Trade Verisk Analytics
Versec Analytics, Inc. is an American data and risk analytics company based in Jersey City, New Jersey, with clients in the insurance, natural resources, financial services, government and risk management sectors. The company uses special data sets and industry expertise to provide predictive analytics and advice to support decision-making in areas including fraud prevention, actuarial science, insurance coverage, fire protection, disaster risk, weather and data management. The company was held privately until October 6, 2009 IPO, which raised $1.9 billion for a number of large insurance companies that were major shareholders, making it the largest IPO in the United States for 2009. The company did not raise any funds for itself in the IPO, which was intended to provide an opportunity for loss and property insurance holders in the company to sell some or all of their holdings and provide a market price for those who hold their shares. The 2009 IPO price was $22 per share for 85.25 million shares owned by its shareholders, including American International Group, Hartford and Larassignment, making it the largest since visa's initial public offering in 2008. In a move described by investment research firm Morningstar as a "vote of confidence" in Verisque, Berkshire Hathaway was the only company among the company's largest shareholders that did not sell any of its shares in the IPO in October 2009.