Sabre Insurance Group (SBRE) Q3 2026 TU earnings summary

Executive summary

• Nine-month premium growth was 14.3% YoY; full-year 2026 PBT guidance reiterated at slightly above 2025, with pricing discipline maintained.

• Ambition 2030 remains on track, targeting PBT of at least £80m in 2030.

Financial highlights

• Nine months to 30 September 2026 gross written premium was £173.4m, up 14.3% YoY; 2025 full-year premium was £202.9m.

• On the revised segment basis, Motor Vehicle premium was £160.1m, up 12.0% YoY; Motorcycle premium was £13.3m, up 52.9%.

Outlook and guidance

• 2026 PBT is expected to be slightly higher than 2025; full-year premium growth is expected, with growth likely to moderate in Q4 as pricing discipline is maintained.

• Undiscounted net insurance margins for 2026 are expected within the 18%–22% target range; margin improvement is expected in H2 as H1 premium earns through.

• Premium volumes and earnings are expected to grow into the medium term, with timing influenced by market conditions.