Figures are a wake up call for pet owners of the importance of pet insurance at times of belt tightening. Gideon Ingham, Head of Insurance for ASDA Financial Services comments on research that shows vets is the most profitable business category in Britain.
Vets are coining it in. According to recent research by information group CCH, vets are the most profitable business category in Britain, with a 37% return on capital per year over the past two years.
Head of Insurance for ASDA Financial Services, Gideon Ingham said: “These figures are a wake up call for all pet owners of the importance of pet insurance especially at times of belt tightening. Gone are the days when animal lovers only visited the vet for tablets, neutering and putting pets to sleep, but more about care that you’d associate with humans including heart surgery, cancer care and alternative medicines. This sort of care is not cheap and is a major reason why vets lead the way in profit.
“What concerns me is that independent research suggests that less than a quarter of pets are insured. Of that more dogs are insured than cats. As almost three quarters of pets are dogs then you wouldn’t want to be a poorly cat in the UK at the moment. At this time of credit crunch, with no pet insurance and the prospect of a sizeable vet bill, these are costs that people just can’t afford at the moment.”