Trading Update

12 March 2012

Gable Holdings Inc

("Gable" or "the Company")

Trading Update

Gable Holdings (AIM: GAH.L), the European non-life insurance company, is pleased to provide an update on trading ahead of its full year results.

As announced in the half year results, the first half of the year was strong and signalled accelerated growth across the Company's European territories as anticipated. The performance in the second half, considering the traditional cyclicality of certain of our products, was in line with expectations.

Gable continues to expand and develop its product ranges and build on its relationship in its UK and European territories:

§ In the UK, the ATE product has shown strong growth and we see this continuing into 2012; construction is in line with management's expectations. In addition, the Company launched a new Commercial Combined product in Q2 which is complimentary to Gable's existing risk profile in the UK market.

§ Gable's French products have performed well and in line with the management team's expectations with the Property Liability product growing particularly well since its launch in 2010.

§ In the rest of Europe the residential Tenant Deposit scheme in Norway which launched in late 2009 has continued to grow as anticipated, which gives Gable a platform to launch this product in other territories such as Germany.

§ Post year end, Gable has extended its agreement in Norway and will now provide a Commercial Rental Guarantee programme to one of the largest private commercial property owners in Norway.

Commenting on the year, William Dewsall, Chief Executive of Gable Holdings, said: "The Board is delighted with Gable's performance in 2011. The 2012 year has started well and we anticipate a strong first half for the business, supported by our growing product range in the UK and Europe."

Gable will announce its full year results in the week commencing 14 May 2012.

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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, 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.