Transaction positions Chubb to broaden in area of interest market with substantial progress potential
WHITEHOUSE STATION, N.J., April 22, 2024 /PRNewswire/ — Chubb immediately introduced a definitive settlement to accumulate Healthy Paws, a U.S.-based managing common agent (MGA) specializing in pet insurance coverage, from Aon plc (NYSE: AON), a number one world 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,” stated John Lupica, Vice Chairman, Chubb Group and President, North America Insurance. “Together, we will lengthen the attain and amplify the impression 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 mix for accelerated progress whereas supporting a seamless transition for workers, prospects and different business companions.
“Chubb has been an vital a part of our journey for greater than a decade and is a perfect companion to allow us to proceed our mission on a bigger scale and provide even better worth to the pet neighborhood,” stated 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 impression we’ve on pets and pet mother and father.”
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 gives program and claims administration by way of a digital proprietary platform.
About Chubb
Chubb is a world chief in insurance coverage. With operations in 54 international locations and territories, Chubb gives industrial and private property and casualty insurance coverage, private accident and supplemental medical insurance, reinsurance and life insurance coverage to a various group of purchasers. As an underwriting firm, we assess, assume and handle threat with perception and self-discipline. We service and pay our claims pretty and promptly. The firm can 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 element of the S&P 500 index. Chubb maintains govt workplaces in Zurich, New York, London, Paris and different places, and employs roughly 40,000 individuals worldwide. Additional info will be discovered at: www.chubb.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made on this press launch, reminiscent of these associated to the acquisition of the business famous above, potential post-acquisition efficiency or in any other case, replicate 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 capacity to attain the anticipated advantages of the proposed transaction; the anticipated timing of completion of the transaction; completion of closing situations; our capacity to combine the acquired business, operations and staff; common aggressive, financial, political, insurance coverage and reinsurance business market situations; 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 converse 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 on account of new info, future occasions or in any other case.
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SOURCE Chubb
