Gable Hldgs Share Discussion Threads

[dexfontana] 09/6/2016 16:00

I am a Business Insurance Broker. Yes clients and other brokers are still using Gable and placing business with them. I understand disclosures are being used in terms of the "unrated" nature of the insurer however this has always been the case, are they telling clients Gable are likely to go bust, in the main id say no. My Business do not deal with off shore unrated insurers. I lost a client yesterday who opted to save £10,000 with Gable and run the risk of the insurer going under even though I warned him apparently assurances were given by his new broker. So in summary they are still trading actively, winning new clients and renewing business. This situation does remind me of another Lichenstine based insurer who did go bust known as ERIC or European Risks Insurance Company hxxp://erichf.com/ . I have had a little punt as at 4p a share a little good news, investment, partnership or anything positive from Gable should mean I can double up at least and if the end is hits I am not in a big hole. I feel your pain The Stinger I hope you made up the loses with other investments! One thing to remember is Gable market share of premium is reported to be £50,000,000 if they can get past this point and have luck with claims their cost base is low (other than big director payouts)and making profits again wont be a problem. The biggest problem will be Solvency II which needs more than a profitable claims book moving forward.

[the stinger] 09/6/2016 15:41

Max, lost a lot here.. had 200k shares at an ave of 32p!!, out now. Good luck, if they manage to sort then i may regret..however wanted something back just in case not.

[maxmarilli] 09/6/2016 15:32

stinger,you put the order trough around 11am?

[garbetklb] 09/6/2016 15:31

Hi Dex
Out of pure curiosity, what's your role in the insurance industry?
What has the broker reaction been to Gable's difficulties? Are brokers still using them? If so, are they getting the client to sign a letter confirming that they hare happy to have their business placed with Gable?

[the stinger] 09/6/2016 15:17

Max,, How did you guess...from earlier today though....

[maxmarilli] 09/6/2016 15:16

was it your 150k sell?

[the stinger] 09/6/2016 15:10

I'm out now however must admit, any type of recovery or partnerships etc would make this a totally different play and possibly a sizeable re-rate from these levels,,, however looking too grim at the moment..

[dexfontana] 09/6/2016 14:58

I am new to all this game but I do work in the Insurance Industry. Gable or Gamble as they are known with Lloyds of London Brokers have been buying business in for years low rates and in industries which most insurers don't dabble like Night Clubs. They have been hit with big claims losses which is the risk for all small insurers. They are still actively writing premiums in the market and I would speculate they are in a race to get money in to keep the business viable. Solvency II is an issue on the horizon which they have to deal with. I personally do not think the camels back is broken yet but Solvency II will be the straw. I have bought in a little as I feel Gable has another year of trade left in it at least and with luck again with claims could recover to Profit again, making it look more like the business that had share prices up around 80p.

[effortless cool] 09/6/2016 14:45

Because I have missed that boat. Those smarter than me were opening their shorts at 80p, not at 4p. IG do still make a market, but I would have to bet about £5k per penny to make it worthwhile, with massive downside potential if I am wrong.

[maxmarilli] 09/6/2016 14:38

So why don`t you short it?

[effortless cool] 09/6/2016 14:36

My answer is no, I suspect it is worth £0.0m.

[maxmarilli] 09/6/2016 14:35

My question is:is this company only worth £5.5 millions?

[saucepan] 09/6/2016 13:50

It is worth putting "Gable" in the search box of "Insurance Times". There are more-recent and, in my view, rather more "telling" headlines.

[maxmarilli] 09/6/2016 13:43

hxxp://www.insurancetimes.co.uk/unrated-gable-battles-to-build-broker-trust/1417965.article we could be very near bottom.....not only bad news and if business will increase in results could be sharply up,imo.....

[maxmarilli] 09/6/2016 13:03

another 35k added...

[maxmarilli] 09/6/2016 12:28

100k buy...someone think the same as me...

[battlebus2] 09/6/2016 12:24

Glad i've left the party........

[garbetklb] 09/6/2016 12:21

Why do you expect this rebound?

[maxmarilli] 09/6/2016 12:12

just added 25k....soon we will have a clarification on the matters...I expect a rebound to 7p to start....

[escapetohome] 09/6/2016 11:48

Brave and good luck!

[luckymouse] 09/6/2016 11:25

a well known shorter observed that some hedge funds buy a chunk of failing co's just as they tend to zero - presumably an option style play as some will evaporate and the odd one will recover with 1000% gain. So any purchase, may have to be considered in that light perhaps.

[maxmarilli] 09/6/2016 11:03

I`m considering it...to buy in...

[escapetohome] 09/6/2016 11:02

Down again not looking promising.

Anyone considering this?

[escapetohome] 08/6/2016 16:00

Tiny little move down again today!

[the stinger] 07/6/2016 16:11

Garbet, who will manage the current £70m reserves...or will someone try something dirty there to?.. Thats still a hell of a sum in an account somewhere,,if its all there that is!!..and the £10m you mention...commission etc...well, that will have been all of Gables income paid to Hogarth the last few years i suppose..