16th Oct 2025 09:48
(Alliance News) - Sabre Insurance Group PLC on Thursday said it is confident in delivering on its targets despite claims inflation, as it announced a lower gross written premium than a year ago.
The Dorking, Surrey-based motor insurance underwriter said the total number of gross written premium was GBP151.7 million in the nine months to September 30, down 19% from GBP186.5 million a year prior.
Looking ahead, Sabre Insurance expects 2025 profit to be in line with 2024, citing its pricing discipline and margin management strategy. Net insurance margin is anticipated to be within the firm's target range.
The company noted a fall in market pricing appeared to be stabilising. "We continue to expect market pricing to increase in late 2025 or early 2026 to avoid significantly undermining 2026/2027 market-level profitability," Sabre Insurance said.
Chief Executive Officer Geoff Carter said: "Whilst it is slightly frustrating that the market has underpriced against on-going claims inflation, we had anticipated this, and it is factored into our business model. It is reassuring that we continue to write healthy levels of premium at our target margins during this part of the market cycle.
"In recent weeks we have seen some positive momentum in our weekly premium levels and modest growth returning in our core motor book. At this stage this is driven by our own pricing initiatives rather than the anticipated market turn."
He added: "Our Ambition 2030 initiatives continue to develop at pace, and we remain confident on delivering on our targets. Combined with our long-term and stress-tested strategy, this means we can continue to deliver good performance at all points of the market cycle - growing and contracting as appropriate in the short-term, whilst delivering meaningful profit growth in the longer term."
Sabre Insurance shares rose 4.5% to 135.80 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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