30th Jul 2024 13:00
Sabre Insurance Group PLC - Dorking, Surrey-based motor insurance underwriter - Lifts interim dividend to 1.7 pence per share from 0.9p, as pretax profit jumps to GBP20.2 million in the first half of 2024 from just GBP4.8 million a year before. Gross written premium rises by 26% to GBP125.7 million from GBP99.5 million, and Sabre's combined operating ratio improves to 83.6% from 93.8%. Any ratio below 100% indicates profitable insurance underwriting, and the lower the better.
Looking ahead, Sabre confirms its 2024 guidance, which is for growth in its core Motor Vehicle account, with growth in gross written premium above claims inflation. "We have been able to deploy price increases which reflect our view of claims inflation, and we look forward to a strong performance in the second half of the year as the premium we have written to date earns-through," Chief Executive Officer Geoff Carter explains.
Current stock price: 159.00p, down 1.2% in London midday Tuesday
12-month change: up 15%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Related Shares:
Sabre Insur