Nationwide announced a strategic investment in VitusVet, one of the nation's leading providers of mobile solutions for pet owners and veterinary practices. Nationwide will also serve on the VitusVet board of directors. The investment further strengthens the relationship between the two innovative entities that began three years ago. As part of the initial partnership, Nationwide pet insurance customers were given exclusive access to VitusVet app claims submission function. To date, Nationwide pet insurance members have filed more than 635,000 claims through the VitusVet app.
Swiss Re announced that its subsidiary ReAssure Group plc has agreed to acquire the U.K. closed book business of Quilter plc, consisting of Old Mutual Wealth Life Assurance Limited and its subsidiary Old Mutual Wealth Pensions Trustees Limited, including about 300 employees. The total consideration of the transaction is GBP 425 million. The acquisition will add more than 0.2 million customer policies and GBP 12 billion of assets to ReAssure's platform.
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