Fairfax to Acquire Pet Insurance Provider Hartville Group
2013年5月16日 - 6:49AM
Marketwired
Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces
the signing of a merger agreement with Hartville Group, Inc., of
Canton, Ohio, pursuant to which Hartville will become wholly-owned
by Crum & Forster's United States Fire Insurance Company. The
transaction, which is subject to customary conditions including
regulatory approval, is expected to close early in the third
quarter of 2013.
Hartville, one of the oldest and largest pet insurance providers
in the U.S., provides pet insurance plans under several brand
names, including Hartville Pet Insurance and the Petshealth Care
Plan. Hartville also is the exclusive strategic partner for pet
insurance with The American Society for the Prevention of Cruelty
to Animals®.
"We are very excited to have Hartville join the Fairfax group,"
said Prem Watsa, Chairman and CEO of Fairfax. "This acquisition
represents a new phase in our existing relationship with Hartville
through Fairmont Specialty. As a result of the vertical integration
created by this merger, Hartville's pet insurance programs will be
uniquely positioned in the industry to generate sustainable
growth."
"Hartville has worked very closely with Fairmont Specialty since
2006 to provide high-quality pet insurance coverage at a good value
for consumers," said Hartville CEO Dennis Rushovich. "Our existing
partnership will help make this ownership transition completely
seamless for our customers. It also is important to us that we've
found in Fairfax a partner who shares our values."
Fairfax is a financial services holding company which, through
its subsidiaries, is engaged in property and casualty insurance and
reinsurance and investment management.
Contacts: Fairfax Financial Holdings Limited John Varnell Vice
President, Corporate Development (416) 367-4941 Media Contact:
Fairfax Financial Holdings Limited Paul Rivett Vice President,
Operations (416) 367-4941
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