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Following its announcement on 13 November 2017 of its intention to proceed with an initial public offering (the "Offer" or the "IPO"), Sabre Insurance Group plc ("Sabre" or "the Company") today announces the price range for the IPO and its intention to publish, later today, a prospectus in connection with the Offer (the "Prospectus").

The price range for the Offer has been set at 220 pence to 240 pence per ordinary share, representing a market capitalisation of between GBP 550m and GBP 600m on Admission. Following the completion of the IPO, the issued ordinary share capital of the Company is expected to comprise 250m ordinary shares ("Ordinary Shares") and it is anticipated that the Company will have a free float of between 33% and 50% of its issued share capital (prior to any exercise of the over-allotment option referred to below).

The Offer will comprise an offer of new Ordinary Shares to be issued by the Company which is expected to raise net primary proceeds of up to approximately GBP 206m.

Those proceeds will be used by the Company to purchase the preference shares issued by Barbados Topco Limited ("Topco"), the current parent company of the Sabre group. The Offer will also comprise an offer of existing Ordinary Shares to be sold by certain shareholders of Topco. An over-allotment option of up to 10.0% of the Offer size will be made available by the Company's major shareholder, private equity funds advised by BC Partners LLP.

The Offer will comprise an offer of Ordinary Shares to certain institutional investors in the United Kingdom and elsewhere outside the United States in reliance on Regulation S of the US Securities Act of 1933, as amended (the "Securities Act") and to qualified institutional buyers (as defined in Rule 144A under the Securities Act) in the United States in reliance on an exemption from the registration requirements of the Securities Act.

Retail investors can apply through certain stockbrokers and share dealing providers who are participating in the Offer as Intermediaries, who will apply for Ordinary Shares on behalf of their clients. Retail investors can find further information about the Intermediaries Offer, including the Prospectus once published, and a list of the firms acting as Intermediaries for the Intermediaries Offer at www.corporate.sabre.co.uk (subject to applicable securities laws).

The minimum individual application size in the Intermediaries Offer will be GBP 1,000.

The Intermediaries Offer is expected to open following publication of the Prospectus. Individuals must apply in the Intermediaries Offer through participating Intermediaries. The latest time and date for the receipt of applications by Intermediaries is 4.00pm on 4 December 2017.

The final offer price is expected to be announced on or around 6 December 2017, with conditional dealings in the Ordinary Shares expected to commence on the London Stock Exchange on the same day.