Sabre warns of surging claims costs as motor GWP and profit drops
Gross written premium in Sabre’s motor book has dropped around 10.6% compared to the same period in 2021, the insurer has revealed in its half year results.
Sabre flagged that this was due to pricing ahead of the market in response to higher levels of inflation.
GWP was up year-on-year at £91.8m from £78.2m, but this included £22.1m of motorcycle and taxi business which the provider has expanded into.
Sabre’s combined operating ratio for the period worsened to 98.9% from 74.4% for the six months. This was driven mainly by a deterioration in the net loss ratio which increased from 44.9% to 71.6% across the two periods.
The firm detailed that with
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