Sabre Insurance Group PLC Trading Statement
15 February 2024 - 6:00PM
RNS Regulatory News
RNS Number : 1880D
Sabre Insurance Group PLC
15 February 2024
Sabre Insurance Group
plc
Trading
Update
|
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.
|
Investor
enquiries
|
01306 747 272
|
Sabre
Insurance Group plc
|
investor.relations@sabre.co.uk
|
Geoff Carter / Adam Westwood
|
|
|
|
Media
enquiries
|
020 7353 4200
|
Teneo
|
sabre@teneo.com
|
James Macey White
|
|
This announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU)
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in
accordance with the Group's obligations under Article 17 of
MAR.
|
FORWARD-LOOKING STATEMENTS DISCLAIMER
Cautionary statement
This announcement may include statements that
are, or may be deemed to be, "forward-looking statements". These
forward-looking statements may be identified by the use of
forward-looking terminology, including the terms "believes",
"estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will" or "should" or, in each case, their
negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters
that are not historical facts and involve predictions.
Forward-looking statements may and often do differ materially from
actual results. Any forward-looking statements reflect Sabre's
current view with respect to future events and are subject to risks
relating to future events and other risks, uncertainties and
assumptions relating to Sabre's business, results of operations,
financial position, prospects, growth or strategies and the
industry in which it operates.
Forward-looking statements speak only as of the
date they are made and cannot be relied upon as a guide to future
performance. Save as required by law or regulation, Sabre disclaims
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements in this announcement
that may occur due to any change in its expectations or to reflect
events or circumstances after the date of this
announcement.
The Sabre Insurance Group plc LEI number is
2138006RXRQ8P8VKGV98.
|
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END
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