Global insurer MetLife has agreed to acquire PetFirst Healthcare, an Indiana-based pet insurance program administrator, Insurance Journal reported. PetFirst currently distributes its pet insurance products through animal welfare agencies, direct-to-consumer channels and employers. MetLife said the acquisition will enable it to offer a new employee benefit that is growing in popularity. Since 2014, the annual growth rate for the pet insurance industry has been more than 20%, according to the insurer. The market is under-penetrated, however. Just 2% of the estimated 85 million pet-owner families having coverage, according to the North American Pet Health Insurance Association.