Independence Pet Group Completes Acquisition of Pet Insurance Operations of Fairfax Financial
Summary
Mr. Kent, who has served as IPG’s Chief Operating Officer since IPG’s formation last year, is a seasoned insurance executive, with more than 30 years of industry experience, including holding executive positions at Mutual of Omaha, New York Life, Univita/LTCG, and Southern Guaranty Insurance Company. Mr. Kent will succeed current CEO David Kettig, who will transition to Vice-Chairman of the Board of IPG. This acquisition will also expand IPG’s global footprint, positioning it as a leading pet insurance provider in both the United States and Canada, and comes as the pet insurance industry has been growing at a rate of approximately 20 percent per year on a global basis driven by attractive and sustained long-term trends. “This transaction represents an important milestone and a significant step in our journey to become the leading one-stop platform for all things that improve pet wellness, including our industry-leading pet insurance brands,” said David Kettig. “It has been an honor to lead IPG through this transformative period, and now is the right time for me personally to transition oversight of the business to Lane, while continuing to do what I love.