Sabre
Sabre to ride on in motorcycle with broker deals after MCE collapse
Sabre is in discussions with larger motorcycle brokers and confident of adding two new partners towards the end of 2024 and into next year, CEO Geoff Carter told Insurance Age.
MCE had £5.2m loss before collapse and HMRC now one of biggest creditors
Broker MCE was carrying a £5.2m Ebitda loss before its collapse, leaving HM Revenue & Customs with an estimated £828,844 claim, according to the administrator’s report.
AA Insurance Services switches to CDL from inhouse legacy system
AA Insurance Services has gone live on CDL Strata, kicking of a phased programme to migrate about two million car and home policies, Insurance Age can reveal.
What next for Mark Wilson after Abacai exit?
Despite his departure from insurtech Abacai, Mark Wilson has talked previously about the need to disrupt the insurance status quo going back to his days as group CEO of Aviva. Based on the assumption this exit is just a blip in that mission, Jonathan…
FCA names MCE administrators
The Financial Conduct Authority has confirmed that Mark Holborow, Vincent Green and Steven Edwards of Crowe UK are the joint administrators of MCE Insurance, as appointed by the company’s directors.
Motorbike broker MCE enters into administration
Motorbike broking specialist MCE Insurance Limited entered into administration last night, it has been confirmed.
Sabre picks CDL for pricing and for retail platforms
Sabre Insurance has moved its pricing and direct insurance platforms to CDL, Insurance Age can reveal.
Profits down two-thirds at Sabre in 2022
Sabre Insurance has reported a 66.5% drop in profit after tax to £10.1m for 2022, as the combined operating ratio deteriorated to 96% from 79.4% in 2021.
Brokers key to new UK regulated insurer Lumun’s success, says CEO Bilney
The CEO and founder of the proposed new UK regulated motor insurer Lumun has outlined the importance of brokers to its success.
Car insurance premiums up 6% in the last 12 months
The cost of comprehensive car insurance rose by £32 in the last 12 months, according to research by Confused and WTW.
Sabre warns of surging claims costs as motor GWP and profit drops
Gross written premium in Sabre’s motor book has dropped around 10.6% compared to the same period in 2021, the insurer has revealed in its half year results.
Sabre reveals Bennetts partnership and promises flexi insurance broker push
Insurer reported £169.3m of gross written premium and a combined operating ratio of 79.4% for 2021.
Sabre reports dip in profit for 2021
Provider delivers a combined operating ratio of 79.4%.
Freeway announces £250m deal with Sabre
The deal will stretch over five years and will see Sabre become an exclusive underwriting partner for Freeway’s MGA portfolio.
MCE slams Gibraltar regulator after insurer arm goes into run-off
MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November.
MCE cites Solvency II as reason for run-off of Gibraltar-based insurance arm
MCE boss Julian Edwards says Solvency II favours larger insurers as he discusses the broker's capacity deal with Sabre.
Sabre expands into motorcycle insurance with MCE underwriting deal
Sabre takes over as MCE states it stopped placing new business and renewals with its own Gibraltar-based insurance arm, MCE Insurance Company, on 5 November.
Sabre reports COR of 74.4%
Results for H1 show GWP drop as motor specialist prioritises profitability over volume, joins Saga panel and flags creation of temporary insurance product in H2.
Sabre reports profit fall as results are "heavily disrupted" by the pandemic
The motor provider posts £173.2m in GWP and a combined operating ratio of 75.3% in 2020.
Sabre reveals new chairman
Andy Pomfret will succeed Patrick Snowball, who is stepping down on 1 September.
Sabre reports GWP of £86.9m for first half of 2020
The motor insurer said it had continued focus on a strategy of prioritising underwriting profitability over volume whilst reflecting Covid-19 impacts using a data-driven pricing approach.