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Gable braced for December flood losses

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European nonlife insurer Gable Holdings Inc. said it expects to post a pretax loss of up to £8 million ($11.5 million) in 2015, partly driven by the December flooding claims in the United Kingdom and Europe, reported London South East.

The insurer said that claims from the floods are expected to be between £2 million and £3 million after reinsurance arrangements. Gable said that its gross written premiums increased 25% year on year to over £100 million in 2015.

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