Transaction

Clearwater advises Petinsure.ie and Zoopo on its sale to Agria Djurförsäkring

Transaction

Petinsure sold to Agria

Sell-side

Undisclosed

Role

Adviser to Petinsure.ie and Zoopo on its sale to Agria Djurförsäkring

Sector

Financial Services

Region

Ireland

Clearwater has advised Petinsure.ie and Zoopo on its sale to leading European pet insurance provider, Agria Djurförsäkring.

Founded in 2008 and headquartered in Cork, Petinsure.ie is a technology-focused managing general agent, specialising in marketing, sales, and administration of pet insurance products for dogs and cats in Ireland. The Zoopo app and website platform operate in the Netherlands facilitating a younger dynamic of pet owners to manage all their pet’s needs and is seen as a platform for broader European expansion.

Both brands operate an agile business philosophy using flexible proprietary systems to maximise intellectual property value, cost-efficient digital customer acquisition and forward-thinking operational changes around policy wording, underwriting criteria, and regulatory reporting.

Agria was founded by animal owners in Sweden in 1890 and is now the market leading pet insurance provider with a 60% market share in Sweden. Agria has a presence in the Nordics, UK, France, Germany and following this transaction Ireland, and the Netherlands. In addition to pet insurance, Agria provides a digital veterinary service that offers video consultations to pet owners through the subsidiary Agria Vet Guide. Agria employs 500 people with premium income for 2021 of €513m.

The acquisition of Petinsure.ie to the Agria group facilitates an immediate commercial footprint in the Irish pet insurance market. Agria will strive to further develop both Petinsure.ie and Zoopo, with a view to ultimately increasing the number of insured pets in Ireland and across Europe.

image 59

We would like to extend our gratitude to Clearwater. John Curtin and Michael Quinlivan were an incredibly steady hand throughout the transaction. Their “always on” mentality was as impressive as it was reassuring during the process. The highest compliment I could give Clearwater is, with the benefit of hindsight, we would use them again.

Michael Harty, Managing Director, Petinsure.ie and Zoopo
image 59

I see huge potential to increase the level of insured pets in Europe and I am pleased to accelerate our international growth strategy by adding Ireland and the Netherlands to our operations. We have an ambitious growth plan and Capstone is a profitable and well-functioning company that fits perfectly into our business portfolio. Our overall mission is to create security for pets and peace of mind for their owners by making it possible to access qualified veterinary care treatment when needed.

Agnes Fabricius, CEO, Agria Djurförsäkring

It has been a pleasure working with Michael, Marie and the entire Petinsure.ie and Zoopo teams. Both companies form a strong Irish-based success story and a highly complementary addition to Agria which adds to their footprint and growth strategy across Europe. We look forward to seeing what the combined businesses can achieve in the future.

John Curtin, Partner, Clearwater

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