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Sabre Insurance Group eyes 'attractive' FY'18 dividend

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Sabre Insurance Group eyes 'attractive' FY'18 dividend

U.K.-based Sabre Insurance Group PLC expects to be able to pay "an attractive full-year dividend" after reporting that a key measure of solvency was above the company's target range.

The Solvency II coverage ratio was 195% as of Sept. 30, compared to a target range of 140% to 160%.

"This provides the board the option to return surplus capital to shareholders following the full-year results, should the capital position improve further throughout the remainder of 2018," CEO Geoff Carter said.

The company, which carried out an IPO in December 2017, said it continues to focus on "underwriting profitability over growth," as gross written premiums for the nine months to Sept. 30 dipped to £162.6 million from £165.0 million a year earlier.

It expects full-year premiums to be in line with those for 2017, and expects to report a combined ratio in the mid-70% range, compared to 68.5% in 2017.