- Motor insurance group Sabre Insurance said it had agreed to become the exclusive underwriter for policies issued by motorcycle insurer MCE Insurance.

Sabre said it would have complete control of pricing, claims handling and reserving.

It added that it also had received access to MCE's multi-year claims and policy data, which would be combined with Sabre's digital pricing techniques.

'Sabre is not paying a financial consideration to MCE and will not be liable for any historical policies, claims or activities of the previous underwriter,' it said.

'This agreement provides a unique opportunity for Sabre to enter a new market at scale.'

Sabre said it expected associated gross written premium of over £20 million per annum and the deal to generate a pre-tax profit contribution in the region of £3 million-to-£5 million.

Story provided by