RTTNews | Oct 30, 2020 09:58AM EDT

09:58 Friday, October 30, 2020 (RTTNews.com) - Shares of Trupanion Inc. (TRUP) are gaining over 13% on Friday morning after its third-quarter revenues trumped Wall Street estimates. Trupanion also announced a distribution agreement with Aflac Inc. (AFL).

TRUP is currently trading at $81.46, up $9.40 or 13.04%, on the Nasdaq.

Trupanion, a provider of medical insurance for cats and dogs, reported third-quarter revenues of $130.1 million, an increase of 31% from $99.28 million last year. Analysts' polled by Thomson Reuters estimated revenues of $126.53 million.

Aflac and Trupanion entered into an exclusive alliance agreement to sell pet insurance in worksites across the U.S. The companies also have agreed to explore potential opportunities in Japan's growing pet insurance market. In connection with the alliance agreement, Aflac will purchase an approximate 9% stake in Trupanion to further drive alignment.

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