RNS Number : 8627T
Gable Holdings Inc
15 June 2009
15 June 2009
Gable Holdings Inc ('Gable' or the 'Company')
French Insurance Broker Agreement Signed
Gable Holdings Inc (AIM: GAH), the insurance and reinsurance provider to commercial businesses across Europe, announces that on 12 June 2009 it received confirmation that a French insurance broker had executed an agreement with Gable to provide a programme of property and liability related risk insurance to the Company.
The Directors expect that the initial programme of insurance to be provided to the Company over the next three months will generate gross annual premium revenue of approximately €2.0 million. The Directors anticipate that further programmes of insurance will be placed by this broker through Gable and that such insurance will, in general, be renewable annually.
William Dewsall, Chief Executive of Gable, commented: 'We are delighted to announce this arrangement which, after taking into account further premiums which we expect to receive, will lead to a significant change in the Company's premium levels. This has been achieved without reducing our current margins.
“As a result of this agreement, which is a key development for Gable, the Board believes that we are well positioned to achieve significant growth in both premiums and profitability. We consider this an excellent achievement given the current economic climate.”
Enquiries:
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Gable Holdings Inc
William Dewsall, Chief Executive
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Tel: +44(0)20 7337 7460
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Arden Partners plc
Chris Fielding
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Tel: +44(0)20 7398 1600
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Hansard Group
Justine James
John Bick
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Tel: +44 (0) 20 7245 1100
Tel: +44 (0) 7525 324431
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This information is provided by RNS
The company news service from the London Stock Exchange
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