Sabre Insur Regulatory News (SBRE)

19 August 2020

SABRE INSURANCE GROUP PLC

Chairman succession

Sabre Insurance Group plc (the "Group" or "Sabre") announces that, after a successful IPO in December 2017, Patrick Snowball advised the Board at the start of 2020 that he felt the time was right to start the next stage of succession planning and to seek his successor. Following the completion of an extensive search process and the receipt of regulatory approval, Andy Pomfret, currently the Company's Senior Independent Director, has been selected to succeed Patrick as Chairman. This appointment takes effect from 1 September 2020, at which point Patrick will step down from the Board and as a Director of the Group.

Andy has extensive experience of working in the financial services sector and with UK listed companies both as an executive and non-executive director. He was Chief Executive Officer of Rathbone Brothers Plc from 2004 to 2014 having joined in 1999 as Finance Director. He is currently a Non-Executive Director of Sanne Group plc and Aberdeen New Thai Investment Trust PLC and Chairman of Miton UK MicroCap Trust plc. Previously, Andy was a Non-Executive Director at Beazley plc for eight years, during which time he chaired the Audit and Remuneration Committees and served as Senior Independent Director. He is a Chartered Accountant and was a founder member of the Prudential Regulation Authority Practitioner Panel. He also holds an MA from Queens' College, Cambridge.

Sabre is also pleased to announce that Rebecca Shelley has been appointed by the Board, and approved by the Regulator as the Company's Senior Independent Director. Rebecca has been on the Board as a Non-executive Director since October 2017.

These changes are in addition to the appointment of Michael Koller as a Non-executive Director, which was announced on 28 July 2020. Michael will join the Board with effect 1 September 2020. 

Commenting on his appointment, Andy Pomfret said:

"I am delighted to be given the opportunity to take on the role of Chairman. Patrick oversaw the successful IPO of Sabre and helped the Group establish itself as a listed business. I am looking forward to carrying on Patrick's good work with Geoff and his team, to ensure the continued success of the business".

Patrick Snowball commented:

"I have greatly enjoyed my time as Chairman of Sabre. With Sabre now successfully established as a listed business the time is right for me to step away and I am pleased to see Andy appointed as Chairman. He has all the skills and experience required for the role and will be a great source of support to the team".

Geoff Carter, Chief Executive Officer, added:

"I'd like to thank Patrick personally for all his invaluable support and advice over the last few years. He made a huge contribution during his time as Chairman and the whole Board joins me in wishing him well for the future. I'm pleased that Andy is becoming the Chairman and I know everyone is looking forward to working with him in his new role".

Pursuant to Listing Rule 9.6.13R, it is confirmed there are no other disclosures required in addition to the above information.

LEI Code: 2138006RXRQ8P8VKGV98