Sabre Insurance Group Plc · LSE:SBRE
Sabre Insurance — H1 2026 Earnings Presentation
23 slides from Sabre Insurance's earnings presentation, Aug 4, 2026
Slide 1: Half-Year Results
Half-Year Results 30 June 2026
Slide 2: Presenting today
Presenting today Geoff Carter Adam Westwood Trevor Webb Matt Wright CEO CFO Claims and Policy Chief Actuary Ops Director 2 Sabre Half-Year 2026 Results
Slide 3: Agenda
Agenda 01 05 2026 HY Highlights Investment Case 02 06 Financial Performance Outlook and Summary 03 07 Market Update Q&A 04 Strategy Update 3 Sabre Half-Year 2026 Results
Slide 4: Highlights
Highlights Strong growth and confidence in full-year guidance
Slide 5: 2026 HY Highlights
2026 HY Highlights 01 02 03 04 Financial result Growth Capital Progress on strategy ‒ Gross written ‒ Business continues ‒ Continued strong ‒ Ongoing premium up over to be written at solvency position enhancement of 15% year-on-year target margins, fully customer ‒ Interim dividend of covering claim
Slide 6: Financial Performance
Financial Performance For the 6 months ended 30 June 2026
Slide 7: Half-year 2026 Financial Performance
Half-year 2026 Financial Performance Half-year Half-year Change Net insurance margin Expense ratio 2026 2025 Gross w ritten premium (1) £116.0m £100.3m 15.7% Net insurance margin (1) 15.7% 19.0% (3.3) ppts Net loss ratio (1) 55.7% 54.9% 0.8 ppts Expense ratio (1) 29.9% 27.7% 2.2 ppts Combined operat
Slide 8: Net insurance margin progression
Net insurance margin progression ‒ Net insurance margin expected to increase to within target range for the full-year as expense ratio recovers and impact of short-term loss ratio volatility reduces ‒ Loss ratio in-line with expectation at 55.7% in H1 2026, with expense ratio having risen to 29.9% ‒
Slide 9: Loss ratio performance
Loss ratio performance Half-year 2026 net loss ratio Full-year 2025 net loss ratio ‒ Current year loss ratio a little ahead of FY ‒ Prior-year favourable movement on reserves, 2025, but within normal levels of volatility reflects explicit margin run-off and includes some positive prior-year developm
Slide 10: Underwriting Performance by Product
Underwriting Performance by Product Gross written Net earned Net loss Policy Net earned premium and claims by product Product Period premium premium ratio count HY 2026 £103m £83m 52.0% 231,539 Motor Vehicle HY 2025 £87m £86m 48.1% 198,662 HY 2026 £9m £5m 120.9% 40,104 Motorcycle HY 2025 £6m £4m 104
Slide 11: Strong Surplus Capital Generation
Strong Surplus Capital Generation HY-2026 Surplus Capital Generation ‒ Continued benefit from strong profitability and an efficient capital model ‒ Interim dividend of 4.1p (2025: 3.4p) in line with policy ‒ £5m share buyback programme nearly complete ‒ Strong capital generation led to a period-end
Slide 12: Market Update
Market Update For the 6 months ended 30 June 2026
Slide 13: Market update
Market update Market Pricing Claims Inflation Regulatory ‒ Evidence that market prices ‒ Claims inflation remains at mid- ‒ Stable regulatory environment, have stabilised single digits with no new market interventions in the period ‒ Initial increases are feeding ‒ Global conflicts currently through
Slide 14: Pricing in the UK motor insurance market
Pricing in the UK motor insurance market Pricing surplus/deficit (by underwriting year) - Market pricing UK motor premiums and claims (% vs 2019) - written basis appears to have stabilised, but needs to 80% increase to avoid 60% 40% industry-wide losses 20% - Sabre’s pricing 0% discipline has ensure
Slide 15: Strategy Update
Strategy Update A high-margin business with strong growth opportunities
Slide 16: Our Ambition 2030 timeline remains on-track with early proof-points emerging
Our Ambition 2030 timeline remains on-track with early proof-points emerging At least £80m profit before tax in 2030 2026 2030 Base IT system enhancement Further evolution of IT capability development Core Motor Initial tests Iterative pricing Pricing development GWP impact Profit impact complete te
Slide 17: Controlled use of AI will be embedded throughout our business and support Ambition 2030
Controlled use of AI will be embedded throughout our business and support Ambition 2030 Rapid coding AI supported Machine Use of AI in Tight focus on and fraud checks & learning select customer and further development of claim valuation integration into interactions e.g investment in system ‒ Allows
Slide 18: Investment Case
Investment Case Sabre’s competitive edge
Slide 19: Sabre's competitive edge underpins Ambition 2030
Sabre’s competitive edge Underpins Ambition 2030 High quality ‒ Focussed, pure motor insurer ‒ Proven record of delivering market-leading margins £80m profit before tax by 2030 underwriting ‒ Achieved through pricing discipline and data advantage Sabre Direct and broker Motorcycle expansion Proven c
Slide 20: Outlook and Summary
Outlook and Summary
Slide 21: Strong growth and confidence in full-year guidance
Strong growth and confidence in full-year guidance Strong growth in 2026 to date underpins confidence in medium-term growth plans, with benefits expected to earn through progressively in H2 Full-year profit guidance confirmed: slightly ahead of 2025 2026 net insurance margin expected to be within ta
Slide 22: Q&A Thank you!
Q&A Thank you!
Slide 23: Disclaimer
Disclaimer LEGAL NOTICE This presentation has been prepared to inform investors and prospective investors in the secondary markets and other market participants about Sabre Insurance Group plc and its subsidiaries (the "Group") and does not constitute an offer of securities under any applicable legi
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