Gable Holdings, which insures medium-sized construction companies, quoted £40 million premium on 'high calibre' risks since January.

Cayman Islands-based Gable, where Andrew Regan's Corvus Capital has 12.56 per cent, transformed itself from a virtual shell into an insurance business in December when it bought Liechtenstein-based Brown Duke, for shares. At the same time, Gable, headed by chief executive Bill Dewsall, raised £4.4 million in a 12.5p placing, to enable the company to expand within insurance industry solvency requirements and provide working capital.

The company did no trading before that deal and so lost £576,000, after receiving interest of £24,000 on its funds. Dewsall, who earlier set himself the target of writing £30 million premiums this year, says the company has already quoted on £40 million so far, with as yet a zero loss ratio.

At 17p, Gable shares value the company at £18.9 million. They could still reward a flutter.

Gable Holdings	AIM	£5.33m	4.75p	0.00p
Click here for interactive charting
Other company articles:
Gable gung ho for quality			11/07/2006
New business strong at Gable			27/06/2006
Gable targets £30m			16/01/2006
Regan builds his empire			27/09/2005
Corvus eyes insurance sector			07/09/2005