Pet Insurance Stock Nabbed
ANAHEIM — An Arizona insurance firm said Monday it has agreed to purchase up to $4 million of nonvoting preferred stock in Anaheim-based Veterinary Pet Insurance, which issues insurance policies covering dogs and cats.
“Pet insurance is a relatively young industry that has seen tremendous growth the last couple of years,” said Mike Miller, vice president and treasurer of Scottsdale Insurance Co., which is acquiring the preferred stock.
Scottsdale is a member of the Nationwide Insurance Enterprise of Columbus, Ohio. Another Nationwide subsidiary, National Casualty Co., underwrites Veterinary Pet Insurance’s policies outside California.
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