The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Fairfax to Acquire Pet Insurance Provider Hartville Group

Wednesday, May 15, 2013

Fairfax to Acquire Pet Insurance Provider Hartville Group

17:49 EDT Wednesday, May 15, 2013

TORONTO, ONTARIO--(Marketwired - May 15, 2013) - Fairfax Financial Holdings Limited (TSX:FFH)(TSX:FFH.U) announces the signing of a merger agreement with Hartville Group, Inc., of Canton, Ohio, pursuant to which Hartville will become wholly-owned by Crum & Forster's United States Fire Insurance Company. The transaction, which is subject to customary conditions including regulatory approval, is expected to close early in the third quarter of 2013.

Hartville, one of the oldest and largest pet insurance providers in the U.S., provides pet insurance plans under several brand names, including Hartville Pet Insurance and the Petshealth Care Plan. Hartville also is the exclusive strategic partner for pet insurance with The American Society for the Prevention of Cruelty to Animals®.

"We are very excited to have Hartville join the Fairfax group," said Prem Watsa, Chairman and CEO of Fairfax. "This acquisition represents a new phase in our existing relationship with Hartville through Fairmont Specialty. As a result of the vertical integration created by this merger, Hartville's pet insurance programs will be uniquely positioned in the industry to generate sustainable growth."

"Hartville has worked very closely with Fairmont Specialty since 2006 to provide high-quality pet insurance coverage at a good value for consumers," said Hartville CEO Dennis Rushovich. "Our existing partnership will help make this ownership transition completely seamless for our customers. It also is important to us that we've found in Fairfax a partner who shares our values."

Fairfax is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Fairfax Financial Holdings Limited
John Varnell
Vice President, Corporate Development
(416) 367-4941


Media Contact:
Fairfax Financial Holdings Limited
Paul Rivett
Vice President, Operations
(416) 367-4941

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections