GABLE ENTERS UK MOTOR MARKET

European non-life insurance company Gable Holdings Inc has today announced plans to enter the competitive UK motor market. The insurer, which is based in the Cayman Islands but has offices in London and Liechtenstein, has received regulatory approval to underwrite land vehicles, motor vehicle liability and goods in transit. Gable Holdings, which is listed on the London stock exchange, said that it expects to commence writing new motor business in the final quarter of 2014. William Dewsall, Gable Holdings Chief Executive, said there are various profitable opportunities available to Gable in this area of the market. “Gable has already received significant demand for niche products in motor from our brokers and producers in the UK where the market size is clearly substantial,” said Mr Dewsall. “We anticipate that we will be writing considerable levels of new business across a range of niche areas where we will design bespoke products to satisfy embedded demand from distribution networks in the UK,” he said. In March the company entered into an underwriting agreement with Lloyd's brokers, Kinetic Insurance Brokers Limited and CHJ Management to underwrite specialist commercial surety bonds in the UK and Europe.