Strong Organic Revenue Growth
Verisk reported organic constant currency revenue growth of 7.9%, with underwriting growing by 7.7% and claims by 8.3%. Subscription revenues, which comprise 82% of total revenue, grew 9.3%.
Margin Expansion
The company saw organic constant currency adjusted EBITDA growth of 9.7% and total adjusted EBITDA margins at 57.6%, up 220 basis points from the prior year.
AccuLynx Acquisition
Verisk announced a definitive agreement to acquire AccuLynx for $2.35 billion, which is expected to strengthen their property estimating solutions business and enhance network integration capabilities.
Positive Feedback on SuranceBay Acquisition
The strategic acquisition of SuranceBay has received positive feedback from clients and industry analysts, affirming its value in Verisk's suite of services.
Innovative AI Products
Verisk launched several AI-powered solutions, such as the Premium Audit Advisory Service AI and Underwriting Assistant, to increase efficiency and data accuracy, which have been well-received by clients.