View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 20, 2021updated 20 Jul 2022 6:55am

JAB finalises deals to buy pet insurance companies in UK and US

JAB has concluded agreements to purchase pet insurers in the US and the UK to bolster its presence in the animal health insurance market.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The investment firm has entered into an agreement with BNP Paribas Cardif to acquire a majority stake in Cardif Pinnacle for an undisclosed sum.

Through the acquisition of Cardif Pinnacle, JAB aims to offer a range of pet insurance services throughout the UK, EMEA and Latin America.

JAB and BNP Paribas Cardif also plan to offer additional pet healthcare services over time.

The deal, which is subject to regulatory approval, is expected to close in the second quarter of 2022.

JAB Insurance partner Dirk Beeckman said: “Our collaboration with BNP Paribas Cardif reflects a shared vision that pet owners in the UK and Europe deserve better, and that by combining forces we can build on BNP Paribas Cardif’s strong expertise and support to enter new markets and achieve accelerated, long-term growth.”

BNP Paribas Cardif CEO Pauline Leclerc Glorieux said: “We believe the combination of BNP Paribas Cardif’s global partnership know-how and strong technical capabilities, drawn from extensive experience, with JAB’s expertise establishing world-class brands and platform building, ideally positions us to become one of the leaders in the growing pet healthcare industry.”

Concurrently, JAB’s Independence Pet Holdings platform in the US has signed a definitive agreement to acquire pet insurance provider Figo for an undisclosed sum.

Figo CEO and founder Rusty Sproat said: “Figo exists because of our deeply held belief that pet owners deserve simple and meaningful solutions to protect their loved ones.

“We are thrilled to partner with JAB to improve the quality of care and coverage available through Figo’s best-in-class technology and customer experience.”

Figo’s acquisition, which is expected to close by the end of 2021, follows the recent acquisition of Independence Holding Company’s (IHC) pet insurance business.

The deal includes the consumer-facing PetPartners, and IHC’s pet insurance business, Independence American Insurance Company.

Under the agreement, the shareholders of Figo will roll a portion of their proceeds into PetPartners.

JAB senior partner David Bell said: “Our acquisitions of Figo and IHC’s pet insurance business are a significant step forward in our ambition to build a world-class petcare platform.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International