Marks & Spencer is moving into the rapidly expanding pet insurance market by launching pet policies in its 310 British stores.
The financial services arm of the food retailer is looking to capitalise on its band of pet-owning shoppers with its own-brand pet insurance.
M&S is keen to gain a head start in an increasingly competitive market, worth over £160m a year. The sector now ranks as the third largest insurance sector, behind car and home cover.
M&S is keen on forging closer links between its stores and financial services division by selling insurance in-store. Earlier this year the retailer promoted travel insurance alongside its holiday-wear.
A spokesman said: "We'll be looking at building the presence of it through the stores."
In line with the strategy M&S plans to place pet insurance beside its own-brand pet food. The retailer has also suggested that it may promote insurance on its pet products.
The new policy will be competing against 60 insurers, who are vying for prominence in the increasingly proliferating market.
