Independence Pet Group, Inc.
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Independence Pet Group, Inc. - overview
Established
2021
Location
New York, NY, US
Primary Industry
Insurance
About
Based in New York, US, and founded in 2021, Independence Pet Group, Inc. , a. k. a.
Independence Pet Group or IPG operates as a pet insurance company that offers underwriting options, turnkey partner solutions, and consumer-facing insurance products through the wholly owned subsidiary Independence American Insurance Company. Independence Pet Group, Inc. is a parent company of Figo Pet Insurance LLC, Independence American Insurance Company, Third Party Pet as well as a majority shareholder in PetPartners, Inc. JAB Holding Company, acquired Independence Pet Group.
In October 2021, Independence Pet Group acquired the pet insurance operations of Fairfax Financial. As of November 2022, Lane Kent is the CEO of the company. The company provides a pet insurance platform through which it offers accident and illness coverage, optional add-on hereditary coverage for inherited or congenital chronic conditions, and wellness plans for pets to ensure timely annual well visits for preventive care and early detection of potential issues. Independence Pet Group also offers coverage for pre-existing conditions after a 12-month waiting period, included in its standard accident and illness plans, and breeding coverage for conditions or complications related to breeding, pregnancy, whelping, or nursing.
Current Investors
JAB Holding Company
Primary Industry
Insurance
Sub Industries
Health Insurance
Website
www.independencepetgroup.com
Verticals
InsureTech
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Independence Pet Group, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Corporate Carve Out | Completed | Felix Cat Insurance | - | ||||||||
| Add-on | Completed | ASPCA Pet Health Insurance | - | ||||||||
| Add-on | Completed | Pethealth Inc. | - | ||||||||
| Buyout | Completed | Independence Pet Group, Inc. | - |
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