European and American pet insurance join forces
German-based pet insurance provider Smart Paws merged with US medical insurance Trupanion eyeing expansion to EU markets.
Trupanion intends to enter the German and Swiss markets and access other key European markets through this deal. The amount has not been disclosed.
“Continental Europe is a highly attractive opportunity for Trupanion, offering high per capita spending and relatively low levels of pet insurance penetration,” said Simon Wheeler from Trupanion.
Smart Paws CEO Sven Isenberg welcomed the development and said that both companies “share the same aim” of being “a trusted partner to pet owners and veterinary professionals.”
More than 70,000 enrolled pets
The European pet insurance team will continue to manage and administer all of its products and membership policies and be part of Trupanion’s organization.
Founded in 2000 and headquartered in Seattle, Trupanion operates in the United States, Canada, and Australia with over 740,000 enrolled pets.
Smart Paws, which was co-founded by veterinary and insurance professionals, operates in Germany and Switzerland and provides bespoke offerings to meet the pets’ and their owners’ needs.