"Fairfax is pleased to partner with Olivier Goudet and Jabi Holding," said Fair Watx founder, chairman and CEO. "JAB has done well over the past 10 years and we hope it continues. When we sold our JAB insurance for pets, we invested $ 200 million in their JCP V to become partners. We hope that JAB will soon become a world leader in pet health and safety. We wish him success.
With insurance coverage below 3% in key markets such as the US and Canada, the global pet insurance industry is growing by about 20% annually and there is a strong possibility that this trend will continue. This is reflected in the assessment of JAB development. Na Christus. By 2023, the JB International Joint Forum on Animal Safety and the Environment is expected to include more than $ 1.2 billion in total premium revenue and more than $ 1.2 billion in veterinary services.
"Today's transaction is a milestone in our mission to be a world leader in our pet safety and health ecosystem." "It will also strengthen our mission to keep pets healthy and safe by providing affordable and comprehensive pet products and brands throughout their lives." C & F Pet's long, multi-channel channel fits perfectly into our culture and we look forward to working with the team.
JIV Managing Partner and CEO Olivier Goudet added: “We are delighted to work with Prem and the organization in this transformation agreement and to accept them as our fundraising partner. Prime has an impressive ten-year history of building big businesses and generating revenue, and as part of our focus, we look forward to accelerating the growth of their pet insurance business through the Free In-Game Animal Insurance Forum.
C&F Pete currently guarantees more than 500,000 pets across North America. He has also served as Secretary General of several U.S. brands, including ASPCA Pet Health Insurance, 24Petprotect, Hartville Pet Insurance, Spot Insurance Services, Pumpkin Insurance Services and PetCoach, LLC. Canada. Meanwhile, Pethealth offers parent and pet safety solutions under the 24-Pet brand.
Gary McGaddy, President of Crum and Forster A&H, said: "We are confident that JAB will continue to invest and focus on pets and their parents, and we are excited about the future and our partnership.
The transaction will be subject to the usual closing terms and is expected to close in the second half of 2022.