FX.co ★ Chubb To Buy Pet Insurance Provider Healthy Paws From Aon; Terms Not Disclosed

Chubb Corp, an insurance company, has officially declared its intention to acquire Healthy Paws, a pet insurance specialist operating in the United States. The acquisition will come from professional services firm Aon plc, although the financial details of the deal remain confidential. The transaction is projected to be finalized by the second quarter.

Healthy Paws, established in 2009, currently provides coverage for over half a million dogs and cats in the U.S, managing program and claims administration through its dedicated digital platform. Since 2013, Chubb has been the exclusive underwriter of the Healthy Paws pet insurance program offered by Aon.

Jon Harris, currently seated as the President and COO of Healthy Paws, will continue to spearhead the business post-acquisition. Chubb foresees that the acquisition will enable them to broaden their operations into a sector with promising growth potential.

John Lupica, Vice Chairman of the Chubb Group and President of North American Insurance, expressed his optimism about the acquisition. He shared that this endeavor would allow them to enlarge the scale and impact of this respected pet insurance brand within an under-exploited market. He added that having Healthy Paws as part of Chubb would enable more pet owners to afford medical care, effectively managing the growing costs of veterinary services.