GAH Gable Hldgs

TIDMGAH

RNS Number : 1107I

Gable Holdings Inc

23 March 2015

23 March 2015

Gable Holdings Inc.

("Gable" or the "Company")

Agreement with Movinsure in Italy

Quota Share Agreement with Qatar Re

Gable Holdings (AIM: GAH.L), the European non-life insurance company, announces an agreement with Movinsure, an Italian underwriter providing highly selective, risk managed motor insurance for Italian domestic third party motor liability commercial fleet accounts. Movinsure was founded in 2010 by Carlo Faina, CEO of Movinsure and Managing Director of Berkshire Hathaway Italia.

Gable's underwriting programme has a fully qualifying quota share with a panel of reinsurers led by Qatar Re. The new capacity is anticipated to deliver an initial Euro 10 million of gross written premiums per annum to Gable and is expected to be the first stage of a substantial annual programme.

Movinsure was formed as an Italian underwriting vehicle following rigorous market research to construct an actuarial rating plan and the creation of an underwriting software platform. Movinsure provides a third party motor liability product with a high level of service to selected specialist commercial motor fleets operating in Italy. The programme targets a consistently profitable segment of this Euro 2bn per annum market.

The term of the agreement is 5 years and will be administered in London by Robert Fleming Insurance Brokers.

Commenting, William Dewsall, Chief Executive, said: "Gable's agreement with Movinsure and our quota share with Qatar Re marks a major movement in new business for Gable in the Italian market. We have been very impressed with Movinsure, particularly its strategy to provide high service levels to selective major accounts in the Italian commercial motor fleet market in a segment of that major market which is consistently profitable. Movinsure utilises sophisticated actuarial risk modelling and the programme is supported by A rated reinsurance."

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Enquiries:

 
 Gable Holdings Inc.                            tel: +44 (0) 20 7337 
  William Dewsall, Chief Executive               7460 
  Michael Hirschfield, Group Finance Director 
 Numis Securities Limited                       tel: +44 (0) 20 7260 
  Robert Bruce/Adrian Trimmings, Corporate       1000 
  Finance 
  Charles Farquhar, Corporate Broking 
 Gable Communications Limited                   tel: +44 (0) 20 7193 
  John Bick                                      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 the UK, Denmark, France, Germany, Italy, the Netherlands, Norway, Spain and Sweden. 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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