JAB-backed IPG completed the acquisition of Crum & Forster Pet Insurance Group and Pethealth from Fairfax Financial for $1.4bn.

JAB-backed Independence Pet Group, a full-stack pet insurance platform, completed the acquisition of Crum & Forster Pet Insurance Group, a provider of pet health insurance, and Pethealth, a provider of animal management software, from Fairfax Financial, a company engaged in property and casualty insurance and reinsurance and the associated investment management, for $1.4bn. ”JAB has had an outstanding track record over the past 10 years and we expect this to continue. While we have sold our pet insurance business to JAB, we will invest $200 million in their JCP V to become their partners. We expect JAB to soon become leaders in pet healthcare and pet insurance globally. We wish them much success,” Prem Watsa, Fairfax Founder, Chairman and CEO.