Director dealings: Sabre's new chairman makes share purchase

Sabre Insurance Group revealed on Thursday that incoming chairman Andy Pomfret had acquired 37,800 ordinary shares in the FTSE 250-listed motor insurer.

Pomfret, who will take over as chairman on 1 September, purchased the shares at an average price of 261.75p each, for a total value of £98,941.50.

Back in July, Sabre reported gross written premiums of £86.9m in its first half, falling from £101.2m year-on-year, while its net loss ratio fell to 45.1% to 48.2%.

Adjusted profit before tax slipped to £27.8m from £30.5m, while the board said it would pay an ordinary interim dividend per share of 4.3p, down from the 4.7p per share distribution a year ago.

As of 1630 BST, Sabre shares were down 0.57% at 260.0p

Top Director Buys

Sabre Insurance Group (SBRE)
Director name: Pomfret,Andrew D
Amount purchased: 37,800 @ 261.75p
Value: £98,941.50

Serco Group (SRP)
Director name: Owen,Dame Sue
Amount purchased: 10,000 @ 139.42p
Value: £13,942.00

Cloudcoco Group (CLCO)
Director name: Duckworth,Simon D'Olier
Amount purchased: 250,000 @ 1.15p
Value: £2,875.00

Top Director Sells