JERSEY CITY, N.J., December 1, 2015 - Verisk Analytics, Inc. (Nasdaq:VRSK), a leading data analytics provider, today announced its board of directors approved an incremental $300 million of authorization under its share repurchase program.
Scott Stephenson, president and chief executive officer, commented, "Verisk's strong financial position and free cash flow generation enable us to continue to execute on our commitment to growth and innovation through both internal investments and acquisitions, while also returning capital to shareholders through our share repurchase program."
"Our strategy remains to use our capital allocation decisions to drive shareholder value over time, as we have done historically. We also remain committed to meeting our deleveraging targets as articulated to our debt holders at the time of the Wood Mackenzie acquisition," concluded Stephenson.
Under the repurchase program, Verisk may repurchase shares in the open market or as otherwise may be determined by the company, subject to market conditions, business opportunities, and other factors. The company has no obligation to repurchase shares under the program.
The authorization has no expiration date and may be suspended or terminated at any time. Repurchased shares will be recorded as treasury stock but will be available for future reissuance.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy, healthcare, financial services, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com.
Senior Vice President, Treasurer, and Chief Knowledge Officer
Verisk Analytics, Inc.
Director, Investor Relations and Business Analytics
Verisk Analytics, Inc.
MWW Group (for Verisk Analytics)