Sabre Insurance Group Plc, which less than a month ago revealed the sale of 18.2% of its outstanding ordinary share capital, has now announced the immediate resignation of a board member.

Non-executive director Matthew Tooth, who was appointed in September 2017, has notified Sabre’s board of his intention to resign effective immediately. He was nominated by private equity firm BC Partners Group under its relationship agreement with the motor insurer.

“On behalf of the board, I would like to thank Matthew for his contribution to Sabre, both during its time as a private business and through its main market listing on the London Stock Exchange,” commented Sabre non-executive chair Patrick Snowball. “We wish him the very best going forward.”

No reason has been cited by the Surrey-based insurance provider for Tooth’s departure.

Related stories: 
Sabre Insurance investors sell 45.5 million shares
Sabre Insurance sheds more light on floatation plans