The JAB Holding Company (JAB) recently ANNOUNCED that Independence Pet Holdings, (an integrated, full-stack pet insurance platform owned by JAB and the Independence Holding Company) has entered into a definitive agreement to acquire Figo Pet Insurance. The acquisition is expected to close by the end of the year.
Following such acquisition, Figo will be a wholly-owned subsidiary of PetPartners.
The JAB Holding Company also has a controlling stake in National Veterinary Associates (NVA) which owns and operates 1,200+ general veterinary practices, and specialty and emergency hospitals in the United States.
David Bell, a senior partner at JAB, said in an interview according to BLOOMBERG.COM
JAB’s access to large amounts of consumer spending data at its veterinary clinics will help the firm price premiums accurately, he said, as opposed to insurance “legacy players who by their own admittance don’t understand the pet care market well.”
JAB Holding Company: Pet Care Brands
PRESS RELEASE: JAB Expands Pet Insurance Platform Through Acquisition of Figo Pet Insurance (10.20.21)
PetPartners: Pet Insurance Provider