Archive:Verisk Analytics: Difference between revisions
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'''Verisk Analytics, Inc.''' is an American multinational data analytics and risk assessment firm based in [[Jersey City, New Jersey]] | '''Verisk Analytics, Inc.''' is an American multinational data analytics and risk assessment firm based in [[Jersey City, New Jersey]]. The company uses proprietary data sets and industry expertise to provide [[predictive analytics]] and decision support consultations in areas including fraud prevention, [[actuarial science]], insurance coverage, fire protection, catastrophe and weather risk, and data management. | ||
The company was privately held until an [[initial public offering]] on October 6, 2009, which raised $1.9 billion for several of the large insurance companies that were its primary shareholders, making it the largest IPO in the United States for the year.<ref name="TheStar-Ledger2009October8ToddSusan">{{cite news|last1=Todd|first1=Susan|title=Verisk Analytics of Jersey City raises $1.9B in stock offering|url=https://www.nj.com/business/2009/10/verisk_analytics_sells_8525_mi.html|access-date=8 October 2009|agency=New Jersey On-Line LLC|issue=Business|publisher=The Star-Ledger|date=8 October 2009|location=United States|language=en}}</ref> 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.]] In an action described by investment research company [[Morningstar, Inc.|Morningstar]] as a "vote of confidence" in Verisk, [[Berkshire Hathaway]] was the only company among the firm's largest shareholders that did not sell any of its stock in the October 2009 IPO.<ref name="Reuters2009October6WahbaPhil ">{{cite news|last1=Wahba|first1=Phil |title=UPDATE 2-Verisk IPO raises $1.88 bln, prices above range|url=https://www.reuters.com/article/verisk-idUSN0533161120091007|access-date=6 July 2016|agency=Thomson Reuters|issue=Fund News|publisher=Reuters|date=6 October 2009|location=New York, N.Y., United States|language=en}}</ref> | The company was privately held until an [[initial public offering]] on October 6, 2009, which raised $1.9 billion for several of the large insurance companies that were its primary shareholders, making it the largest IPO in the United States for the year.<ref name="TheStar-Ledger2009October8ToddSusan">{{cite news|last1=Todd|first1=Susan|title=Verisk Analytics of Jersey City raises $1.9B in stock offering|url=https://www.nj.com/business/2009/10/verisk_analytics_sells_8525_mi.html|access-date=8 October 2009|agency=New Jersey On-Line LLC|issue=Business|publisher=The Star-Ledger|date=8 October 2009|location=United States|language=en}}</ref> 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.]] In an action described by investment research company [[Morningstar, Inc.|Morningstar]] as a "vote of confidence" in Verisk, [[Berkshire Hathaway]] was the only company among the firm's largest shareholders that did not sell any of its stock in the October 2009 IPO.<ref name="Reuters2009October6WahbaPhil ">{{cite news|last1=Wahba|first1=Phil |title=UPDATE 2-Verisk IPO raises $1.88 bln, prices above range|url=https://www.reuters.com/article/verisk-idUSN0533161120091007|access-date=6 July 2016|agency=Thomson Reuters|issue=Fund News|publisher=Reuters|date=6 October 2009|location=New York, N.Y., United States|language=en}}</ref> | ||