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Sabre Insurance Group plc
(LSE:SBRE)
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Rating:77Outperform
Price Target:
208.00 p
▲(21.07% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by solid financial performance (strong recovery and very low leverage) and supportive technical momentum (price above key moving averages with positive MACD). Earnings-call commentary reinforces the outlook with reiterated guidance and expected margin recovery, while valuation is helped by a high dividend yield but moderated by a mid-range P/E.
Positive Factors
Conservative balance sheet
Very low leverage and stable equity provide durable financial flexibility. With essentially no debt and growing assets, Sabre can absorb reserve volatility, fund buybacks/dividends, and invest in Ambition 2030 initiatives without levering the business, reducing solvency and interest-rate risk over time.
Negative Factors
Margin volatility
Marked swings in net insurance margin indicate underwriting and timing sensitivity. Persistent margin volatility undermines predictability of profits and dividends, complicates long-term planning and capital allocation, and leaves outcomes heavily dependent on claims experience and premium earning patterns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and stable equity provide durable financial flexibility. With essentially no debt and growing assets, Sabre can absorb reserve volatility, fund buybacks/dividends, and invest in Ambition 2030 initiatives without levering the business, reducing solvency and interest-rate risk over time.
Read all positive factors
Sabre Insurance Group plc (SBRE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£415.27M
Dividend Yield8.19%
Average Volume (3M)495.59K
Price to Earnings (P/E)11.4
Beta (1Y)0.45
Revenue Growth-10.22%
EPS Growth-5.62%
CountryUK
Employees167
SectorFinancial
Sector Strength70
IndustryInsurance - Brokers
Share Statistics
EPS (TTM)0.15
Shares Outstanding243,730,000
10 Day Avg. Volume309,582
30 Day Avg. Volume495,591
Financial Highlights & Ratios
PEG Ratio1.21
Price to Book (P/B)1.25
Price to Sales (P/S)1.40
P/FCF Ratio7.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£191.60Price Target Upside11.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.16
Revenue Forecast (FY)£232.35M
Sabre Insurance Group plc Business Overview & Revenue Model
Company Description
Sabre Insurance Group plc, through its subsidiaries, specializes in underwriting motor vehicle and motorcycle insurance policies throughout the United Kingdom. The company offers its coverage via two main channels: a network of independent insuran...
How the Company Makes Money
Sabre Insurance Group makes money mainly by underwriting motor insurance risk. Its primary revenue stream is gross written premiums collected from policyholders (typically via brokers and other intermediaries). These premiums are recognized as ins...
Sabre Insurance Group plc Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 16, 2027
Earnings Call Sentiment Positive
The call conveyed strong operational momentum: robust gross written premium growth (+15.7% YoY), healthy policy count expansion (+16.5% YoY), product-level progress (motor profitability and +50%+ motorcycle premium), a strong solvency position (161.4%) and an increased interim dividend (+20%). The main near-term weaknesses were an H1 net insurance margin compression to 15.7% driven by a higher expense ratio (29.9%) and elevated current-year loss ratio (66.5%) due to timing, seasonality and some large claims. Management provided clear remediation plans (earn-through of premium reducing expense ratio, expectation margin will return to 18%–22% by year-end), reiterated underwriting discipline and confirmed coverage of forward-looking claims inflation. On balance, highlights outweigh the lowlights.Positive Updates
Top-line Growth
Gross written premium increased 15.7% year-on-year to GBP 116.0m, with motor vehicle policy count up 16.5% YoY, indicating strong volume growth while maintaining underwriting discipline.
Negative Updates
Compression in Half‑Year Margin
Net insurance margin fell from 19.2% in 2025 to 15.7% in H1 2026, principally driven by an elevated expense ratio of 29.9% (up due to lower earned premium from 2025 volumes and continued investment in people/technology).
Read all updates
Q2-2026 Updates
Positive
Negative
Top-line Growth
Gross written premium increased 15.7% year-on-year to GBP 116.0m, with motor vehicle policy count up 16.5% YoY, indicating strong volume growth while maintaining underwriting discipline.
