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Verisk Analytics IPO soars in trading debut
Wednesday, October 07, 2009 11:54 AM


(Source: Associated Press/AP Online)trackingNEW YORK - In its first day of trading Wednesday, shares of insurance data specialist Verisk Analytics Inc. are up $6, or 27 percent, to $28.

The Jersey City, N.J., company raised $1.9 billion from selling 85.3 million shares at $22 each, more than the $19 to $21 per share range that had been expected. It is one of the largest U.S. initial public offerings this year, but none of the offering's proceeds will go to Verisk. Instead, cash from the IPO will go the insurance companies who are selling shares, including American International Group Inc., Hartford Financial Services Group Inc. and Travelers Cos.

Verisk says it is the largest aggregator and provider of actuarial and underwriting data pertaining to U.S. property and casualty insurance risks. In 2008, Verisk's customers included all of the biggest 100 property and casualty insurance providers as well as leading health insurers, mortgage insurers, mortgage lenders and reinsurers.

Its ticker symbol on the Nasdaq exchange will be "VRSK."

A service of YellowBrix, Inc.



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