AA enjoys continued strong growth
AA grew its motor insurance arm by 10%, fuelled by its Qatar-Re backed MGA arm.
The insurance and roadside assistance group revealed it had grown its overall motor book to 803,000 policies - up 10% on the year before.
The home book grew by 1.3% to 841,000 policies, it said in a trading update for the half-year.
The AA said it reflected the ’continued strong growth of our in-house underwriter and the benefit of ongoing investment in systems including Insurer Hosted Pricing for the broker’.
MGA behind the policy growth
The AA says it is using customer data - with many customers also roadside assistance members - to fuel growth at its in-house underwriter.
The in-house underwriting team wrote 400,000 motor policies, up 18% on the year before, with the strongest growth coming from 138,000 policies pulled in naturally, namely those who are not roadside assistance members.
The underwritten home book increased by 17% to c.304,000 policies.
The share price has risen around 8% since the trading update yesterday.
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