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Article: Cornhill buys Pet Plan for pounds 32.5m
- Article from:
- The Independent (London, England)
- Article date:
- May 2, 1996
- Author:
CopyrightCopyright 1996 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Patsy Bloom and David Simpson have made a spectacular 64,900
per cent return on the pounds 500 they originally invested in
starting Pet Plan 20 years ago. The business, now the UK's largest
pet insurance company, was yesterday sold to Cornhill Insurance for
pounds 32.5m.
The idea for the Pet Plan business came to Ms Bloom after she
was hit by high vet bills for her pet dog. It has since become a
kind of Bupa for pets, with policy sales of pounds 40m last year.
Animal lovers can insure dogs, cats, even horses. Policies cover
a range of accidents and illnesses including vaccinations,
fractures and other treatments.
Commenting on the sale, Ms Bloom said: "I'm delighted. The
company has reached ...