RAC to buy out Axa interest and renew Axa Direct

RAC has agreed to buy out Axa Insurance's interest in RAC Financial Services and to acquire the renewal rights of Axa Direct.

The move follows Axa's decision to abandon the direct route earlier this year and completes the disposal of all its direct interests.

The acquisition will enable RAC to control its financial services strategy, which, it said, is an important step towards developing a significant presence in this area.

The consideration will be satisfied by a cash payment of £29.8m on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: