Phiwath Jittamas/iStock via Getty Images The US pet insurance market once again expanded by more than 10% in 2025, a feat that it has achieved every year since at least 2018. The market recorded an 11% year-over-year increase in net premiums earned last year, rising to an industry record $3.59 billion, according to an analysis by S&P Global Market Intelligence. That said, the 2025 total reflects a...
Phiwath Jittamas/iStock via Getty Images The US pet insurance market once again expanded by more than 10% in 2025, a feat that it has achieved every year since at least 2018. The market recorded an 11% year-over-year increase in net premiums earned last year, rising to an industry record $3.59 billion, according to an analysis by S&P Global Market Intelligence. That said, the 2025 total reflects a slowdown in the pace of growth from the prior year when net premiums earned soared 26.6% to $3.23 billion in 2024. The pet insurance industry's net loss ratio, which has remained almost flat since 2017, improved modestly to 74.2% in 2025 from 76.1% in the prior year. Pet insurance was broken out as its own business line for the first time in statutory filings for 2024 following changes made by the National Association of Insurance Commissioners, making availability of the data relatively new. US pet insurance annual net premiums earned since 2017 Top of the list A majority of the biggest pet insurers in the US also saw double-digit increases in direct premiums written in 2025. Trupanion Inc. ( TRUP ) was the top underwriter of pet insurance business in the US in 2025, as it recorded $1.22 billion in direct premiums written. That was up about 11.7% from $1.09 billion in direct premiums written in 2024. The leading pet insurer also booked a direct incurred net loss ratio of 69.8%. Nationwide Insurance Co.'s direct premiums written declined by about 6.4%, falling to $956.3 million in 2025 from $1.02 billion in 2024. Nationwide, which still ranked as the second-largest underwriter of pet insurance last year, has been pulling back its presence in the business line. JAB Holdings BV ranked third, but recorded the largest year-over-year increase in direct pet insurance premiums written at 79.9%. Lemonade Inc. ( LMND ) also reported significant growth with $441.2 million in 2025 direct premiums, up 54.7% from $285.2 million a year earlier. Historical industrywide pet insurance data...
Energy Aspects Global Gas Head Livia Gallarati discusses energy markets amid the fragile ceasefire between the US and Iran. Speaking on Bloomberg Television, she says both oil and gas facilities will take time to ramp up. "Anything new is probably not going to be coming into the Strait [of Hormuz]. Shipowners don't have that risk appetite for now," Gallarati says. Asked whether prices will fall ba...
Energy Aspects Global Gas Head Livia Gallarati discusses energy markets amid the fragile ceasefire between the US and Iran. Speaking on Bloomberg Television, she says both oil and gas facilities will take time to ramp up. "Anything new is probably not going to be coming into the Strait [of Hormuz]. Shipowners don't have that risk appetite for now," Gallarati says. Asked whether prices will fall back to pre-war levels, she says: "I wouldn't put my money on that." (Source: Bloomberg)
As the U.S.-Israel-Iran conflict has roiled global markets in recent weeks, China has appeared relatively insulated from the energy-driven shock that is reshaping asset pricing worldwide. The most immediate transmission channel is oil. With Brent crude having surged from around $70 per barrel to nearly $120 at its peak before pulling back after ceasefire new s, the inflationary impact has rippled ...
As the U.S.-Israel-Iran conflict has roiled global markets in recent weeks, China has appeared relatively insulated from the energy-driven shock that is reshaping asset pricing worldwide. The most immediate transmission channel is oil. With Brent crude having surged from around $70 per barrel to nearly $120 at its peak before pulling back after ceasefire new s, the inflationary impact has rippled across economies. For China, while exposure to Middle Eastern crude is comparatively limited, the effect has still been felt domestically. Since March 9, gasoline and diesel prices have been raised repeatedly.
The flood of cheap copies of Novo Nordisk A/S ’ blockbuster drug semaglutide in India is already reshaping the country’s fast-growing obesity market, cutting into Eli Lilly & Co .’s early lead and offering a first real test of how Novo may fare as its patents expire worldwide. Within days of dozens of generics hitting the Indian market, semaglutide’s share in the country’s GLP-1 segment jumped to ...
The flood of cheap copies of Novo Nordisk A/S ’ blockbuster drug semaglutide in India is already reshaping the country’s fast-growing obesity market, cutting into Eli Lilly & Co .’s early lead and offering a first real test of how Novo may fare as its patents expire worldwide. Within days of dozens of generics hitting the Indian market, semaglutide’s share in the country’s GLP-1 segment jumped to 33% in March from 25% a month earlier, according to researcher Pharmarack. That gain came at the expense of tirzepatide — the active ingredient in Lilly’s Mounjaro — whose share fell to 64% from 71%, Pharmarack said. The data, which counts sales of non-branded versions between March 21-31, marks the first meaningful snapshot of demand after India opened the door to non-patented semaglutide. While Canada was the first country to lose semaglutide patent protection in January, regulators there haven’t approved any generics so far. It also offers an early sign of the rush to generics Lilly will face globally as semaglutide approaches patent cliffs elsewhere. The price war and surge in demand are being closely watched as patents for the blockbuster treatment expire in major emerging markets this year, with India a key test case for how quickly generics can erode a branded drug’s dominance. Mounjaro sales in March dropped to 1.14 billion rupees ($12.3 million) in March from 1.35 billion rupees a month earlier, Pharmarack data show. Lilly will lose exclusivity on the drug next decade. This is a “gold rush phase” as generics come on board, said Sheetal Sapale, vice president of commercial at Pharmarack. Though Mounjaro still dominates the market in India, it’s taken a “major hit” following the launch of semaglutide copies, she said. Representatives for Novo Nordisk and Eli Lilly didn’t immediately respond to requests from Bloomberg News for comment. Torrent Pharmaceuticals Ltd. has emerged as the biggest local player in semaglutide after Novo, trumping rivals including Sun Pharmace...