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The pet insurance industry is experiencing robust growth globally, driven by increased pet ownership, rising veterinary costs, and a growing awareness among pet owners about the financial benefits of insurance. It's becoming a mainstream financial product for pet parents seeking to mitigate unexpected expenses. Innovation in policy offerings, including preventative care coverage, is also a key trend.
Total Assets Under Management (AUM)
Pet Insurance Market Size in United Kingdom
~Approximately £1.5 billion
(8-12% CAGR)
- Increasing pet ownership and humanization of pets.
- Rising veterinary treatment costs.
- Greater awareness of pet insurance benefits among owners.
2.2 billion USD