U.S. Pet Insurance Direct Premiums Written Hit Record High In Q1'26

Insurers wrote $1.53 billion in direct pet insurance premiums in the period, reflecting an increase from $1.31 billion in the same quarter last year and from $1.47 billion in the last three months of 2025. Trupanion was the largest underwriter of pet insurance in the first quarter, with $335.5 million in direct premiums written. The pet insurance industry's average direct loss ratio for the first quarter came in at 66.8%, which was the same as the prior quarter and a decrease from a loss ratio of 71.6% in the first quarter of 2025.

Business is booming for US pet insurers, with direct premiums written in the first quarter hitting an all-time quarterly high for the industry.