When combined, the company will be the fourth largest pet insurance entity in the United States.
Crum & Forster, Accident and Health (A&H) recently announced that Pethealth Inc. will complete a reorganization transaction that will result in Pethealth combining with Crum & Forster and becoming a wholly owned subsidiary of Crum & Forster Holdings Corp., which is a wholly owned subsidiary of Fairfax Financial Holdings Limited.
This transaction, subject to closing conditions, is expected to close by the fourth quarter of 2020, according to a company release.
Pethealth, also a subsidiary of Fairfax, was established in 1998 and has become a leading medical insurer for cats and dogs in North America.
“This partnership will place us fourth in the $1.6 billion pet insurance market, and we look forward to working with the team to strategically move us up the rankings and offering the best possible cat and dog medical insurance solutions,” said Crum & Forster A&H President Gary McGeddy in the release.
Pethealth CEO Sean Smith will continue in his role and will join the A&H executive team. “Any undertaking we broach has to be a win for pets and pet parents, a win for animal welfare and a win for our organizations and our people, and this move into the Crum & Forster A&H division represents all these items,” said Smith.
Roberto Capobianco, senior vice president of Crum & Forster, looks forward to leveraging the collective expertise of their leadership team in collaboration with Pethealth. “We will leverage our combined tools, talent and technique to help even more pets live longer, healthier lives,” he said.