Gable braced for December flood losses
Posted On: Apr. 1, 2016 12:00 AM CSTEuropean 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.