Kayne Anderson Rudnick Investment Management has acquired further shareholding in Sabre Insurance Group Plc.
The US investment firm, whose stake previously stood at 5.07%, now has 6.22% of voting rights attached to shares out of Sabre’s 250 million total. That means Kayne Anderson Rudnick’s voting rights in the British motor insurer, following the acquisition, are in excess of 15.5 million.
Earlier this year, it was revealed that AXA Investment Managers owns 5.04% of the underwriter, whose ordinary shares were admitted to trading on the London Stock Exchange in December 2017.
This week Sabre announced its financial results for the first half of 2019. Pre-tax profit in the six months ended June 30 was at £30.5 million (around US$37 million), while profit after tax amounted to £24.7 million (around US$30 million).
