Swedish pet insurance company Agria has expanded into two new territories with the acquisition of Irish firm Capstone Financial Services.
Capstone offers insurance for dogs and cats, trading under the brands Petinsure in Ireland and Zoopo in the Netherlands.
Agria was founded in Sweden in 1890, and is now also active in Norway, Denmark, Finland, UK, France, Germany, Ireland, and the Netherlands.
Agnes Fabricius, CEO at Agria Djurförsäkring, explained that there are approximately 455,000 dogs and 325,000 cats in Ireland, but currently only around 10% of them are insured.
He said: “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.”
Michael Harty, managing director at Capstone, added: “This is great news for the Irish pet insurance market and particularly for Petinsure customers. Agria has an unrivalled pedigree and history in caring for pets, and we are really excited to see the positive impact that Agria is going to bring to pet owners and pet insurance customers both here in Ireland and the Netherlands”.