ManyPets acquires Digital Edge Insurance Company
Pet insurance company ManyPets announced the acquisition of Digital Edge Insurance Company, a US-based carrier, from Munich Re Digital Partners US Holding Corporation, following regulatory approval.
ManyPets’ US policies are currently underwritten by Accredited Surety and Casualty Company. The acquisition of Digital Edge will enable the ManyPets group to underwrite its own policies in 45 states. Following the acquisition, ManyPets will operate a multi-carrier strategy in the US, continuing to work with its existing partner, Accredited Surety and Casualty Company.
The ManyPets group now insures more than half a million pets globally.
“Our latest investment marks the next stage of growth in the US market and provides an increased level of flexibility as we expand our footprint and evolve our proposition at speed. The growth we have achieved in just 18 months is phenomenal and testament to our model which we’ve seen take off in the UK and Sweden. The addition of Digital Edge’s coverage will allow us to continue to deliver against our ambitious growth plans to reach more pets across the states.” – Steve Long, CEO of ManyPets US.