RAC plc · Norwich England
Company Description
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This link will open in a new window Trouble in the air? Call the RAF. Trouble on the road? Try RAC. RAC is best known for providing roadside assistance for stranded motorists in the UK and also offers the same deal in around 50 European countries. In addition, the company provides advice on car buying and car care, sells insurance (including auto, home, travel), offers drivers' training courses, and repairs windshields. RAC is a subsidiary of insurance titan Aviva , which acquired RAC to expand the offerings of the insurer's Norwich Union brand. The RAC name comes from the UK's Royal Automobile Club, which sold its breakdown assistance unit to the company in 1999. To read the full description, subscribe now.
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Key RAC plc Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $28.0 |
| Employees | 10,199 |
RAC plc Executives
19 executives listed for RAC plc's Norwich, location.
| Title | Name & Bio | Contact |
| Managing Director | Debbie Hewitt | Network |
| Financial Services Partnership Manager | Mary Livingstone | Network |
| Media Relations Manager | Vicki Burn | Network |
Competition
Competitive Landscape for RAC plc
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top RAC plc Competitors
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