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Sabre Insurance Group (SBRE) investor relations material
Sabre Insurance Group H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Profit before tax increased by 4.9% year-over-year, with strong momentum and a 19.2% margin within the target range despite challenging market conditions.
Net loss ratio improved to 54.1%, reflecting strong underwriting discipline.
Premiums grew 5% year-over-year to the end of February, signaling a return to growth after a period of margin management.
Ambition 2030 strategy remains on track, with significant progress in expanding direct motorcycle distribution and differentiated pricing tests.
Growth returned in the last quarter of 2025 and is expected to continue into 2026.
Financial highlights
Net insurance margin reached 19.2%, within the 18%-22% target range and up 1.6 percentage points year-over-year.
Net loss ratio improved by 4.6 percentage points to 54.1%, reflecting strong underwriting.
Expense ratio increased by 1.9 percentage points to 28.2% due to reduced net term premium and cost inflation.
Profit before tax rose 4.9% to £51 million year-over-year; profit after tax reached £37.9 million, up 5.3%.
Total dividend per share increased to 13.5p, with an additional £5 million share buyback proposed.
Outlook and guidance
Premium and profit expected to grow in the current year and into 2026, with margins to remain within the 18%-22% target range.
Continued focus on disciplined pricing and margin management, leveraging data-driven underwriting.
Ambition 2030 targets at least £80 million profit by 2030, with ongoing expansion in both car and motorcycle segments.
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