September 12, 2017 / 6:15 AM / 11 days ago

AA confirms it had talks with rival Hastings on insurance merger

Sept 12 (Reuters) - Roadside recovery and motor insurance company AA said on Tuesday that it had preliminary talks with Hastings earlier this year to explore a possible merger of its insurance business with the rival British insurer.

“AA regularly reviews all strategic options, including whether a spin-off of any of its business lines would unlock further value and be in its shareholders’ interests,” the company said in a statement.

The Financial Times reported on Monday that AA was looking to separate its insurance unit from its main rescue and repair business and merge it with Hastings.

Hastings told Reuters on Monday that it does not comment on market speculation. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rachel Armstrong)

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