Crum & Forster Accident & Health has announced that pet insurer Pethealth will complete a reorganization transaction that will result in Pethealth combining with the Crum & Forster family. Pethealth will become a wholly owned subsidiary of Crum & Forster Holdings Corp, which in turn is a subsidiary of Fairfax Financial Holdings. The transaction is expected to close in the fourth quarter. The combination will create the fourth-largest pet insurance entity in the US market.
Pethealth, also a Fairfax company, entered the pet insurance industry in 1998. The company will be combined under the A&H umbrella under the leadership of A&H president Gary McGeddy.
“We are excited to welcome the Pethealth team to the C&F Accident & Health family,” McGeddy said. “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. Pet insurance will, without doubt, be a significant contributor to A&H’s projected growth, even more so with this alignment.”
Sean Smith, CEO of Pethealth since 2014, will continue in the role and will join the A&H executive team, reporting to McGeddy.
“We have a win-win-win focus at Pethealth,” Smith said. “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. We’ve loved the Fairfax culture since the day Fairfax acquired Pethealth, and are excited to continue to accelerate this culture – onward and upward with Crum & Forster.”
