JAB Holding Company (JAB) has acquired Pumpkin Insurance Services (Pumpkin), a pet insurance provider, from its parent company, Zoetis (an animal healthcare company), for an undisclosed amount. However, Zoetis will maintain a significant minority stake in Pumpkin and will continue with its existing commercial partnerships with the latter.

Pumpkin, launched in April 2020, offers pet insurance and preventive care services. It serves more than 65,000 pets across all 50 states in the US, and its policies are underwritten by the United States Fire Insurance Company.

JAB forayed into the pet insurance industry in 2021. Its portfolio of companies comprises several leading brands, including American Kennel Club (AKC) Pet Insurance, Figo, Pet Partners, and Pets Plus Us in the US and Canada and Agila, Animal Friends, Assur O’Poil, Everypaw, and Pet Protect in the UK and Europe. 

JAB currently provides insurance coverage for over 3.3 million pets and aims to insure nearly four million pets by the end of the year. In addition, the company projects to generate gross written premiums of USD 1.5 billion in 2023 and USD 2.0 billion by 2024 through organic growth.