Local Trupanion pet insurance files for IPO
News from The Seattle Times:

Originally published June 16, 2014 at 4:42 PM | Page modified June 16, 2014 at 6:12 PM

Seattle-based pet-insurance provider Trupanion filed Monday for a $ 75 million initial public offering, according to Securities and Exchange Commission (SEC) documents.

The offering is subject to change, and the number of shares to be sold and price range has yet to be determined. The company said it is an “emerging growth company” as defined in The Jumpstart Our Business Startups Act of 2012, and therefore is able to report abbreviated financial information.

Founded in Canada in 1998, Trupanion moved its headquarters to Seattle in 2007. As of March 31, the company covered 181,634 cats and dogs in the United States, Canada and Puerto Rico. It has 335 employees in the United States and 13 employees in Canada.

The majority of the company’s revenue comes from monthly premiums for the animals. The cost of insuring an animal varies based on age, breed, gender, where the animal lives and whether the animal has been spayed/neutered. The average monthly premium for a cat is $ 26, and $ 40 for a dog, which represents 85 percent of its policies.

With a database containing 14 years of pet health records from 18,000 veterinary offices, the company says it has a unique insight into how to manage its business, accurately price its medical plans, incre…………… continues on The Seattle Times

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