Start-up construction insurer Gable Insurance wants to expand into new classes of business, according to chief executive William Dewsall.

Gable, which received FSA approval to begin trading at the end of December, has yet to write its first risk. It will first focus on UK and Eire construction industry risks, including employers' liability, public and product liability and contractors' all risks.

But Dewsall said it would be looking to "explore other niche areas" of business, adding that its "small" £30m capacity for its first year of trading would allow it to be "flexible" in its growth.

He suggested that the company would look to "acquire expertise".

Gable, which is domiciled in Liechenstein, aims to reach £100m capacity within three years through organic growth and acquisition.

It has 12 agencies with specialist construction brokers but Dewsall said he would look to increase this number.