Verisk Analytics (VRSK) Signs Agreement For Rulebook Buyout
Zacks Investment Research | Dec 03, 2018 09:09PM ET
Verisk Analytics, Inc. (NASDAQ:VRSK) announced yesterday that it has inscribed an agreement to acquire business intelligence and software solutions provider for the London Insurance Market, Rulebook.
The transaction price is fixed at $87 million, which will be funded through cash on hand and existing bank facilities.
Through Rulebook Hub platform, Rulebook possesses a distinct pricing engine utilized for the purpose of internal pricing and underwriting as well as external distribution for the specialty insurance market. It also offers data analytics that provide business intelligence solutions to aid clients in historical, current, and predictive views of business operations.
Mark Anquillare, chief operating officer, Verisk, stated, "Rulebook is a Verisk-like business that furthers our goal of providing leading solutions to the global insurance market, including a comprehensive chain of solutions to specialty insurers for mitigating risk and optimizing total cost of operations."
The transaction is expected to be completed by the fourth quarter of 2018, subject to customary closing conditions.
Shares of Verisk have fared well in a year’s time. The stock has rallied 30% compared with the Zacks Investment Research
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