Trading Statement
Sabre expects strong 2023 results with 31% GWP growth and profit towards upper end of market expectations.
vs expectations: towards or slightly above upper end
- Gross Written Premium c.£225m
- GWP growth 31%
- Core Motor Vehicle premium growth circa 47%
- Pre-dividend solvency capital ratio around 205%
Select text to share a quote on X · sign in to keep highlights & notes in your SBRE notes
Sabre Insurance Group Plc ("Sabre" or the "Group"), one of the UK's leading motor insurance underwriters, today provides an update on trading for the year ended 31 December 2023. Since 2022 Sabre has taken rapid and decisive pricing actions to mitigate the on-going elevated claims inflation. Consequently, it now expects to deliver a strong result for 2023 as it continues to re-build toward its historical level of profitability. The results are anticipated to meet or exceed current market expectations across almost all key measures, specifically: - Gross Written Premium at c.£225m, representing 31% growth. Within this, core Motor Vehicle premium growth of circa 47% - Profit to be towards or slightly above the upper end of current market expectations - Strong capital generation leaving pre-dividend solvency capital ratio around 205% Sabre is scheduled to present its audited full year results for 2023 on 19 March 2024.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.