Crum & Forster, Accident & Health said Wednesday it is combining with Pethealth Inc. in a reorganization plan expected to close by the end of the fourth quarter of 2020.
Both companies are wholly owned subsidiaries of Fairfax, and under the terms of the deal Pethealth will be a wholly-owned subsidiary of Crum & Forster. The combination of the two under the Accident & Health umbrella, with the guidance of A&H President Gary McGeddy, will create the fourth largest pet insurance entity in the U.S. market
“We are excited to welcome the Pethealth team to the C&F Accident & Health family,” said McGeddy. “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, chief executive officer of Pethealth since 2014, will continue in his role with the company and join the A&H executive team, reporting directly to McGeddy.
“We have a WIN-WIN-WIN focus at Pethealth,” said Smith. “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.”