Liechtenstein-based insurer signs underwriting agreement with Lloyd’s broker Kinetic
Gable has signed a deal to underwrite up to £5m of specialist commercial surety bonds in the UK and EU markets.
Under the deal, Liechtenstein-based Gable will underwrite surety bonds placed with it by Lloyd’s broker Kinetic and Kent-based surety bond marketing agent CHJ Management for a year.
Surety bonds cover the risk of one party in a transaction failing to meet its obligation to the other. They are often used to cover building projects.
Gable chief executive William Dewsall said: “We are pleased to be working with Kinetic Insurance Brokers and CHJ Management to underwrite a range of specialist surety products and look forward to further profitable development of this class.”
Kinetic chief executive John Mitchell added: “Kinetic Insurance Brokers Limited in association with CHJ Management are delighted to be working with Gable, whose flexible and experienced approach to underwriting this niche class has been a deciding factor.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet