{"id":21780,"date":"2024-05-02T06:32:49","date_gmt":"2024-05-02T06:32:49","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=772379"},"modified":"2024-05-02T06:32:49","modified_gmt":"2024-05-02T06:32:49","slug":"verisks-first-quarter-profit-beats-on-insurance-focused-analytics-demand","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/05\/02\/verisks-first-quarter-profit-beats-on-insurance-focused-analytics-demand\/","title":{"rendered":"Verisk\u2019s First-Quarter Profit Beats on Insurance-Focused Analytics Demand"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/img\/social\/opengraph\/ij-social-default-1200x630.png\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/national\/2024\/05\/02\/772379.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/national\/2024\/05\/02\/772379.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"tr-story-p1\">Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&amp;C) insurers to assess underwriting risks.<\/p>\n<p>WHY IT\u2019S IMPORTANT<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"profit-loss\" data-revive-companies=\"verisk\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>P&amp;C insurers\u2019 earnings have been hit by higher catastrophe losses in recent years due to extreme weather events around the world, prompting them to spend more on analytics that help determine policy risks.<\/p>\n<p>Global insured losses from natural catastrophes in the first quarter were estimated to be $20 billion, heavily driven by storm activity in the United States, according to a report by reinsurance broker Gallagher Re.<\/p>\n<p>CONTEXT<\/p>\n<p>Verisk now caters primarily to the insurance industry after divesting its specialized markets and financial services businesses in March 2022 and April 2022, respectively.<\/p>\n<p>Catastrophe risk modeling offered by the company assesses the likelihood and severity of loss from both natural catastrophes such as earthquakes, hurricanes and floods, as well as man-made disasters globally.<\/p>\n<p>BY THE NUMBERS<\/p>\n<div class=\"bzn bzn-sized bzn-intext-2\">\n<ins data-revive-zoneid=\"162\" data-revive-topics=\"profit-loss\" data-revive-companies=\"verisk\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>On an adjusted basis, Verisk earned $1.63 per share in the first quarter, beating analysts\u2019 estimates of $1.53, according to LSEG data.<\/p>\n<p>The company\u2019s consolidated revenue rose 8% to $704 million.<\/p>\n<p>Underwriting revenue increased 8.2%, while claims revenue climbed 7.6% on a reported basis.<\/p>\n<p>MARKET REACTION<\/p>\n<p>The analytics provider\u2019s shares rose 5% in light premarket trading. The stock has fallen nearly 9% so far this year, underperforming a 5.6% gain in the benchmark S&amp;P 500 index <span id=\"x2\" class=\"tr-ric\">.SPX<\/span>.<\/p>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/profit-loss\/\" class=\"btn btn-sm btn-primary tagtag\">Profit Loss<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"772379\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>Interested in <em>Profit Loss<\/em>?<\/h4>\n<p>Get automatic alerts for this topic.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&amp;C) insurers to assess underwriting risks. WHY IT\u2019S&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":21781,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[751,338,2,1,752],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/05\/verisks-first-quarter-profit-beats-on-insurance-focused-analytics-demand.png","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21780"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21780"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21781"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}