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PPG and Correlation Form Long-Term Partnership to Drive Innovation in Pet Insurance
LONDON–(BUSINESS WIRE)–
Pinnacle Pet Group (“PPG”), a leading pan-European animal insurance coverage service provider with JAB Holding Company as managing investor, today revealed it will get Animal Friends Investments Ltd, which completely owns Animal Friends Insurance Services Ltd (“Animal Friends”), a U.K. based multi-award-winning animal insurance coverage service provider from Correlation One Holdings Ltd (“Correlation”).
Animal Friends is a professional insurance coverage intermediary with more than 400 staff members and a 25-year performance history using economical animal insurance protection with remarkable customer support. Animal Friends presently secures more than 1,100,000 cats, dogs, and horses in the United Kingdom and has actually assisted well-being charities and preservation organisations worldwide.
“Since its establishment in 1998, Animal Friends’ unique approach to pet insurance has saved thousands of animals, inspired positive change in the sector, and protected vulnerable ecosystems around the world,” said Dirk Beeckman, CEO of JAB’s animal insurance coverage portfolio. “We are thrilled to welcome the Animal Friends team into the PPG family, and to further build out its award-winning services and socially driven approach.”
As part of the PPG family, Animal Friends will intend to additional build its brand name, knowledge, and services to broaden its reach throughout the United Kingdom and into brand-new European markets.
Animal Friends CEO, Westley Pearson, said, “This is an exciting new home for Animal Friends with the Pinnacle Pet Group. Our business has grown over the past five years and this acquisition is a natural next step, further solidifying our position as a leading pet insurance provider in the UK market. We’re really looking forward to working with JAB and PPG, driving change in the sector together and finding new ways to enhance the lives of pets and pet parents.”
Further to the sale of Animal Friends to PPG, PPG and Correlation will form a long-lasting collaboration to drive development and development in animal insurance coverage, consisting of through the similarity Waggel, a fast-growing animal insurtech in the UK; Vet-AI, a veterinary telehealth service provider; Biscuit, an ingenious benefits and rewards platform for animal moms and dads; and Kozoo, an emerging gamer in the French animal insurance coverage market.
“In line with the steady rise in pet ownership, the UK pet insurance market has undergone a period of consistent growth over the last decade and has further accelerated insurance adoption,” said Michael Thorpe, Managing Director at Correlation Risk Partners. “Our partnership with Pinnacle Pet Group brings together two highly experienced teams which, combined with the depth and international reach of PPG’s portfolio, will allow us to expand our pet insurance offerings and adjacent services.”
PPG was formed in 2021 to supply owners and animals access to the very best insurance coverage and care available throughout the U.K. and Europe. The acquisition of Animal Friends undergoes traditional closing conditions, consisting of relevant regulative approvals.
Since releasing in 1998, Animal Friends has actually stayed unfaltering in its dedication to save animals, influence modification, and safeguard the future of susceptible environments, at home and abroad. To date, Animal Friends has actually contributed over £7.8 million to more than 700 animal charities, varying from big scale neighborhood projects to little contributions and one-off tasks.
About Pinnacle Pet Group
Pinnacle Pet Group (“PPG” or “the Group”) is a leading pan-European animal insurance coverage service provider managed by JAB Holding Company. The Group uses a total series of animal insurance coverage services and products, dealing with animal owners, circulation partners, breeders, shelters, and vets. The Group was developed in 2021 through a joint endeavor with BNP Paribas Cardif.
View source variation on businesswire.com: https://www.businesswire.com/news/home/20230403005858/en/
The One Nine Three Group for JAB
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Charlie Harrison: [email protected]
Source: Pinnacle Pet Group
