AA PLC The AA announces that it has agreed to sell the AA's Home Emergency Services policy book to HomeServe. This transaction, which is expected to complete early in 2018, aligns with the AA's strategic focus on the Roadside Assistance and Insurance businesses.
Under the terms of the agreement, HomeServe will acquire approximately 70,000 consumer policies who will migrate from May 2018. HomeServe will operate the business under the AA brand for the next three years.
The AA will continue to provide Home Emergency Services cover for its business customers via its banking relationships and as add-ons to other home insurance policies. Claims fulfilment services for these will be outsourced to HomeServe.
On completion, approximately 70 plumbing and gas engineers will transfer to HomeServe.
Simon Breakwell, Chief Executive Officer, said:"This is a progressive step for us in light of our sharpened strategic focus. We thank the team for all they have done to build this business and wish them and the business well under new ownership.
Home Emergency Services remains an important product for our corporate business partners and we are proud to continue to deliver home services under the AA brand."
Enquiries Investors
Jill Sherratt +442073957301
Zeeshan Maqbool +442073957303
Media (Headland) +442038054822 Francesca Tuckett
Emma Ruttle
AA plc published this content on 29 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 November 2017 11:07:05 UTC.
Original documenthttp://www.theaaplc.com/~/media/Files/A/AA-Plc-V2/results-presentations/2017/home-emergency-services-press-release-29-11-2017.pdf
Public permalinkhttp://www.publicnow.com/view/D2ECE65ABCB422C2F3AD9C3D9E3BB9F2878732F8
