Acquisition to Expand International Footprint of Verisk Insurance Solutions, a Leading Source of Information about Property/Casualty Insurance Risk
JERSEY CITY, N.J., April 14, 2016 - Verisk Analytics, Inc. (Nasdaq:VRSK) today announced the acquisition of Risk Intelligence Ireland, a leading provider of fraud detection, compliance, risk control, and process automation services to the Irish insurance industry.
"Risk Intelligence Ireland has developed valuable tools to help insurers control costs and improve the pricing of risk in a country where insurers are challenged by underwriting losses and a surge in claims costs," said Scott Stephenson, chairman, president, and chief executive officer of Verisk Analytics. "Their talent and experience will build on our core strengths and enhance the ability of our Verisk Insurance Solutions business to serve the international insurance market."
"We're very excited to join Verisk Insurance Solutions, a business that has been serving the insurance industry for more than 40 years," said Ciaran McGaley, chief executive and managing director of Risk Intelligence Ireland. "Verisk's vast data and experience, combined with our leading solutions in Ireland, will improve all of the services that we offer our customers."
Following completion of the transaction, Risk Intelligence Ireland will become part of Verisk Insurance Solutions and will adopt the name Verisk Insurance Solutions - Ireland. Mr. McGaley will be appointed managing director of Verisk Insurance Solutions - Ireland.
About Risk Intelligence Ireland
Risk Intelligence Ireland, or RII, is a leading solutions provider to the Irish general insurance industry, providing value-added services focused on fraud detection, compliance, risk control, and process automation. For over 20 years, RII has been working extensively with the general insurance market to develop specialist products and industrywide services.
About Verisk Insurance Solutions
A Verisk Analytics (Nasdaq:VRSK) business, Verisk Insurance Solutions is a leading source of information about property/casualty insurance risk. Drawing upon vast experience in data management, security, and predictive modeling to serve its clients, Verisk Insurance Solutions includes the industry-leading brands of ISO, AIR Worldwide, and Xactware. In the United States and around the world, Verisk Insurance Solutions helps customers protect people, property, and financial assets. For more information, visit www.verisk.com/insurance (http://www.verisk.com/insurance).
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, healthcare, financial services, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 22 countries and is a member of Standard & Poor's (S&P) 500® Index. In 2015, Forbes magazine named Verisk Analytics to its World's Most Innovative Companies list, and in 2016, to its America's Best Large Employers list. Verisk is one of only 15 out of 500 companies to appear on both lists. For more information, please visit www.verisk.com (http://www.verisk.com).
Contact:
Investor Relations
Eva Huston
Senior Vice President, Treasurer, and Chief Knowledge Officer
Verisk Analytics, Inc.
201-469-2142
eva.huston@verisk.com (mailto:eva.huston@verisk.com)
David Cohen
Director, Investor Relations and Business Analytics
Verisk Analytics, Inc.
201-469-2174
david.e.cohen@verisk.com (mailto:david.e.cohen@verisk.com)
Media
Rich Tauberman
MWW Group (for Verisk Analytics)
202-600-4546
rtauberman@mww.com (mailto:rtauberman@mww.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Verisk Analytics Inc. via Globenewswire
