JAB Expands Pet Insurance Platform Through Acquisition of Figo Pet Insurance
19.10.2021 15:00:00 CEST | Business Wire | Press Release
JAB is pleased to announce that Independence Pet Holdings (formerly Iguana Capital), JAB’s U.S. pet insurance platform, has entered into a definitive agreement to acquire Figo, one of the leading U.S. providers of pet insurance. As part of the agreement, the shareholders of Figo will roll a portion of their proceeds into PetPartners, the consumer-facing portion of JAB’s pet insurance platform. The acquisition is expected to close by the end of the year.
Since its founding in 2015, Figo has quickly established a strong pet insurance brand and leading InsurTech position in the United States. Its modern pet insurance experience includes a simple, easy-to-follow consumer journey coupled with its Pet Cloud app, a cloud-based platform that provides 24/7 access to live veterinarians, customer support, claims processing, digital pet record management, and a social network for pet parents, all of which has driven impressive company growth, earning Figo the title of “Top InsurTech Leader” by A.M. Best’s Review.
“Figo exists because of our deeply held belief that pet owners deserve simple and meaningful solutions to protect their loved ones,” said Figo CEO and Founder Rusty Sproat. “We are thrilled to partner with JAB to improve the quality of care and coverage available through Figo’s best-in-class technology and customer experience.”
Today’s news follows the recently announced acquisition of Independence Holding Company’s (“IHC”) pet insurance business, which includes the consumer-facing PetPartners, and IHC’s pet insurance underwriting business, Independence American Insurance Company (“Independence American”). The acquisition of PetPartners closed in June. The closing of the Independence American transaction is expected later this year and is subject to customary closing conditions, including applicable regulatory approvals.
Through these acquisitions, JAB’s Independence Pet Holdings has established an integrated pet insurance platform offering full-stack capabilities ranging from consumer-focused insurance products to turnkey partner solutions. The platform is licensed in all 50 states, with insurance industry veteran David Kettig, formerly the President and COO of IHC, as CEO.
“Rusty and David are true innovators in the pet insurance industry, and we are thrilled to partner with them on this fantastic acquisition,” said JAB Insurance Partner Dirk Beeckman. “Together with their teams, they will build with us a leading North American tech-driven pet insurance ecosystem.”
“The long-term mega trends in petcare, including the humanization of pets and improvement in care, are driving sustained long-term growth, and pet families are seeking solutions to ensure the highest level of care is available and affordable,” added JAB Senior Partner, David Bell. “Pet insurance is a key resource which we want to make more widely accessible, especially in the U.S. where pet insurance is underpenetrated. Our acquisitions of Figo and IHC’s pet insurance business are a significant step forward in our ambition to build a world-class petcare platform.”
About JAB
JAB Holding Company invests in consumer-focused industries with attractive long-term dynamics, including strong growth prospects, attractive margin and cash flow characteristics, and proven resiliency. Together with JAB Consumer Partners, JAB Holding Company is the largest shareholder of Keurig Dr Pepper, a leader in the North American beverage market, and has controlling stakes in JDE Peet’s, the largest pure-play fast-moving consumer goods coffee company in the world; NVA, one of the world’s largest animal care services platforms; Independence Pet Holdings, a leading provider of pet insurance; Krispy Kreme Doughnut, a global leader in doughnuts and other premium-quality sweet treats; Panera Brands, one of the world’s largest fast casual restaurant companies, which includes Panera Bread, Caribou Coffee and Einstein Bagels; Pret A Manger, a leading company in the ready-to-eat food market; Espresso House, the largest branded coffee shop chain in Scandinavia. JAB Holding Company is also the largest shareholder in Coty Inc., a global leader in beauty, and owns luxury goods company Bally.
About Independence Pet Holdings
Independence Pet Holdings is an integrated, full-stack pet insurance platform owned by JAB Holding Company (“JAB”) and Independence Holding Company (“IHC”). It offers a comprehensive range of underwriting options, turnkey partner solutions, and consumer-facing insurance products. Independence Pet Holdings wholly owns Independence American Insurance Company, a leading provider of underwriting services to the pet insurance sector with licenses in all 50 states. It is also a majority shareholder in Pet Partners, Inc., which owns world-class pet insurance brands such as AKC Pet Insurance and PetPartners. Through its partnerships and directly owned brands, Independence Pet Holdings provides coverage for more than 200,000 pets, with policies generating premiums in excess $120 million in 2021.
