VetsMediCover to become part of digital broker Insync following completion
Global Risk Partners Limited (GRP), a Brown & Brown company, has entered the pet insurance market for the first time after completing the acquisition of Petsmedicover Limited, trading as VetsMediCover.
VetsMediCover is a pet insurance broker based in Sutton Coldfield, West Midlands. The business was founded in 2016 and is led by Sarah Bascombe. Its primary focus is cat and dog insurance.
Post-completion, the business will become part of Insync Insurance, the fast-growing digital broker which was acquired by GRP in December 2020.
Jon Norman, Managing Director at Insync, said the addition of VetsMediCover to the Insync portfolio is a “very exciting opportunity for us to apply our digital capabilities to a growing brokerage. We’re looking forward to working with the VetsMediCover team to build out our presence in the pet market.”
Jon explained that Sarah Bascombe will retire from the business after a transitionary period, and her senior colleague, Ben Foley, will become Head of Pet and take over the daily management of the business. The rest of the team are all moving across to join Insync.
Sarah Bascombe said: “We are thrilled to be the first acquisition for Insync and, following discussions with Jon and the Insync team, I’m confident that VetsMediCover, our team and our customers will be in excellent hands as it embarks on the next stage of its journey.
“Pet insurance is a sector that lends itself to digitisation, and Insync’s track record for expansion using digital techniques, albeit with the human touch when needed, will be a key factor in building the long-term success of the business.”
The acquisition has received regulatory approval and the consideration is undisclosed.