Latest / The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions
Private Equity Is Buying Up Pet Insurance Agencies
In this episode, Lucas and Luna examine a quiet but fast-growing corner of private equity: pet insurance agencies. Underwriting losses in the core pet insurance business have pushed carriers toward distribution, while PE firms see sticky revenue, high margins, and fragmentation as irresistible. Lucas breaks down the economics: the average pet insurance premium is around $50 a month, but agencies earn 20–30% first-year commissions and 10–15% renewals. With only about 4% of U.S. pets insured today, compared to 25% in the U.K., the addressable market is enormous. Luna offers a real-world…
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