About Figo Pet Insurance
Figo is a Chicago-based InsurTech company founded in 2015. Figo offers a unique combination of comprehensive insurance policies to protect your pet in the event of injury or illness; as well as industry leading technology. They have become one of the fastest growing start-ups in the country. Figo utilizes a highly engaging and mobile-friendly Pet Cloud that allows consumers to manage their pet's healthcare, socially engage with fellow pet parents, and easily discover and locate services within the pet ecosystem. They provide simple, comprehensive, and transparent policies with an award-winning customer service staff, and are widely regarded as one of the leading pet insurance companies. Pet insurance policies are underwritten by Independence American Insurance Company, a Delaware Insurance Company. Plans are administered by Figo Pet Insurance, LLC.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005674/en/
Contact information
The One Nine Three Group for JAB
Zach Siegel: zach@the193.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Enry’s Island Unveils “Enry’s Island Adventures”: Venture Capital Becomes a Videogame and Launches the “Strap” Movement on Kickstarter3.4.2026 09:47:00 CEST | Press Release
Enry’s Island SpA (WBAG: EIOS), the world’s first publicly traded Venture Builder, today announced the upcoming Kickstarter launch of Enry’s Island Adventures (EIA), developed by its New York-based portfolio company, Enry’s Island Adventures LLC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402548535/en/ The game is designed to make venture capital accessible to new generations, transforming startup creation into an engaging and social gaming experience. After three years of R&D, EIA introduces a "bleisure" model (business + leisure): players learn to launch and manage startups through gameplay that includes real business KPIs, a customizable and evolving personal island, synchronous and asynchronous multiplayer modes, social events, and community-driven seasonal missions. The “VC revolution”: teaching and democratizing through play "I agree with Elon Musk that the best way to teach is through a video game, and this is
SES Announces Results of the Annual General Meeting2.4.2026 16:49:00 CEST | Press Release
SES (the “Company”) held the Annual General Meeting (“AGM”) of Shareholders today in Betzdorf, Luxembourg. Following the recommendations made by the Board of Directors of SES, the shareholders have voted in favor of all resolutions, including the Company’s 2025 annual accounts and the proposed annual dividend of EUR 0.50 per A-share (EUR 0.20 per B-share). The total dividend amount comprises the interim dividend of EUR 0.25 per A-share (EUR 0.10 per B-share), which has already been paid to shareholders on October 16, 2025. The final dividend of EUR 0.25 per A-share (EUR 0.10 per B-share) will be paid to shareholders on April 16, 2026. “I would like to sincerely thank our shareholders for their active engagement, visionary support and continued confidence in SES’ strategy,” said Adel Al-Saleh, CEO of SES. “The outcomes of today’s AGM underscore our shared commitment to a bold multi-orbit approach, with Medium Earth Orbit as the strategic backbone of a dynamically evolving global interco
Forrester: Three Years Into GenAI, Enterprises Are Still Chasing Its True Transformative Value2.4.2026 16:00:00 CEST | Press Release
According to Forrester’s (Nasdaq: FORR) latest report, Accelerate Your AI Voyage, most enterprises are struggling to turn growing AI adoption and investment into measurable business impact. One of the key factors holding businesses back is low artificial intelligence quotient (AIQ) — Forrester’s measure of AI aptitude — with many employees lacking a clear understanding of how to use AI. Other barriers include an overemphasis on productivity-focused use cases, difficulty measuring impact, and siloed adoption within individual functions. While these challenges can leave firms frozen in doubt or indecision, the wait-and-see approach to AI adoption is no longer viable. To unlock AI’s full potential, organizations need to focus on four key areas: Define the business outcomes and success metrics for what they want AI to achieve; identify specific use cases for AI deployment aligned to those business outcomes; establish a structured runway to plan, test, and strategically time the deployment
Andersen Consulting Adds Multiplica2.4.2026 15:30:00 CEST | Press Release
Andersen Consulting enters into a Collaboration Agreement with Multiplica, a digital consulting firm that helps organizations design, build, and scale impactful digital experiences. Founded in Spain with a presence in Latin America and the U.S., Multiplica focuses on user research and discovery, customer experience research, digital strategy, data modeling and analysis, report automation and data visualization, conversion rate optimization, product design, and user experience design. The firm helps organizations accelerate digital transformation by building digital capabilities, teams, and assets that advance expertise across digital products, consulting, and talent development. Multiplica enables clients to forecast emerging trends in digital experience and transform their businesses through enhanced digital channels and customer engagement. “Collaborating with Andersen Consulting represents an exciting opportunity to extend our reach and impact,” said David Boronat, CEO of Multiplica
The LYCRA Company Announces Strategic Partnership on Renewable LYCRA ® Fiber2.4.2026 15:00:00 CEST | Press Release
The LYCRA Company, a global leader in innovative and sustainable fiber solutions for the apparel and personal care industries, today announced the signing of a strategic partnership agreement with Texhong International Group Limited (“Texhong”), one of the world’s largest suppliers of core-spun cotton textiles. Under the agreement, Texhong will exclusively partner with The LYCRA Company to bring Renewable LYCRA® fiber made with 30 percent plant-based content* to China’s core-spun yarn sector. This collaboration aims to accelerate the adoption of bio-derived spandex across the global apparel and textile industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402505834/en/ The LYCRA Company announced a strategic partnership with Texhong International Group for renewable LYCRA® fiber. Pictured at the signing ceremony held in Shanghai (left to right): Jason Wang, Vice President, Asia, The LYCRA Company, and Zhou Xia, Chief O
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom