Pet Insurance Consolidation Accelerates: JAB Secures Pumpkin to Solidify Market Dominance

The pet insurance sector continues its remarkable expansion, and the latest strategic move underscores the industry’s momentum. JAB Holding Company has successfully secured a controlling stake in Pumpkin Insurance Services Inc., a premium provider of preventive care and pet insurance solutions. This transaction marks a significant milestone for who owns Pumpkin pet insurance—JAB now holds majority control, while Zoetis, the world’s largest animal health company, maintains a notable minority position and preserves its commercial collaboration.

Strategic Partnership Reshapes Pet Insurance Landscape

Since Pumpkin’s launch by Zoetis in 2020, the platform has grown to cover more than 65,000 pets across the United States. The company partners with veterinarians to deliver integrated wellness solutions and comprehensive accident and illness coverage for cats and dogs. Pumpkin’s insurance offerings span hereditary conditions, behavioral issues, dental care, emergency services, surgical procedures, and alternative therapies such as acupuncture.

JAB’s acquisition signals its aggressive expansion within the pet insurance vertical. Having entered the industry in 2021, JAB has rapidly assembled a formidable portfolio now insuring over 3.3 million pets globally—a figure expected to reach approximately 4 million by year-end 2024. This growth reflects rising consumer adoption of pet insurance as a tool for comprehensive pet healthcare management.

Global Footprint and Financial Trajectory

JAB’s international pet insurance ecosystem encompasses several leading brands: AKC, ASPCA, Figo, Pet Partners, and Pets Plus Us operate across North America, while Agila, Animal Friends, Assur O’Poil, Everypaw, and Pet Protect serve the United Kingdom and European markets.

The financial picture demonstrates robust momentum. JAB’s pet insurance division is projected to generate approximately $1.5 billion in global gross written premium during 2023, with organic expansion anticipated to drive that figure to $2 billion in 2024. This trajectory reflects the industry’s structural tailwinds and increased consumer awareness.

Zoetis Maintains Strategic Involvement

The who owns Pumpkin pet insurance question now has clearer contours: JAB holds the majority stake, ensuring operational control and strategic direction, while Zoetis preserves a meaningful minority interest alongside its ongoing commercial partnership. This arrangement allows Zoetis to maintain support for Pumpkin’s veterinary channel operations and continue backing the brand’s mission to enhance pet care accessibility.

According to Frank Engelen, JAB Senior Partner, the investment underscores the company’s commitment to delivering innovative insurance solutions while building the world’s preeminent pet insurance platform. Pumpkin’s leadership team, led by CEO Alex Douzet, views the partnership as instrumental to realizing the organization’s vision of enabling optimal pet care for all.

Zoetis Executive Vice President Rimma Driscoll emphasized that the company remains devoted to Pumpkin’s core mission—democratizing access to advanced veterinary care. This multi-stakeholder collaboration positions Pumpkin for the next phase of expansion within North America’s dynamic pet insurance market.