Sabre Insurance Group

SBRE · Main Market · Insurance · mcap £422m · 175.2p

Sabre Insurance Group sells motor insurance, mainly car cover for drivers other mainstream insurers find harder to price, plus motorcycle and taxi cover. It makes money from underwriting profit and investment income, and returns surplus capital to shareholders.

Target	Promise	Said	Status
2024
2024	Further improvement in combined operating ratio and a significant increase in profit in 2024.	19 Oct 2023	✓ Kept
	“Loss ratios should improve further as profitable business written in 2023 earns through, leading to an increase in profit in 2024” Also stated 19 Mar 2024 Result 2024 profit before tax doubled to £48.6m and the net insurance margin rose to 17.6%. “Profit before tax more than doubled year-on-year - up 105.9% year-on-year”18 Mar 2025 · Final Results “Net insurance margin \| 17.6% \| 10.6% \| 7.0 ppts”18 Mar 2025 · Final Results
2024	Premium growth above claims inflation across 2024.	23 May 2024	✓ Kept
	“Anticipate further growth in the core Motor Vehicle account with overall growth in GWP above claims inflation across 2024” Also stated 30 Jul 2024 Result 2024 premium rose 5% to £236.4m, above the mid-single-digit claims inflation level. “Gross written premium - up 5% against 2023”18 Mar 2025 · Final Results “We deployed rate increases in line with our view of ongoing high single digit claims inflation”18 Mar 2025 · Final Results
31 Dec 2024	Deliver record gross written premium in 2024.	22 Oct 2024	✓ Kept
	“We continue to anticipate our highest ever gross written premium in 2024” Also stated 5 Dec 2024 Result 2024 premium was £236.4m, up from £225.1m, a record. “We continue to anticipate our highest ever gross written premium in 2024”5 Dec 2024 · Capital Markets Event “Highest ever annual gross written premium - up 5% year-on-year”18 Mar 2025 · Final Results
2025
31 Mar 2025	Launch a new online-only direct Motorcycle brand in Q1 2025.	30 Jul 2024	✓ Kept
	“launch of a new, online-only direct Motorcycle brand in Q1 2025” Also stated 5 Dec 2024 Result The March 2025 results said the Sabre Direct soft launch was due in March 2025; motorcycle premium rose in 2026. “Sabre Direct, our in-house Motorcycle brand, is being soft launched in March, and core Motor Vehicle pricing tests are planned for H2 2025, in-line with the timeline set out at our recent Capital Markets Event.”18 Mar 2025 · Final Results “Motorcycle premium up c.48% year-on-year reflecting the continued roll-out of our "Sabre Direct" product”21 May 2026 · Trading Update
Today · 11 Oct 2026
2026
31 Dec 2026	Return £5m to shareholders via on-market buyback by 31 December 2026.	2 Jun 2026	✓ Kept
	“The Buyback Programme will commence immediately and it is anticipated it will end no later than 31 December 2026” Result Completed 5 August 2026: 2.87m shares bought for £5.0m. 5 Aug 2026 · Completion of Buyback Programme