Sabre CEO Shares Frustration at Market Underpricing
Sabre CEO Geoff Carter expressed frustration at the market underpricing despite anticipating it.
While it is slightly frustrating that the market has underpriced against on-going claims inflation, we had anticipated this, and it is factored into our business model.
According to the insurer's trading update for the first nine months of the year, motor gross written premiums dropped 19.6% to £133.1m, and taxi GWP decreased by 22% to £9.9m. However, motorcycle business rose 6.1% to £8m.
Author's summary: Sabre CEO Geoff Carter discusses market underpricing.
- Motor gross written premiums: -19.6% to £133.1m
- Taxi GWP: -22% to £9.9m
- Motorcycle business: +6.1% to £8m