21 August 2017Insurance

Verisk Analytics unveils $250m Sequel acquisition

Data analytics provider Verisk Analytics said on Aug. 21 that it has signed a definitive agreement to acquire London-based software provider Sequel from HgCapital and other Sequel shareholders for a purchase price of £250 million.

The acquisition will further expand Verisk's comprehensive offerings to the global complex commercial and specialty insurance industry, enabling integrated global data analytics through a specialized end-to-end workflow solution, according to the statement.

"Sequel's strong position in the London insurance market will allow Verisk to build on our footprint in the UK, reinforce our deep long-term commitment to a strategic market, and expand our customer sets in global insurance markets," said Mark Anquillare, chief operating officer of Verisk Analytics.

"This supports our vision to deeply integrate into our customers' workflows and adds to our unique data assets, deep domain expertise, and steady stream of first-to-market innovations."

Scott Stephenson, chairman, president, and CEO of Verisk Analytics, added: "Sequel and its unique software tools will be a valuable addition to Verisk Analytics as we develop new ways to innovate with our customers around the world," added Scott Stephenson, chairman, president, and chief executive officer of Verisk Analytics.

The transaction is expected to be neutral to 2017 adjusted earnings per share and accretive to 2018 adjusted earnings per share. Sequel had revenue and earnings before interest, depreciation and amortization (EBITDA) of £26 million and £12 million, respectively, for the year ended June 30, 2017. The transaction is expected to close in third-quarter 2017, subject to the completion of customary closing conditions.

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Today’s stories

Willis Towers Watson announces new chief financial officer

Munich Re Syndicate launches new cyber insurance cover for oil and gas sector

Pricing pressure weighs on global reinsurers’ H1 results

Hiscox partners with tech start-up in social media project

A Hurricane Andrew repeat would cost $56 bn in the US: AIR

Lower underwriting profit weighs on Dubai’s International General Insurance's H1 results

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
28 February 2017   Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired an Indian data solutions company Fintellix.
Insurance
24 August 2017   Data analytics provider Verisk Analytics said on Aug. 24 that it has signed a definitive agreement to acquire risk insight provider LCI.
Insurance
10 November 2017   Data analytics provider Verisk has acquired Rebmark Legal Solutions, a provider of injury claims solutions based in Sheffield, England.