Liechtenstein-based insurer backs MGA

Liechtenstein-based insurer Gable has signed a deal to provide £10m of annual capacity to London market broker HBA.

Gable already has a £14m-a-year capacity deal with Towergate Underwriting.

The new agreement covers commercial combined risks across the European countries where Gable does business, including the UK.

The deal was arranged by Aon Benfield.

Gable chief executive William Dewsall said: “We are delighted that Aon has facilitated to us a programme of £10m gross written premium annually via an independent MGA for commercial combined risks across our European territories, including the UK.

“Once again this shows great support for Gable from a major international insurance provider as we continue to grow our European presence.”

In December 2012 Gable signed a five-year capacity deal with Towergate-owned MGA Towergate Underwriting, under which Gable writes £14m of gross written premium a year.