Chubb eyes expansion in pet insurance niche with acquisition of Aon MGA
US property/casualty insurer Chubb will buy the US-based managing general agent (MGA) through which it has been writing pet insurance, from global insurance broker group Aon.
Chubb has been the exclusive underwriter of the Healthy Paws pet insurance programme for Aon since 2013. Healthy Paws was founded in 2009 and provides programme and claims administration via a digital proprietary platform. President and chief operating officer of Healthy Paws, Jon Harris, will continue to lead the business.
The deal is expected to close in Q2. Terms were not disclosed.
John Lupica, Chubb group deputy chair and president of North American insurance, commented: “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. As part of Chubb, Healthy Paws will empower more pet owners to fund medical care and navigate the rising costs of veterinary care.”
Healthy Paws CEO Jon Harris added: “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.”
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