Welcome to our dedicated page for Verisk Analytics news (Ticker: VRSK), a resource for investors and traders seeking the latest updates and insights on Verisk Analytics stock.
Verisk Analytics (VRSK) delivers data-driven solutions for risk assessment and operational optimization across insurance, energy, and financial sectors. This news hub provides investors and professionals with authoritative updates on corporate developments, strategic initiatives, and technological advancements.
Access real-time announcements including earnings reports, partnership agreements, and product innovations. Our curated collection helps stakeholders track regulatory compliance milestones, analytics platform enhancements, and industry leadership changes.
Key updates on predictive modeling breakthroughs, catastrophe risk assessments, and fraud detection technologies. Bookmark this resource for verified information about underwriting tools, claims management systems, and data standardization efforts shaping risk intelligence.
Stay informed through official press releases and third-party analysis. Check back regularly for essential updates impacting insurance markets and enterprise risk strategies worldwide.
Verisk has entered into an agreement with Ford to provide connected car data to insurers in the UK, France, Germany, Italy, and Spain. This partnership will enable insurers to access standardized driving behavior data from Ford vehicles, allowing for improved risk assessment and personalized insurance offerings. The initiative focuses on usage-based insurance, rewarding safe driving with discounts. This expansion in Europe follows a successful collaboration in the United States, augmenting Verisk's capabilities in telematics solutions.
Verisk (Nasdaq: VRSK) has acquired Opta, a premier property intelligence provider in Canada, enhancing its market presence and data-driven services in the region. This strategic acquisition will allow Verisk to integrate Opta's advanced analytics and technology, improving risk management solutions for the insurance and financial sectors. With over a century of expertise, Opta is a leader in property risk intelligence and community fire protection data. The merger positions Verisk to further optimize operational efficiencies and expand its offerings in the insurance ecosystem.
Verisk collaborates with Infosec Institute to enhance cyber risk mitigation for businesses. Insurers utilizing the ISO Cyber Insurance Program can now offer discounts on Infosec's role-guided cybersecurity training. This partnership addresses the growing threat of cybercrime, emphasizing the importance of employee education in preventing data breaches, which can incur substantial costs. The program incorporates comprehensive training resources, including a unique Cybersecurity Culture Survey to assess organizational security attitudes. This initiative represents a significant step in building cyber resilience.
Verisk (Nasdaq: VRSK) has announced the acquisition of Infutor, a leader in identity resolution and consumer intelligence data. This strategic move enhances Verisk's marketing solutions, particularly within the insurance sector. By integrating Infutor with Jornaya, acquired in 2020, the new entity, Verisk Marketing Solutions, aims to provide comprehensive data-driven strategies while prioritizing consumer privacy. Demand for Infutor's services is growing as companies navigate a future without third-party cookies, emphasizing the importance of first-party data enrichment in today's marketing landscape.
Verisk (Nasdaq: VRSK) reported consolidated revenues of $766.0 million for Q4 2021, marking a 7.4% increase year-over-year. However, net income fell 19.5% to $141.9 million, primarily due to a $134.0 million non-cash impairment charge. Adjusted EBITDA rose 9.0% to $375.0 million, while diluted EPS decreased to $0.87 but adjusted EPS increased 15.7% to $1.47. Operating cash flow declined 24.2% to $188.6 million, and free cash flow decreased 41.5% to $103.3 million. The board approved a 6.9% dividend increase to 31 cents per share, effective March 31, 2022.
Verisk (Nasdaq: VRSK) announced a definitive agreement to sell its Verisk Financial Services business to TransUnion (NYSE: TRU) for $515 million in cash.
This strategic move aligns with Verisk's portfolio review to enhance focus on core operations and shareholder value. In 2021, Verisk Financial generated $143 million in revenue and $23 million in adjusted EBITDA. Proceeds from the sale will be returned to shareholders through share repurchases. The transaction is awaiting regulatory approval and is expected to close in Q2 2022.
Verisk (Nasdaq: VRSK) announced the retirement of Scott G. Stephenson as Chairman, President, and CEO, effective after the 2022 Annual Shareholder Meeting. Lee M. Shavel, current CFO, will succeed him as CEO, while Mark V. Anquillare will assume the role of President. Stephenson's tenure saw the company nearly double its annual revenue and triple its market capitalization. Shavel has contributed significantly to the company's financial strategy, while Anquillare has been vital in growing Verisk's insurance vertical.
Verisk Reports Underwriting Loss Amid Rising Non-Catastrophe Losses
Verisk (Nasdaq: VRSK) revealed a $5.6 billion net underwriting loss for U.S. property/casualty insurers in the first nine months of 2021, attributed to a 14.1% increase in personal auto liability losses. The industry's combined ratio worsened to 99.5% from 98.8% year-over-year, while net income after taxes rose to $42.1 billion, driven by premium growth and investment gains. Written premium growth accelerated to 9.4%, reflecting economic recovery. However, challenges persist with rising inflation and climate-related risks impacting the sector.
FAQ
What is the current stock price of Verisk Analytics (VRSK)?
What is the market cap of Verisk Analytics (VRSK)?
