Chubb, the global insurance giant, has announced its definitive agreement to acquire Healthy Paws, a U.S.-based pet insurance provider, from Aon, a leading professional services firm. This strategic move will enable Chubb to expand its presence in the rapidly growing pet insurance market.
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Healthy Paws, a managing general agent (MGA) specializing in pet insurance, has been a trailblazer in the industry since its founding in 2009. With over 500,000 dogs and cats currently covered, Healthy Paws utilizes a digital proprietary platform for program and claims administration.
John Lupica, Vice Chairman of Chubb Group and President of North America Insurance, expressed his excitement about the acquisition, stating, "We are delighted to welcome Healthy Paws to the Chubb family. Together, we will be able to extend the reach and amplify the impact of this esteemed pet insurance brand in a vastly underpenetrated market."
Chubb has been the exclusive underwriter of the Healthy Paws pet insurance program for Aon since 2013. This longstanding relationship sets the stage for accelerated growth, ensuring a seamless transition for employees, customers, and other business partners.
Jon Harris, President and COO of Healthy Paws, emphasized the potential of the partnership with Chubb, saying, "Chubb has been an important part of our journey for more than a decade and is an ideal partner to enable us to continue our mission on a larger scale and offer even greater value to the pet community. There are tremendous opportunities ahead to expand the positive impact we have on pets and pet parents."
The transaction is expected to close in the second quarter, and financial terms were not disclosed. With this acquisition, Chubb is well-positioned to capitalize on the significant growth potential of the pet insurance market while providing enhanced coverage and service to pet owners across the United States.
