Sabre profits jump to £43.4m in 2013
Motor insurer positive that Competition Commission review and Laspo will not have negative impact.
Sabre Insurance has reported gross written premium of £140m for the year ended 2013, down from £151m in 2012.
However, profit after tax for the year jumped up to £43.4m, from £29.7m in 2012.
In its results filed at Companies House the motor insurer attributed its “significantly higher” profit to “a superior underwriting result which resulted from higher than expected prior year reserve releases coupled with reduced loss frequency in the current underwriting year”.
Keith Morris, chairman at Sabre
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