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The IHC Group buys 85% stake in pet insurance administration company

The IHC Group has acquired an 85% stake in North Carolina-based pet insurance marketing and administration company PetPartners Inc.

PetPartners President and CEO Stephen Popovich will retire after a transition period. IHC named Rick Faucher president of PetPartners and promoted John Wycoff, formerly director of marketing and information technology, to COO.

IHC will start to underwrite policies that PetPartners sold and renewed through Independence American Insurance Co. later in 2017.

IHC is an insurance organization composed of Independence Holding Co. and its operating subsidiaries.