Sabres trading update appears to be the new info
Admiral, DLG and probably some other insurers getting dragged down
UK motor insurer Sabre became one of the first casualties of the worsening inflationary squeeze on the sector as it warned of a profit hit from rising costs, sending its shares down more than a third and dragging bigger rivals lower.
In a half-year trading update on Thursday, London-listed Sabre said the annual increase in the cost of claims was running at about 12 per cent. That means it is paying more for parts, labour and replacement cars, among other items.