Read all positive updates
Company Guidance
The company reiterated full‑year guidance that profit will be slightly higher than 2025 and that the net insurance margin, currently 15.7% in H1 (down from 19.2% in 2025), is expected to snap back into the target 18–22% range by year‑end as higher 2026 premiums (gross written premium +15.7% YoY to £116m; policy count +16.5% YoY) earn through and the expense ratio (29.9% in H1) improves; H1 profit before tax was £23.9m, net loss ratio 55.7% (current year 66.5%, prior year release 10.8%), Motor loss ratio 52%, Taxi 48.2%, Motorcycle premium +50% YoY (small portfolio volatility), solvency coverage stands at 161.4% after a £5m buyback and an interim dividend up 20% to 4.1p (from 3.4p), reinsurance XOL retention is just over £1m, and management continues to price to fully cover forward‑looking claims inflation (mid‑single digits, ~6–7%) while targeting ordinary dividend payout of ~70–80% PAT and Ambition 2030 profit ambition of ~£80m by 2030.Sabre Insurance Group plc Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 223.98M | 230.35M | 223.18M | 193.25M | 184.95M | 159.43M |
| Gross Profit | 155.39M | 230.35M | 223.18M | 156.93M | 144.23M | 147.78M |
| EBITDA | 49.62M | 51.14M | 48.75M | 23.75M | 14.32M | 37.60M |
| Net Income | 36.93M | 37.91M | 35.96M | 18.07M | 11.08M | 30.14M |
Balance Sheet | ||||||
| Total Assets | 728.47M | 730.26M | 665.81M | 630.14M | 459.66M | 479.35M |
| Cash, Cash Equivalents and Short-Term Investments | 47.40M | 25.48M | 342.50M | 35.08M | 18.50M | 30.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 193.00K |
| Total Liabilities | 482.92M | 472.40M | 407.46M | 387.73M | 237.16M | 226.62M |
| Stockholders Equity | 245.54M | 257.86M | 258.35M | 242.41M | 222.50M | 252.73M |
Cash Flow | ||||||
| Free Cash Flow | 50.13M | 43.57M | 22.07M | 23.68M | 19.36M | 33.28M |
| Operating Cash Flow | 50.39M | 43.83M | 22.07M | 25.34M | 19.40M | 33.31M |
| Investing Cash Flow | 2.42M | -7.20M | 0.00 | -1.67M | -38.00K | -28.00K |
| Financing Cash Flow | -41.04M | -42.47M | -25.83M | -7.10M | -31.47M | -40.58M |
Sabre Insurance Group plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £415.27M | 11.35 | 14.67% | 8.19% | -10.22% | -5.62% | |
75 Outperform | £1.54B | 6.65 | 21.73% | 17.63% | -1.60% | 36.00% | |
70 Outperform | £156.03M | 7.79 | 11.72% | 3.08% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | £830.52M | 153.42 | 0.25% | 6.45% | 192.47% | ― | |
55 Neutral | £904.63M | 61.18 | -15.72% | 5.24% | 12.19% | ― |
* Financial Sector Average
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Sabre Insurance Group plc Corporate Events
Stock BuybackRegulatory Filings and Compliance
Sabre Insurance Cuts Share Count as Buy-Back Programme Progresses
Positive
Aug 4, 2026
Sabre Insurance Group plc has continued executing its previously announced share buy-back programme, repurchasing and cancelling a series of ordinary shares between 28 July and 3 August 2026 through Panmure Liberum Limited. Following these transac...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Sabre Insurance Delivers H1 Premium Surge as Ambition 2030 Gains Traction
Positive
Aug 4, 2026
Sabre Insurance Group reported a strong first half of 2026, with gross written premiums rising more than 15% year-on-year and motor vehicle premiums up over 18%. Despite a lower interim net insurance margin of 15.7% and an elevated expense ratio t...
Regulatory Filings and Compliance
Sabre Insurance Confirms 244.3 Million Voting Shares in Issue
Neutral
Jul 31, 2026
Sabre Insurance Group plc has confirmed that as of 31 July 2026 its issued and fully paid share capital comprises 244,328,108 ordinary shares, each carrying one voting right. The company also stated it holds no ordinary shares in treasury, meaning...
Stock BuybackRegulatory Filings and Compliance
Sabre cancels 150,000 shares in latest buyback tranche
Positive
Jul 28, 2026
Sabre Insurance Group plc has repurchased and cancelled 150,000 ordinary shares as part of its previously announced share buyback programme, executed through Panmure Liberum at prices around 186.3p to 186.7p per share. Following these transactions...
Stock BuybackRegulatory Filings and Compliance
Sabre Insurance trims share count with latest buy-back cancellations
Positive
Jul 21, 2026
Sabre Insurance Group plc has continued its previously announced share buy-back programme, repurchasing a total of 227,270 ordinary shares between 14 and 20 July 2026 via broker Panmure Liberum. The transactions, executed at prices around 182.60p ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Sabre Insurance Cuts Share Count with Ongoing Buy-Back
Positive
Jul 14, 2026
Sabre Insurance Group has cancelled a further tranche of its ordinary shares as part of its ongoing share buy-back programme authorised by shareholders in May 2026. Over the period from 7 to 13 July, the company repurchased and cancelled several h...
Business Operations and StrategyExecutive/Board Changes
Sabre Insurance Executives Add Shares via HMRC-Approved Incentive Plan
Positive
Jul 13, 2026
Sabre Insurance Group plc has disclosed that its chief executive officer Geoff Carter, claims director Trevor Webb and chief actuary Matt Wright have each increased their holdings in the company through its HMRC-approved Share Incentive Plan. On 1...
Business Operations and StrategyRegulatory Filings and Compliance
Sabre Insurance Executives Increase Shareholdings Through SAYE Option Exercises
Positive
Jul 10, 2026
Sabre Insurance Group plc has announced that three senior executives, including Chief Executive Officer Geoff Carter, exercised options under the company’s HMRC-approved Save As You Earn plan on 10 July 2026. Each exercised 21,151 options at...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Sabre Insurance Cuts Share Count With Ongoing Buy-Back
Positive
Jul 7, 2026
Sabre Insurance Group plc has continued its previously announced share buy-back programme, repurchasing and cancelling a total of 374,843 ordinary shares between 30 June and 6 July 2026 through Panmure Liberum. The purchases were executed at price...
