Sabre year-to-date trading in line with expectations

Car insurance underwriter Sabre said trading for the first four months of the year was "very much in line" with expectations.

Gross written premiums fell 7.31% to £64.7m as Sabre countered claims inflation with higher prices to preserve margins as it prioritised underwriting profitability over volume.

Chief executive Geoff Carter said: "We are very comfortable with our premium position at this point in the cycle and believe our strategy positions us well for growth when the market turns.

"The outlook for our full year gross written premium position continues to be in a range depending on the timing of this market turn, but at this stage feels likely to be slightly down year on year."

As of 0845 BST, Sabre shares had dipped 0.57% to 263p.