Insurance and reinsurance to commercial businesses, Gable Holdings (AIM: GAH) climber higher after the company announced that it had secured a contract to provide property and liability related risk insurance to an undisclosed French insurance broker.
The insurance will be provided over the next three months and is anticipated to generate revenues of approximately €2.0 million. Enticingly, Gable Holding further stated that it was anticipating further programmes of insurance from French broker and that in general, the insurance will be renewable annually.
“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,” commented William Dewsall, Chief Executive of Gable Holdings.