Transaction positions Chubb to broaden in area of interest market with substantial progress potential
WHITEHOUSE STATION, N.J., April 22, 2024 /PRNewswire/ — Chubb at this time introduced a definitive settlement to amass Healthy Paws, a U.S.-based managing normal agent (MGA) specializing in pet insurance coverage, from Aon plc (NYSE: AON), a number one international skilled providers agency. The transaction positions Chubb to broaden in a distinct segment market with substantial progress potential. Financial phrases of the deal, which is predicted to shut within the second quarter, weren’t disclosed.
“We are delighted to welcome Healthy Paws to the Chubb household,” mentioned John Lupica, Vice Chairman, Chubb Group and President, North America Insurance. “Together, we will lengthen the attain and amplify the affect of this esteemed pet insurance coverage model in a vastly underpenetrated market. As a part of Chubb, Healthy Paws will empower extra pet homeowners to fund medical care and navigate the rising prices of veterinary care.”
Since 2013, Chubb has been the unique underwriter of the Healthy Paws pet insurance coverage program for Aon. The long-standing Chubb and Healthy Paws relationship positions the mixture for accelerated progress whereas supporting a seamless transition for workers, prospects and different business companions.
“Chubb has been an essential a part of our journey for greater than a decade and is a perfect accomplice to allow us to proceed our mission on a bigger scale and provide even larger worth to the pet neighborhood,” mentioned Jon Harris, who’s at the moment President and COO of Healthy Paws and can proceed main the business. “There are large alternatives forward to broaden the optimistic affect we’ve got on pets and pet dad and mom.”
Founded in 2009, Healthy Paws has been a trailblazer within the pet insurance coverage area and at the moment serves greater than 500,000 dogs and cats within the U.S. The firm offers program and claims administration through a digital proprietary platform.
About Chubb
Chubb is a world chief in insurance coverage. With operations in 54 international locations and territories, Chubb offers business and private property and casualty insurance coverage, private accident and supplemental medical health insurance, reinsurance and life insurance coverage to a various group of shoppers. As an underwriting firm, we assess, assume and handle danger with perception and self-discipline. We service and pay our claims pretty and promptly. The firm can also be outlined by its in depth product and repair choices, broad distribution capabilities, distinctive monetary power and native operations globally. Parent firm Chubb Limited is listed on the New
York Stock Exchange (NYSE: CB) and is a part of the S&P 500 index. Chubb maintains govt workplaces in Zurich, New York, London, Paris and different places, and employs roughly 40,000 folks worldwide. Additional data will be discovered at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made on this press launch, equivalent to these associated to the acquisition of the business famous above, potential post-acquisition efficiency or in any other case, mirror our present views with respect to future occasions and are made pursuant to the protected harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements contain dangers and uncertainties that would trigger precise outcomes to vary materially from such statements, together with with out limitation, our potential to realize the anticipated advantages of the proposed transaction; the anticipated timing of completion of the transaction; completion of closing circumstances; our potential to combine the acquired business, operations and workers; normal aggressive, financial, political, insurance coverage and reinsurance business market circumstances; and judicial, legislative, regulatory and different governmental developments, in addition to administration’s responses to those components, and different components recognized in our filings with the Securities and Exchange Commission. Readers are cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the dates on which they’re made. We undertake no obligation to publicly update or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case.
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SOURCE Chubb
