Sabre
www.sabre.co.uk| Region: | Europe |
|---|---|
| Sector: | Services & Industrials |
| Investment Year: | 2014 |
| Transaction Value: | £240m |
Realised
Sabre Insurance Group is a specialist UK private motor insurer with expertise in non-standard motor insurance that was acquired by BCEC IX in 2014. The company has has an established track record of market leading underwriting performance and a broad underwriting footprint and multi-channel distribution through a network of c. 1,000 intermediaries (indirect) and through its own three Direct Brands - Go Girl, Drive Smart and Insure 2 Drive.
Investment Thesis
Best-in-class motor insurer with market leading loss ratio and profitability across the UK motor insurance industry.
Excellence in non-standard risks with hard to replicate underwriting approach.
Track record of policy growth without compromising profitability and the highly cash generative business model.
Significant growth potential in direct brands with direct brands increasing rapidly during BC Partners' ownership to c. 30% of policies.
Founders successfully transitioned to non-executive roles with strong independent management team and board in place before IPO.
In December 2017, Sabre successfully completed an Initial Public Offering (“IPO”) on the London Stock Exchange (Ticker: SBRE) and after a number of secondary sales BCEC IX fully exited its investment in Sabre in September 2018.