TSX:FFH - Post Discussion
Post by
retiredcf on Jun 20, 2022 9:06am
NR
08:42 AM EDT, 06/20/2022 (MT Newswires) -- JAB Holding Company and Fairfax Financial Holdings (FFH.TO, FFH-U.TO) on Monday announced that JAB's pet insurance business will acquire all of Fairfax's interests in the Crum & Forster Pet Insurance Group and Pethealth Inc., including global operations. Fairfax will also make a $200 million investment in JCP V, JAB's latest consumer fund.
Fairfax will receive $1.4 billion in the form of $1.15 billion cash and $250 million in seller notes, JAB's combined global pet insurance and ecosystem platform will be estimated to have gross written premiums and pet health services revenues of over $1.2 billion by 2023, insuring more than 2.1 million pets. C&F Pet insures over 500,000 pets and markets or serves as underwriter for numerous brands. Pethealth provides wellbeing and safety solutions to shelters and pet owners under the 24Pet brand, which includes the 24Petwatch Registry with over 20 million registered pets.
The transaction is expected to close in the second half of 2022.
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