Global Risk Partners (GRP) has concluded the acquisition of pet insurance company Petsmedicover, which trades as VetsMediCover.
The deal marks GRP’s foray into England’s pet insurance market.
Established in 2016, Petsmedicover is led by Sarah Bascombe. The company specialises in delivering cat and dog insurance.
Following closure of the deal, the business will become part of digital broker Insync Insurance, which GRP acquired in December 2020.
Commenting on VetsMediCover becoming part of the Insync portfolio, Insync managing director Jon Norman said that it is a “very exciting opportunity for us to apply our digital capabilities to a growing brokerage”.
Norman commented: “We’re looking forward to working with the VetsMediCover team to build out our presence in the pet market.”
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With the acquisition, VetsMediCover’s Ben Foley will be appointed as the head of pet and take over the daily management.
All VetsMediCover staff will become part of Insync.
Bascombe said: “We are thrilled to be the first acquisition for Insync and, following discussions with Jon and the Insync team, I’m confident that VetsMediCover, our team and our customers will be in excellent hands as it embarks on the next stage of its journey.
“Pet insurance is a sector that lends itself to digitisation, and Insync’s track record for expansion using digital techniques, albeit with the human touch when needed, will be a key factor in building the long-term success of the business.”