticipated to be in line with current market expectations.
Gable has had a strong start to the year and current indications are for a robust performance in 2014.
Commenting, William Dewsall, Chief Executive, said: "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.
"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."
Enquiries:
Gable Holdings Inc. William Dewsall, Chief Executive Michael Hirschfield, Group Finance Director
| tel: +44 (0) 20 7337 7460 |
Panmure Gordon Fred Walsh / Atholl Tweedie, Corporate Finance Adam Pollock / Maisie Atkinson, Corporate Broking
| tel: +44 (0) 20 7886 2500 |
Gable Communications John Bick / Justine James | tel: +44 (0) 20 7193 7463 +44 (0)7872 061007 |
About Gable Holdings Inc
Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the UK. 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