Breakdown cover and car insurance company RAC is close to selecting banks to lead its initial public offering in London, according to people familiar with the matter.
The nearly 130-year-old firm is set to pick Goldman Sachs Group Inc., Bank of America Corp. and Barclays Plc to help arrange
a possible listing, the people said, asking not to be identified as the information is private. The listing would value it at around £5 billi
on ($6.9 billion), the people said. Lazard Inc. is acting as a financial adviser on the transaction, the people said.
The RAC is one of the UK’s most popular providers of breakdown cover and car insurance. It is owned by private equity firm
s Silver Lake, CVC Capital Partners Plc and Singapore’s GIC Pte, according to its website.
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Deliberations are ongoing and details could still change, the people said. The appointment of Goldman Sachs was first report
ed by Sky News. Representatives for Silver Lake, Bank of America, Barclays, CVC, GIC, Goldman and Lazard declined to comment.
The report examines 10 of the most significant cyber incidents of 2025, selected for their operational disruption, financial impact and broader implications for the global digital ecosystem.
Compiled by TMHCCI’s Cyber Security team, the report highlights how ransomware, technology supply-chain compromise and cloud infrastructure concentration continue to drive sys
temic cyber risk for organisations worldwide. The incidents listed – not ranked – span retail, automotive, cloud infrastructure, telecommunications and luxury goods sectors, includin
g Marks & Spencer, Jaguar Land Rover and Amazon Web Services.
“This past year marked a turning point as AI evolved from a theoretical risk to an active threat. Understanding these emerging exposures and how they change remains es
sential for effective cyber underwriting,” commented Xavier Marguinaud, head of Cyber at Tokio Marine HCC International, in a statement.
“From financial losses to widespread cloud outages, it’s striking over the past 12 months to see the pace of change and how these
threats have evolved. Tracking these incidents year-on-year helps the market stay ahead of emerging cyber threats and provide the
best protection for the insured,” said Isaac Guasch, cyber security leader and author of the report.