Gable plans Netherlands and Belgium entry after profits rise

European non-life insurance company Gable Holdings said it was planning to launch into two new countries this year after lifting profits by a quarter in the first half. The group, which entered Germany and Denmark last year and Italy in May, said the management team were in the advanced stages of entering into the Netherlands and Belgium.It comes after a strong first half when Gable's pre-tax profits rose 25% to £4m after gross written premium jumped 77% to £27.3m. The company reported good progress in the UK, France and Norway and said it had made a good start in its new markets - Denmark, Germany and Italy.The growth in the business has continued into the second half of 2013Chief Executive William Dewsall said: "The board is therefore confident that Gable has a platform to deliver a very strong year of growth in 2013 in line with management expectations."However, no dividend will be paid.Shares in Gable Holdings were up 3.76% at 69p at 08:21 on Friday.TB