Verisk Analytics Stock Price, News & Analysis

Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has scheduled its fourth-quarter and full-year 2024 financial results announcement for Wednesday, February 26, 2025, before market open. The company will host a live audio webcast at 8:30 a.m. ET to discuss financial results and business highlights.

The press release and financial information will be available on the Verisk investor website. Interested parties can participate through the webcast or dial-in numbers: 1-800-715-9871 (U.S./Canada) or 1-646-307-1963 (international). A 30-day replay will be accessible via the investor website and through 1-800-770-2030 using Conference ID #8064444.

Verisk (VRSK) has launched CargoNet® RouteScore API, a new solution to combat rising cargo theft in the U.S., where 2024 losses are projected to be 25% higher than 2023's record levels. The solution generates risk scores from 1-100 for cargo routes across the U.S. and Canada, considering factors like cargo type, value, route details, and theft history at truck stops.

The RouteScore API uses proprietary algorithms and best-in-industry data to provide actionable insights for cargo security. High-risk scores can trigger enhanced security measures such as tracking devices, driver teams, or advanced parking arrangements. The solution is available in API format for integration with Transportation Management Systems and other platforms, including supply chain risk management, fintech, insurtech, and telematics systems.

Verisk (VRSK) estimates that insured industry losses from the Palisades and Eaton fires will total between USD 28 billion and USD 35 billion. The Palisades fire losses are estimated at USD 20-25 billion, while the Eaton fire losses range from USD 8-10 billion. Most losses affect residential properties.

The Palisades fire impacted areas with some of the highest property values nationally, including significant contents exposure like jewelry and fine art. The estimate includes losses to residential, commercial, and industrial properties and automobiles, accounting for demand surge, debris removal, and insured take-up rates.

Notably, Verisk's petition for its U.S. Wildfire Model review has been granted by the California Department of Insurance, marking a significant step in implementing catastrophe modeling for insurance availability across California.

Verisk's Wildfire Model has become the first catastrophe model to be reviewed for insurance ratemaking in California, as per the newly-announced regulation from the California Department of Insurance. This regulation aims to tackle property insurance availability issues by including catastrophe models in ratemaking processes. Verisk’s model, which assesses wildfire risks, is intended to help insurers better evaluate and price wildfire coverage, potentially leading to more accurate rates and improved availability of insurance in wildfire-prone areas. This move could significantly impact the insurance market in California, aiding both insurers and policyholders in managing wildfire risks more effectively.

Verisk (Nasdaq: VRSK) has sold its Atmospheric and Environmental Research (AER) business to JANUS Research Group, with D.A. Davidson serving as the exclusive financial advisor. AER, founded in 1977, provides science-based solutions and actionable intelligence related to weather, climate, and space-based risks to global corporations, universities, and government agencies including the DoD, NASA, and NOAA.

The merger aims to combine AER's scientific expertise with JANUS's capabilities in data science and AI/ML solutions to enhance mission-critical solution delivery. AER's President Guy Seeley emphasized their commitment to advancing scientific understanding and operational transitions for customers.

Lockton Re has partnered with Verisk (Nasdaq: VRSK) to develop new agricultural (re)insurance products using Verisk's U.S. crop risk modeling solutions. The collaboration will leverage Verisk's Multiple Peril Crop Insurance and Crop Hail Model to assess climate change impacts on crop production and potential losses. The models provide comprehensive insights through 10,000-year stochastic event catalogs, considering factors like crop genetics, yields, prices, weather data, and policy conditions. This initiative aims to advance risk management in the U.S. crop insurance market, where indexed insurance products represented 12.4% of MPCI premium in 2023.

Verisk (Nasdaq: VRSK) has launched LOCATION® Property Protection Score™ (PPS), a new solution providing address-level fire protection scoring for insurers. Building upon their existing LOCATION® Public Protection Classification® (PPC) system, used by over 250 insurers, PPS enhances fire protection assessment with features like actual drive times based on traffic patterns, property-specific characteristics, and detailed water distance measurements. This development comes as U.S. fire departments responded to approximately 1.5 million fires in 2022, causing an estimated $18 billion in property damage, with house structure fires occurring every 88 seconds.

Baron Capital hosted its 31st Annual Baron Investment Conference at the Metropolitan Opera House, attracting over 5,000 shareholders and clients. The event featured presentations from CEOs of key portfolio companies, including MSCI, Verisk Analytics, Red Rock Resorts, and SpaceX. The conference theme was 'building legacy,' focusing on investments that enable middle-class Americans to participate in the country's growth. The event included entertainment performances by Michael Bublé, Carrie Underwood, and others, plus Tesla Model S vehicles as door prizes and displays of Tesla's Optimus robot.

Verisk (VRSK) reported strong Q3 2024 financial results with consolidated revenues of $725 million, up 7.0% year-over-year. Income from continuing operations increased 17.4% to $220 million, while adjusted EBITDA grew 9.4% to $401 million. Diluted EPS rose 19.4% to $1.54, and diluted adjusted EPS increased 9.9% to $1.67. The company demonstrated robust cash flow with operating cash flow up 18.4% to $296 million. Verisk completed a $400 million accelerated share repurchase program and increased its quarterly dividend by 15% to 39 cents per share.