Verisk to Acquire Rulebook

Verisk, a data analytics provider, has signed a definitive agreement to acquire Rulebook, a provider of business intelligence and software solutions for the London Insurance Market.

Rulebook’s proprietary, uniquely distinctive pricing engine can be used for internal pricing and underwriting as well as external distribution for the specialty insurance market through its Rulebook Hub platform. Rulebook also has a data analytics offering that develops business intelligence solutions for clients to enable historical, current, and predictive views of business operations.

Rulebook’s pricing engine is used by some of the leading carriers in the London specialty insurance market to build underwriting rules for complex specialty insurance products through a simple, easy-to-use web-based platform. Through its platform, Rulebook provides clients with greater accuracy and better control over the pricing and distribution process, thus facilitating consistency and improving regulatory reporting and compliance.

“Rulebook is a Verisk-like business that furthers our goal of providing leading solutions to the global insurance market, including a comprehensive chain of solutions to specialty insurers for mitigating risk and optimizing total cost of operations.” – Verisk COO, Mark Anquillare.

The purchase price is $87m in cash, funded through cash on hand and existing bank facilities, subject to typical closing adjustments. The transaction is expected to be accretive to 2019 adjusted EPS.