Petcover Group acquires Reach Financial Services Limited

Petcover Group acquires Reach Financial Services Limited

Global Pet Insurance provider, Petcover Group has acquired Reach Financial Services Limited, including their pet and personal lines brand CoverMy, from the Totemic Group.

CoverMy offers an extensive range of niche products across pet insurance and a range of specialist personal lines products such as – Motor Breakdown, Gadget, Travel, Short term car cover and GAP insurance. The acquisition will increase Petcover Groups customer base to well over 140,000 in the UK.

The purchase of Reach Financial Services Limited will add another brand to Petcover’s UK stable and will complement their existing brands, which consists of Julie Andrew Horse Insurance, British Pet Insurance, ExoticDirect, Brooks Braithwaite (Sussex) Limited, and Crowe Livestock Underwriting Services Ltd plus, Petcover Eu Ltd, MGA business. Petcover will bring its many years of insurance knowledge and experience to enhance the already well-established Reach Company.

Petcover Group CEO, Andy Pearce said – “This is another significant purchase for the Petcover Group, it consolidates our position in the UK pet market and enables us to offer additional products to our rapidly growing customer base.

During our last Company Strategic Review, we recognised that our existing customers were asking if we could provide additional products with the same exceptional service, Reach fits the brief perfectly and allows the group to take a significant step in this direction.”

Managing Director, Doug Ford said “Our aim has always been to take our many years of experience and success in the Broker and Pet insurance market as far as possible. This expands our product range and is an exciting opportunity for us to support our customers further.

Looking at the business and the amazing growth we are experiencing with award after award, recognising our hard work and professionalism, we look forward to welcoming the CoverMy team and their customers to the Petcover family.”

Freddie Kingham, Reach Financial Services Operations Director, commented – “Reach has grown at an exceptional rate since the introduction of the CoverMy brand. We have seen year on year growth and expanded our team as well as our portfolio of products to support this. We are all excited to work with the Petcover businesses and look forward to exploring new opportunities and the continued growth of the business. The sale to the Petcover group is a great fit, and one that will be mutually beneficial, with an increase in product lines, distribution, support, and resources all resulting from the wider group.”

Petcover Operates in the UK, Continental Europe, Australia, New Zealand, India & SE Asia providing comprehensive Pet, Equine, Livestock, Exotic and pet business insurance to customers. Plus provides Capacity and Claims service to others in the Pet insurance industry.

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