Liberum has today been named Joint Corporate Broker to The AA plc (Ticker: AA/ LN), one of UK's best known and most trusted brands and the country's largest breakdown cover organisation.
The AA has a market capitalisation of £2.35bn.
With more than 40% of the market, the AA responds to an average of 10,000 breakdowns a day.
Personal Members demonstrate loyalty to the brand with an average tenure of approximately 11 years. In addition, retention rates increase with membership tenure; approximately 1.5 million Personal Members had been with the AA for more than 10 years, of which some 800,000 had been Personal Members for more than 20 years as at 31 January 2014.
It also operates the largest driving school in the UK and has a market-leading position in the provision of fleet training services and administration of speed awareness courses for police forces in the UK.
The AA is one of the leading insurance brokers in the UK with a long history of distributing motor, home and other insurance products to Personal Members and non-members. It had some 2.3 million policies in force as of 31 January 2014.
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