GAH.L Regulatory News (GAH)

27 November 2012

Gable Holdings Inc

("Gable" or "the Company")

Gable launches first product in Denmark

Major new programme for UK ATE product

Gable Holdings (AIM: GAH.L), the European non-life insurance company, is delighted to announce two new business agreements projected to add in excess of £10 million in annualised gross written premium.

Launch of first product in Denmark

Gable has launched its first product into the Danish market where it has commenced writing a programme of business for its Property Liability product with projected gross written premiums of DKK70 million (£7.5 million) annualised in 2013.

Gable is delighted to be working along side Husejernes Forsikring Assurance Agentur AS, whose management team has over 25 years experience working in the insurance sector, also with the highly respected Howden Insurance Brokers AB and claims lawyers, TRønne & Lundgren Law firm, one of the largest and most experienced law firms in this area in Denmark .

New Programme of ATE business in the UK

Gable has also secured a major new After The Event ('ATE') fund client in the UK which provides legal funding to claimants in the UK PPI and financial litigation market. The new business will be written under a rolling policy with monthly cover enabling the claims management company on behalf of the ATE fund, to attach a minimum of three thousand cases a month with projected annualised gross written premium for 2013 of circa £3 million.

Gable's ATE product will provide pecuniary loss cover to support claims on behalf of claimants. The pecuniary loss arises if the claims made on behalf of the claimants fail to secure recovery of compensation.

Commenting, William Dewsall, Chief Executive of Gable Holdings Inc., said:

"We are delighted to be working with such experienced partners in the Danish market and to be launching our first product in Denmark. Our latent defect policy has been very successful in the French arena since its launch in 2010 and we believe that we will see another successful launch in the Danish market.

"In the UK, we will be providing ATE cover to the new £60 million fund and are delighted to be working with the experienced team who have identified a strong area of growth in the UK market where ATE business is currently in excess of £1 billion of premium per annum and we see this area as a major opportunity for Gable.

"The current year continues to trade in line with our expectations and, as the two new programmes of business announced today demonstrate, Gable can look forward to a very strong year of continued growth in 2013."

Ends

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, 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.