REG - Sabre Insurance Grp - Trading Update

Sabre InsuranceAnnouncement

16/10/2025 07:00

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RNS Number : 5665D  Sabre Insurance Group PLC  16 October 2025

 16 October 2025

 Sabre Insurance Group plc

 Trading Update

 Full-year profit guidance reiterated, Ambition 2030 initiatives on-track
 Sabre Insurance Group plc (the "Group" or "Sabre"), one of the UK's leading
 motor insurance underwriters, today provides an update on trading for the
 period from 1 July 2025 to 30 September 2025.

                    Unaudited
                     Nine months ended             Year ended

                     30 September                  31 December
                                        2025      2024      % Change   2024
 Gross written premium - Motor Vehicle  £133.1m   £165.6m   (19.6)%   £209.9m
 Gross written premium - Motorcycle     £8.7m     £8.2m     6.1%      £9.7m
 Gross written premium - Taxi           £9.9m     £12.7m    (22.0)%   £16.8m
 Gross written premium - Total          £151.7m   £186.5m   (18.7)%   £236.4m

Key Highlights

 ‒    Full-year profit guidance reiterated, expected to be in-line with
 2024

 ‒    Pricing discipline maintained and policies continue to be written at
 target margins of 18% - 22%

 ‒    Cautious claims inflation assumptions fully covered, supporting an
 anticipated strong profit in 2025 and 2026 as well as continued target-level
 profitability into the medium-term

 ‒    Gross written premium continues at a healthy level despite broader
 market pricing remaining subdued

 ‒    £5 million share buyback programme completed

 ‒    Continued strong capital generation underpins confidence in the
 ability to make an attractive capital distribution at year-end

 ‒    Good progress towards Ambition 2030, and not impacted by the present
 cyclical market weakness

 Market trends

 ‒    Continued signs of claims inflation moderating, now at a
 mid-single-digit level

 ‒    The fall in market pricing appears to be stabilising having seen
 prices fall consistently through the first half of the year

 ‒   We continue to expect market pricing to increase in late 2025 or early
 2026 to avoid significantly undermining 2026/2027 market-level profitability

 Outlook

 ‒    In-line with previous guidance, full-year profit is expected to be
 in-line with 2024, as we execute on our pricing discipline and margin
 management strategy, with a net insurance margin within our target range

 ‒    We continue to expect a healthy if slightly reduced premium out-turn
 for the year as we maintain focus on maximising absolute profit by writing
 business at appropriate margins

 ‒    Beyond 2025, we foresee good profitability as we deliver on Ambition
 2030

 ‒    Continued strong capital generation supports the Board's confidence
 in the ability to provide an attractive capital distribution at year-end

 Geoff Carter, Chief Executive Officer of Sabre, commented:

 "I continue to be pleased with our performance at the Q3 stage of 2025. Our
 long-term focus on margins over volume means we are confident of delivering a
 strong full-year result with profits in-line with 2024 with a very robust
 capital position, despite market-wide motor premium pricing weakness for large
 parts of 2025.

 Because Sabre has focussed on maintaining pricing discipline through 2025, we
 are also confident of maintaining strong margins and delivering good
 profitability into 2026 and beyond.

 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.

 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."

Investor enquiries              01306 747 272
 Sabre Insurance Group plc

 Geoff Carter / Adam Westwood

 Media enquiries                 020 7353 4200
 Teneo                           sabre@teneo.com
 James Macey White / Ffion Dash

 

 LEI Code: 2138006RXRQ8P8VKGV98

Key Highlights

‒    Full-year profit guidance reiterated, expected to be in-line with
2024

‒    Pricing discipline maintained and policies continue to be written at
target margins of 18% - 22%

‒    Cautious claims inflation assumptions fully covered, supporting an
anticipated strong profit in 2025 and 2026 as well as continued target-level
profitability into the medium-term

‒    Gross written premium continues at a healthy level despite broader
market pricing remaining subdued

‒    £5 million share buyback programme completed

‒    Continued strong capital generation underpins confidence in the
ability to make an attractive capital distribution at year-end

‒    Good progress towards Ambition 2030, and not impacted by the present
cyclical market weakness

 

Market trends

‒    Continued signs of claims inflation moderating, now at a
mid-single-digit level

‒    The fall in market pricing appears to be stabilising having seen
prices fall consistently through the first half of the year

‒   We continue to expect market pricing to increase in late 2025 or early
2026 to avoid significantly undermining 2026/2027 market-level profitability

 

Outlook

‒    In-line with previous guidance, full-year profit is expected to be
in-line with 2024, as we execute on our pricing discipline and margin
management strategy, with a net insurance margin within our target range

‒    We continue to expect a healthy if slightly reduced premium out-turn
for the year as we maintain focus on maximising absolute profit by writing
business at appropriate margins

‒    Beyond 2025, we foresee good profitability as we deliver on Ambition
2030

‒    Continued strong capital generation supports the Board's confidence
in the ability to provide an attractive capital distribution at year-end

 

Geoff Carter, Chief Executive Officer of Sabre, commented:

"I continue to be pleased with our performance at the Q3 stage of 2025. Our
long-term focus on margins over volume means we are confident of delivering a
strong full-year result with profits in-line with 2024 with a very robust
capital position, despite market-wide motor premium pricing weakness for large
parts of 2025.

Because Sabre has focussed on maintaining pricing discipline through 2025, we
are also confident of maintaining strong margins and delivering good
profitability into 2026 and beyond.

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.

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."

 

 

 Investor enquiries              01306 747 272
 Sabre Insurance Group plc

 Geoff Carter / Adam Westwood

 Media enquiries                 020 7353 4200
 Teneo                           sabre@teneo.com
 James Macey White / Ffion Dash

 

LEI Code: 2138006RXRQ8P8VKGV98

 

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