Business Operations and StrategyRegulatory Filings and Compliance
Sabre executives boost stakes after exercising Save As You Earn options
Positive
Jul 1, 2026
Sabre Insurance Group plc has disclosed that Claims Director Trevor Webb and Chief Actuary Matthew Wright have exercised options over 21,151 shares each under the company’s HMRC-approved Save As You Earn Plan at an option price of £0.85...
Regulatory Filings and Compliance
Sabre Insurance Confirms Total Voting Rights at 245.5 Million Shares
Neutral
Jun 30, 2026
Sabre Insurance Group plc has confirmed that as of 30 June 2026 its issued and fully paid share capital comprises 245,548,866 ordinary shares, each carrying one voting right. The company stated that it holds no ordinary shares in treasury, meaning...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Sabre trims share count as June buy-back reduces voting capital
Positive
Jun 30, 2026
Sabre Insurance Group plc has continued its previously announced share buy-back programme, purchasing and cancelling a total of 115,292 ordinary shares between 23 and 29 June 2026 at prices ranging from 163p to 173.40p. Following these transaction...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Sabre Insurance Cuts Share Count with Ongoing Buyback
Positive
Jun 23, 2026
Sabre Insurance Group plc has continued executing its previously announced share buyback programme, purchasing and cancelling a series of ordinary shares between 16 and 22 June 2026 at prices broadly in the mid-160p range. The transactions, conduc...
Stock BuybackRegulatory Filings and Compliance
Sabre Insurance Cuts Share Count as Buyback Trims Voting Capital
Positive
Jun 16, 2026
Sabre Insurance Group has continued executing its previously announced share buyback programme, repurchasing and cancelling a series of ordinary shares between 9 and 15 June 2026 at prices ranging roughly from 157.6p to 165p. The transactions, car...
Business Operations and StrategyRegulatory Filings and Compliance
Sabre Executives Increase Holdings Through Share Incentive Plan
Positive
Jun 11, 2026
Sabre Insurance Group has disclosed that three senior executives, including chief executive Geoff Carter, increased their holdings in the company through its HMRC-approved Share Incentive Plan. Carter, claims director Trevor Webb and chief actuary...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Sabre Insurance Cuts Share Count with Latest Buyback
Positive
Jun 9, 2026
Sabre Insurance Group plc has repurchased and cancelled 245,561 of its ordinary shares between 2 and 4 June 2026 under an existing share buyback authority, at prices ranging from 149.20p to 153.40p. The transactions, executed via Panmure Liberum, ...
DividendsRegulatory Filings and Compliance
Sabre executives add shares via dividend reinvestment plan
Neutral
Jun 8, 2026
Sabre Insurance Group plc has reported routine share transactions by several senior executives under its Share Incentive Plan. The company’s CEO, chief risk officer, claims director, CFO and chief actuary all acquired small numbers of ordina...
Business Operations and StrategyStock BuybackFinancial Disclosures
Sabre Insurance Launches £5m Share Buyback to Return Surplus Capital
Positive
Jun 2, 2026
Sabre Insurance Group plc has launched an on-market share buyback programme of up to £5m after receiving regulatory approval, following its earlier indication in March 2026. The board said the move reflects the company’s strong performa...
Executive/Board Changes
Sabre Insurance Chair Rebecca Shelley Takes Additional Role at B.P. Marsh
Positive
May 27, 2026
Sabre Insurance Group has announced that its Chair, Rebecca Shelley, has been appointed Non-executive Chair of B.P. Marsh and Partners, effective 26 May 2026. The additional chairmanship broadens Shelley’s governance responsibilities and may...
Stock BuybackDividendsFinancial DisclosuresShareholder Meetings
Sabre Insurance Wins Full Shareholder Backing at 2026 AGM
Positive
May 21, 2026
Sabre Insurance Group plc reported that all 20 resolutions at its 2026 Annual General Meeting were approved by shareholders via poll, including the adoption of the 2025 financial statements, the directors’ remuneration report, and the reappo...
Business Operations and StrategyFinancial Disclosures
Sabre Insurance lifts premiums and reaffirms 2026 profit guidance
Positive
May 21, 2026
Sabre Insurance Group reported a strong start to 2026, with total gross written premiums rising over 15% to £76.3m in the first four months, driven by an 18% increase in motor vehicle premiums and a near 48% surge in motorcycle premiums, part...
Business Operations and StrategyRegulatory Filings and Compliance
Sabre Insurance Executives Increase Holdings via Share Incentive Plan
Positive
May 12, 2026
Sabre Insurance Group plc disclosed that Chief Executive Officer Geoff Carter, Claims Director Trevor Webb and Chief Actuary Matt Wright have each increased their holdings in the company through its HMRC-approved Share Incentive Plan. On 11 May 20...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.