The Automobile Association (The AA), a British motoring association founded in 1905 was demutualised in 1999 to become a private limited company which currently provides car insurance, driving lessons, breakdown cover, loans and motoring advice, and other services. Following demutualisation the AA Motoring Trust was created in 2002 to continue its public interest and road safety activities. In 2007 the AA merged with Saga Group to form Acromas Holdings.
Info gleaned from Wikipedia
The Automobile Association (The AA) is a British company providing car insurance, driving lessons, breakdown cover, loans and motoring advice, and more recently home and contents insurance and home emergency cover. It was a former motoring association that became a private limited company in 1999, and is owned by its staff and three private equity firms.