Verisk, a global data analytics and technology provider, has reported consolidated revenues of $736 million for the fourth quarter of 2024.
This figure was up 8.6% on a consolidated and an organic constant currency (OCC) basis., with solid growth contributions from both underwriting and claims within Insurance.
For the full year 2024, Verisk reported consolidated revenues of $2,882 million, up 7.5% and up 7.1% on an OCC basis.
At the same time, underwriting revenues increased 6.8% in the quarter and 7.0% on an OCC basis. According to the report, this growth was mainly due to the company’s forms, rules and loss cost services and extreme event solutions.
Specialty business and life solutions also contributed to the growth.
Verisk noted that Q4 results for Atmospheric and Environmental Research (AER) – which was a business within Underwriting – prior to its sale in December 2024, are included in the firm’s revenues from dispositions and totalled $3.0 million and $4.0 million for Q4 2024 and 2023, respectively.
In addition, claims revenue grew 13.0% in the quarter and 12.7% on an OCC basis, mainly driven by growth in the firm’s property estimating solutions and anti-fraud solutions.
Claims revenue grew 13.0% in the quarter and 12.7% on an OCC basis. The year-over-year increase in revenues was driven by growth in Verisk’s property estimating solutions and anti-fraud solutions.
Income from continuing operations was $204 million, up 11.6% for Q4 2024. Adjusted EBITDA, a non-GAAP measure, was $398 million, up 9.9%, and up 13.5% on an OCC basis.
For the full year 2024, income from continuing operations was $951 million, up 23.7%, while adjusted EBITDA was $1,576 million, up 9.9%, on a consolidated and OCC basis.
Diluted GAAP earnings per share from continuing operations were $1.44 in Q4, up 15.2%, while diluted adjusted earnings per share from continuing operations, a non-GAAP measure, were $1.61, up 15.0%.
For the full year 2024, diluted EPS attributable to Verisk were $6.66, up 27.6% and diluted adjusted EPS were $6.64, up 16.3%.
Net cash provided by operating activities was $255 million, up 1.2% and free cash flow, a non-GAAP measure, was $200 million, up 2.0% for Q4. For the full year 2024, net cash provided by operating activities was $1,144, up 7.9%, and free cash flow was $920 million, up 10.8%.
Lee Shavel, president and CEO, Verisk, commented: “Verisk delivered strong fourth quarter results capping off another year of strong top line growth and margin improvement. We enter 2025 with strong momentum and are energized by the opportunities arising from our strategic engagement with clients.
“We remain committed to executing our strategy focusing on investing in new innovations and technologies that deliver value to the insurance ecosystem and support growth and returns for Verisk and all our stakeholders.”
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