The global pet insurance market was worth around 21 billion US dollars last year and is expected to reach close to 80 billion by 2033. That is enormous growth, with forecasts of more than 17% a year. When a market grows that quickly, the world's biggest insurance companies pay attention. And that matters if you are sitting in the UK wondering what is going to happen to your dog or cat's renewal.
Why big insurers are interested
The drivers behind the global growth are the same ones UK owners already recognise. People increasingly treat pets as family members, vet costs are rising, and more owners are looking for proper cover rather than the most basic accident-only policy.
That shift towards more comprehensive protection is one reason the market is attracting global players. If you are unsure what the different policy types actually mean, our guide to types of pet insurance cover explains the basics without the jargon.
Big companies are already here
This is not just something happening somewhere else. Allianz is already deeply embedded in the UK market through Petplan, one of the best-known pet insurance brands in the country. JAB Holdings, a consumer group many pet owners will never have heard of, owns Everypaw and Helpucover in the UK and insures close to a million pets across the UK and Europe.
In other words, big corporate structures are already sitting behind brands UK pet owners use every day.
The brand name is not always the whole story
Zurich, through its Cover-More arm, sells pet insurance in the UK under the Insure Your Paws brand. That is a useful reminder that the brand you recognise is not always the company taking on the risk behind the scenes.
That does not automatically make a policy better or worse. It just means it is worth looking beyond the logo. Our insurer reviews can help you see more clearly who is behind the brands you are comparing and how owners talk about their claims experience.
Pet insurance as a workplace benefit
One trend worth watching is pet insurance through employers. There has reportedly been a 57% jump in companies offering pet insurance as a workplace benefit in 2025. That has been more visible in some markets than others, but it could become more common in the UK too.
If that happens, pet insurance may start appearing alongside health cash plans, dental cover and other employee benefits. It will still need careful reading, but it could give some owners another route into cover.
Why it is not all good news
The rosy version of this story is more competition, more choice and better products. The harder version is that the industry is under real pressure from rising vet costs. Some insurers have already pulled back where the numbers no longer work.
One major US insurer cancelled around 100,000 policies because the product had become financially unsustainable. ManyPets, which UK readers will recognise, pulled out of the US market in late 2024. Rising claims costs are squeezing insurers globally, which is part of why co-insurance and co-payments are becoming more common.
What this means for UK owners
For UK pet owners, the takeaway is twofold. More competition is generally good news because it can drive better products and more choice. But global giants also bring more complexity, more brands that are connected underneath, and more pressure on smaller specialist insurers.
That makes understanding the policy more important than recognising the brand. If ongoing conditions matter to you, read our lifetime cover guide before comparing quotes.
Look past the logo
The practical advice is simple: look beyond the brand name and focus on what the policy actually covers. Check the vet fee limit, exclusions, excess, co-payments and what happens if your pet develops an ongoing condition.
If you are getting quotes, our guide to what information you need for a pet insurance quote will help you prepare. And if you want to start from the basics, read what pet insurance actually covers before choosing anything.
This article is for general information only and does not constitute advice of any kind.