Founded in 1897, RAC provides breakdown cover and sells insurance products to 8m motorists. Led by chief executive Dave Hobday, 49, revenue increased 10% to £558m in 2017. This growth was driven by its roadside, insurance broking and motoring services divisions, with the addition of Mercedes-Benz cars and esure as corporate partners. In 2015, private equity firm CVC joined Singapore’s GIC as owner, replacing Carlyle Group, which had bought the company from Aviva for £1bn in 2011. In 2017, RAC patrols attended 2.3m breakdowns.
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