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Many Pets

Founded in 2011, Many Pets is a rapidly growing digital pet insurer offering innovative and differentiated products in the UK, Sweden and the US.

As of Q2 2022 LTM, Many Pets had ca. GBP 240m in Gross Written Premiums (“GWP”).

Ownership: SEB Private Equity has co-controlling interest and ownership in Many Pets.

Investment rationale

Attractive global pet insurance market with recurring characteristics and strong growth from insurance penetration growing from low levels. Penetration is in turn driven by secular trends of pet ownership among younger generations, increased humanization of pets, better insurance products and surging vet costs. Many Pets has a superior product-market fit with tech-enabled products and outstanding customer satisfaction.