|This article is outdated. (May 2015)|
Insurance Services Office building in Jersey City, headquarters of Verisk Analytics
|Headquarters||Jersey City, New Jersey|
|Frank J. Coyne (Chairman)|
|Revenue||11px US$1.53 billion (2012)|
|#redirect Template:If affirmed||11px US$329 million (2012)|
The firm did not raise any funds for itself in the IPO, which was designed to provide an opportunity for the firm's casualty and property insurer owners to sell some or all of their holdings and to provide a market price for those retaining their shares. The 2009 IPO was priced at $22 per share for 85.25 million shares owned by its shareholders, including American International Group, The Hartford and Travelers, making it the largest since the 2008 IPO for Visa Inc. Among the firm's largest shareholders, Berkshire Hathaway was the only company not to sell any of its stock in the October IPO.
The company’s Insurance Services Office (ISO) subsidiary was created in 1971 through the consolidation of various state, regional, and national rating bureaus for various lines of property/casualty insurance. ISO’s functions include helping insurers in their product development, underwriting, and rating functions. In 2008, Verisk Analytics was established to serve as the parent holding company of ISO. In 2009, Verisk completed its IPO and became a publicly traded company.
Since 2000, the company has acquired about 30 new businesses, which have helped broaden its product offerings. In 2002, it expanded its decision analytics business with the acquisition of AIR Worldwide, a catastrophe modeling firm. In 2004, it entered the healthcare market by acquiring several businesses, through which is offers analytical and reporting systems for health insurers, provider organizations, and self-insured employers. In 2006, the company expanded in the insurance claims sector with the acquisition of Xactware, a provider of estimating software for building repair and construction. In 2010, Verisk acquired 3E Company, a provider of services that help customers comply with government-mandated environmental health and safety requirements.
- Verisk Analytics Incorporation Company Snapshot, CorporateInformation. Accessed September 2, 2013.
- Todd, Susan. "Verisk Analytics of Jersey City raises $1.9B in stock offering", The Star-Ledger, October 8, 2009. Accessed October 8, 2009.
- via Dow Jones Newswires "Verisk Analytics' 85.25M-Share IPO Priced At $22 Each", Wall Street Journal, October 6, 2009. Accessed October 8, 2009.
- Staff. "ISO Acquires Xactware", Insurance Journal, August 14, 2006. Accessed September 2, 2013. "ISO has acquired the assets of Xactware, Inc., a provider of estimation software and services for the property insurance, remodeling and restoration industries."