AA trading ‘in line with expectations’
The AA has announced it is trading in line with expectations as it enters the close period ahead of its financial year results.
The results to the year ending 31 January will be announced on 5 April, but the AA is confident it is making progress in executing their planned business strategy.
In a statement, the company said, ‘Investment in brand marketing has continued to slow the decline in Personal Member numbers, notwithstanding the adverse price impact of the recent increase in Insurance Premium Tax.
‘We are improving our membership proposition through brand investment, new products, more attractive rewards, and the AA app which is now used in more than 10% of Personal Members’ breakdowns.’
The AA has been investing in new IT systems and further digital developments to enable further cross-selling, efficiencies and improve the AA’s digital standing, and it has said the schemes being undertaken are on budget and on time.
The statement also confirmed the AA is seeking to build on a new Insurance Underwriter programme.
The AA said, ‘The Insurance Underwriter was launched in the last week of January. We will build on the strength of our brand and unique data which enables more effective pricing of risk. With new IT systems and an experienced management team, the Underwriter will initially focus on AA Members and build the business over the next few years supported by a significant level of reinsurance.’
