Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Fairfax Financial Holdings will sell its global pet insurance operations to the Reimann family-owned private investment company, JAB Holding, for $1.4 billion.
- JAB, which aims to bolster its pet insurance portfolio with the deal, is known for investing in doughnut maker Krispy Kreme Inc (NASDAQ:DNUT).
- Fairfax, the Canadian investment company, will sell its interests in Crum & Forster Pet Insurance Group and Pethealth Inc to JAB’s pet insurance unit for $1.15 billion in cash and $250 million in seller notes.
- Fairfax will also make a $200 million investment in JCP V, JAB’s latest consumer fund, which will include pet insurance as a core part of its portfolio.
- JAB’s combined global pet insurance and ecosystem platform will be estimated to have gross written premiums and pet health services revenues of well over $1.2 billion by 2023, insuring more than 2.1 million pets.
- Crum & Forster Pet insures over 500,000 pets and markets or serves as an underwriter for numerous brands.
- Pethealth provides wellbeing and safety solutions to shelters and pet parents under the 24 Pet brand with over 20 million registered pets.
- According to the Financial Times, the investment comes after the JAB investment vehicle was forced to divest its veterinary clinics in Texas and California to prevent it from forming local monopolies.
- JAB must also give notice to the agency for future clinic acquisitions.
- Photo via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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