Sabre Insurance ends year in line after pricing action
Sabre Insurance Group
137.40p
08:34 05/11/24
Motor insurance underwriter Sabre Insurance Group said in a trading update on Thursday that it was set to meet or exceed current market expectations for 2023, having taken swift pricing actions since 2022 to counteract persistent claims inflation.
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The London-listed firm said gross written premium was anticipated to have risen 32% to £225m, with core motor vehicle premium growth of around 47%.
It also said it expected profit to land towards or slightly surpass the upper end of current market forecasts.
The company highlighted strong capital generation, with a pre-dividend solvency capital ratio expected to hover around 205%.
Sabre said it would announce its audited full-year results for 2023 on 19 March.
At 0911 GMT, shares in Sabre Insurance Group were up 1.64% at 154.5p.
Reporting by Josh White for Sharecast.com.