Munich Re Digital Partners has sold Digital Edge Insurance Company to pet insurance unicorn ManyPets. Subject to regulatory approval, the announcement comes as ManyPets forges ahead with its expansion into the US market.
Steve Long, CEO of ManyPets US said, “Our latest investment marks the next stage of growth in the US market and provides an increased level of flexibility as we expand our footprint and evolve our proposition at speed.
“The growth we have achieved in just 18 months is phenomenal and testament to our model which we’ve seen take off in the UK and Sweden. The addition of Digital Edge’s coverage will allow us to continue to deliver against our ambitious growth plans to reach more pets across the states.”
The acquisition will enable the company to underwrite its own policies and capitalise on its recent growth.