By Najat Kantouar
Sabre Insurance Group shares jumped after the company reported a higher pretax profit for last year, and said that it plans to launch its first share-buyback program of 5 million pounds ($6.5 million) over 2025.
In early European morning trading, shares were up 11 pence, or 8.9%, at 135 pence. Year to date, shares have fallen 2.2%.
The London-listed motor-insurance provider said Tuesday that pretax profit rose to 48.6 million pounds compared with 23.6 million pounds a year earlier. This reflects a strong performance in key segments, it said.
The company's combined operating ratio--the proportion of revenue taken up by losses and expenses--was 84.2% compared with 91.6% the previous year. A ratio below 100% indicates profitable underwriting.
Gross written premiums rose to 236.4 million pounds from 225.1 million pounds, its highest ever annual performance, up 5% against 2023.
The board declared a total dividend of 13 pence a share, up from 9 pence a share for the previous year.
Sabre Insurance said it expects a strong underwriting performance and profitability in 2025. It also anticipates margins to be within its target range of between 18% and 22%.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
March 18, 2025 04:38 ET (08:38 GMT)
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