Sabre reports 4.9% profit growth despite GWP drop in latest results

Motor insurer Sabre has reported a 4.9% growth in its profit before tax for 2025 despite a fall in its gross written premium (GWP).

The results – released today (10 March 2026) and covering the full year to 31 December 2025 – showed that GWP dropped by 14.2% from £236.4m in 2024 to £202.9m in the latest period.

However, the firm’s pre-tax profit stood at £51m, up from £48.6m in 2024.

The improved profitability was partially driven by a 1.9 percentage point improvement in combined operating ratio (COR), down from 84.2% in 2024 to 82.3% this year.

The firm also announced dividends per share of 13.5p amid an annualised return on tangible equity of 37.2%.

Sabre also revealed plans for a £5m share buyback scheme, pending regulatory approval, which it said was “indicative of the board’s confidence in the group’s robust capital position and ability to continue to generate organic capital”.

Prudent pricing

Geoff Carter, chief executive at Sabre, said: “I am very pleased that Sabre has continued its track record of delivering strong profits throughout the underwriting cycle, including the softer pricing environment seen in 2025.

“Having priced prudently for potential claims inflation throughout the period, we benefited from positive experience as inflation moderated in the latter part of the year. This also allowed us to drive both premium and policy growth in Q4 and into 2026 – in the first two months of 2026, motor vehicle gross written premium is up over 5% year-on-year.”

He continued: “Looking ahead to 2026 and beyond, I see a clear opportunity to grow both profits and premium over the medium-term.

“We expect the group to continue premium growth in 2026 and to deliver a profit slightly ahead of 2025 as the high-margin business written in 2025 earns through. I anticipate we will continue to deliver sustainable profitable growth as we move towards 2030.”