Insurer Gable to raise £10m

British insurance firm Gable Holdings has conditionally raised £10.7m through a share issue, the first since it listed on Aim in 2005. The non-life insurer wants to use the cash to expand the business and says it was pleased by strong interest in the issue. Gable recorded pre-tax profits of £5.7m in 2012. Barrie Cornes, an analyst at Panmure Gordon, says the deal will allow Gable to “capitalise on the new growth opportunities” and raised his rating on the stock to buy.