Market News

Global Pet Insurance Market: Key Developments

In November 2021, AXIS Capital Holdings Limited’s specialty insurance business segment- AXIS Insurance, entered the market by partnering with Managing General Underwriter Petplan. The company partnered with Petplan via its Accident and Health unit and this strategic collaboration supported its growth objectives.

In July 2021, MetLife launched a pet insurance product that covers treatment expenses for pets grappling with accidents or illnesses, which often produces financial stress for pet parents.

In May 2021, Petco Health and Wellness Company Inc. announced the launch of Together Strong, a pet cancer awareness campaign that brings two and four-legged survivors together to highlight how routine preventative care is as vital for pets as it is for humans in the fight against cancer.

In April 2021, PTZ Insurance Agency and Home Again teamed up to provide pet health insurance to pet parents under Pets Plus Us brand. The partnership leverages both organizations' strengths, and furthers their shared vision of responsible pet ownership and animal welfare focused on pet health and safety in the United States, Canada, and the United Kingdom.

In April 2021, Petline Insurance Company and Armour Insurance announced the launch of a new pet health insurance product, Pet Shield Insurance.