AA motor insurance climbing
The AA has reported its first increase in motor policies since 2008.
This is partly a result of new sales generated by its in-house underwriter, which it set up last year and underwrote 115,000 motor policies in its first year of business.
The rise in motor contributed to a trading revenue of £131m for the year ended 31 January 2017, which matched last year’s number.
Bob Mackenzie, executive chairman of the AA, said, ‘The transformation is delivering growth in our Roadside Assistance Membership base and of motor insurance policies, reversing long-term historic declines. It has given us a firm platform for sustainable growth.
‘We have delivered results in line with expectations, mitigating the increases in IPT and call outs, and paid a progressive dividend.’