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“This humanization of pets and veterinary care is evolving at 100 miles an hour and you need to have the best real-time data to price insurance policies not only to gain market share but also to grow profitably,” David Bell, a senior partner at JAB, told Bloomberg. (Credit: Przemyslaw Iciak/Adobe Stock) “This humanization of pets and veterinary care is evolving at 100 miles an hour and you need to have the best real-time data to price insurance policies not only to gain market share but also to grow profitably,” David Bell, a senior partner at JAB, told Bloomberg. (Credit: Przemyslaw Iciak/Adobe Stock)

(Bloomberg) — JAB Holding Co. is acquiring two large pet insurers in the U.K. and Chicago as the investment firm seeks to become a dominant player in the fast-growing animal health insurance industry.

The company said it has taken a majority stake in Cardif Pinnacle, a pet insurance-focused subsidiary of BNP Paribas SA, and is buying Chicago-based Figo Pet Insurance LLC, beginning a series of investments in the sector. The prices weren’t disclosed.

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