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VERISK ANALYTICS, INC.

(VRSK)
  Report
Delayed Nasdaq  -  04:00 2022-11-29 pm EST
176.93 USD   -0.34%
09:03aOpenly Modernizes Homeowners Insurance with Growth Strategy Driven by Verisk Data
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09:01aOpenly Modernizes Homeowners Insurance with Growth Strategy Driven by Verisk Data
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Insurers may face up to $57 billion in Hurricane Ian bills- Verisk

10/03/2022 | 07:22am EST
Hurricane Ian aftermath in Florida

(Reuters) - Insurers are bracing for a hit of up to $57 billion as they assess the damage to onshore property from Hurricane Ian, risk modeling firm Verisk said on Monday.

The industry projection includes estimated wind, storm surge, and inland flood losses resulting from Ian's landfalls in both Florida and South Carolina, Verisk said.

However, the estimate range, the lower end of which was $42 billion, does not include elements such as losses to the National Flood Insurance Program and any potential impacts of litigation or social inflation that could lead to a total insured industry loss of $60 billion. 

The death toll from Hurricane Ian climbed past 80 on Sunday as embattled residents in Florida and the Carolinas grappled with a recovery expected to cost tens of billions of dollars, and some officials faced criticism over their response to the storm.

Additionally, an estimated 628,285 homes and businesses were still without power in Florida early on Monday after Hurricane Ian crashed across the state last week.

About 1% of the total industry loss will come from the impacts of Ian's South Carolina landfall, Verisk said. 

U.S. property data and analytics company CoreLogic on Friday pegged insured losses for Florida between $28 billion and $47 billion from Hurricane Ian, in what could be the costliest storm for the state since Hurricane Andrew in 1992.  

Recovery is expected to be slow and difficult due to inflation, high interest rates, and labor and materials costs.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Dhanya Ann Thoppil)


ę Reuters 2022
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Financials (USD)
Sales 2022 2 882 M - -
Net income 2022 1 060 M - -
Net Debt 2022 3 148 M - -
P/E ratio 2022 26,6x
Yield 2022 0,69%
Capitalization 27 765 M 27 765 M -
EV / Sales 2022 10,7x
EV / Sales 2023 11,8x
Nbr of Employees 9 367
Free-Float 28,5%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 177,54 $
Average target price 188,47 $
Spread / Average Target 6,15%
EPS Revisions
Managers and Directors
Lee M. Shavel Chief Executive Officer & Director
Mark V. Anquillare Director-Financial Systems
Elizabeth Mann Chief Financial Officer
Bruce E. Hansen Chairman
Nicholas Daffan Chief Information Officer
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