StockMarketWire.com - Motor insurance underwriter Sabre Insurance Group reported gross written premiums (GWP) for the first nine months of the year are lower year-on-year at £152.9m, down from £162.6m in 2018.

In a trading update, the group expects full year GWP to be approximately 7% lower than the £210.0m in 2018, in line with previous guidance.

The group anticipates delivering a full year 2019 combined ratio slightly better than its mid-70% target, compared to full year 2018 of 70.6%.

Geoff Carter, chief executive of Sabre Insurance Group, said: 'Encouragingly, early signs of market premium increases or other competitor actions mean that while we have accelerated price increases to cover these emerging costs as well as ongoing inflation, our volumes are not being further negatively impacted.'

He added: 'Our performance so far in this financial year has been in line with our expectations and we remain confident that we will deliver a combined ratio slightly below our long-term target and an attractive dividend for the full year, supported by our current solvency ratio of 198%, which is well above our target 140% to 160% range.'

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