Motor carrier Sabre Insurance Group plc has reported profit before tax of £48.6m for 2024, more than double the figure achieved the previous year. It said gross written premium was up by 5% to £236.4m and that its combined operating ratio improved by 7.4 percentage points to 84.2%. The carrier also announced its first share buyback programme.

Geoff Carter, CEO of Sabre, said: “We are extremely pleased with our performance in 2024, demonstrating string cycle management over the past twelve months. We grew strongly in the first half of the year when market conditions were attractive, and we maintained our strict underwriting discipline despite a steep decline in market prices during the second half.”