Independence Pet Holdings, Inc. (IPH), part of the JAB Holding Company investment platform, recently ANNOUNCED that it has acquired a majority interest in Spot Pet Insurance (Spot), a pet insurance brand that offers dog and cat insurance plans in the United States and Canada — recently surpassed $100 million in gross written premium (GWP).
Established in 2021, IPH is a corporate holding company that owns and operates a portfolio of more than 15 pet health brands within North America.
This transaction builds on a partnership that began in 2022 with IPH’s first investment in Spot. Today, IPH handles Spot’s underwriting, customer service, claims activities, and a variety of other administrative services. Financial terms were not disclosed.
Independence Pet Holdings insurance brands include the following:
- Embrace Pet Insurance, FIGO, Pets Best, AKC Pet Insurance, PetPartners, Independence American Insurance Company, Pumpkin, Felix, ASPCA Pet Health Insurance, Pets Plus Us, Spot, and Independence Pet Group (IPG).
RELATED:
Independence Pet Holdings Acquires Spot Pet Insurance (6.3.24)
https://www.businesswire.com/news/home/20240603159930/en/Independence-Pet-Holdings-Acquires-Spot-Pet-Insurance
Independence Pet Holdings Completes Acquisition of Pets Best (4.21.24)
https://www.pets.care/news/2024/04/iph-completes-acquisition-of-pets-best-insurance-services/
- IPH has completed the acquisition of Pets Best Insurance Services, LLC (Pets Best) from consumer financial services company, Synchrony.
RECENT PET INSURANCE NEWS:
Nationwide Dropping 100K Pet Insurance Policies, Blaming High Vet Costs and Inflation (6.9.24)
https://www.pets.care/news/2024/06/nationwide-pet-dropping-100k-insurance-policies-citing-high-vet-costs/
- Nation’s largest insurance provider dropping insurance coverage for approximately 100,000 pets across the country — the age, breed or prior claims history of the pets will not be factored into which policyholders get dropped, Nationwide said.