Allianz considers £5 billion takeover of British AA

Allianz is considering a takeover bid for the British roadside assistance provider AA, valued at approximately £5 billion (roughly €5.84 billion), according to reports from Sky News and Reuters.

Allianz is reportedly among a small group of potential suitors, which includes the private equity firm EQT, that have entered discussions with AA's advisors. The potential acquisition would allow the Munich-based insurer to expand its international service business beyond traditional insurance products, following recent acquisitions such as HSBC Life Singapore and UOB Asset Management.

AA, founded in 1905, was previously taken private in 2014. While the owners have reportedly explored various options including a London Stock Exchange re-listing, neither Allianz nor AA has officially commented on the discussions.