Verisk expands residential insurance push with $2.4 billion AccuLynx deal
The all-cash deal could allow Verisk to simplify interactions between insurers and contractors, which it says will speed up claims and lower expenses for policyholders.
The deal also highlights growing interest in home repair companies, as severe weather and rising repair costs pressure both insurers and homeowners. Roofing is one of the most expensive components of property insurance.
The acquisition, scheduled to close by the end of the third quarter, is expected to add to Verisk's adjusted earnings per share by the end of 2026. Its shares rose 2% before the open.
Goldman Sachs and PJT Partners are serving as financial advisers to Verisk, while William Blair advised AccuLynx.
Verisk also reported better-than-expected profit for the second quarter on Wednesday, driven by strong demand from property and casualty insurers for its underwriting risk assessment tools.
Adverse weather has prompted P&C insurers to spend more on analytics to better assess policy risks.
On an adjusted basis, Verisk earned $1.88 per share in the second quarter, beating analysts' estimates of $1.77, according to data compiled by LSEG.
On reported basis, the company's underwriting revenue increased 8.3% in the quarter, while claims revenue climbed 6.6%.
New Jersey-based Verisk now expects adjusted earnings per share between $6.80 and $7.00 for 2025, a slightly narrower range compared with $6.80 to $7.10 it had expected earlier.
But the company raised its full-year revenue forecast to between $3.09 billion and $3.13 billion, up from $3.03 billion to $3.08 billion earlier.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Geeky Gadgets
24 minutes ago
- Geeky Gadgets
iOS 26 Beta 5: Release Date & What to Expect!
Apple's iOS 26 Beta program is advancing steadily, with Beta 5 set to launch on August 4, 2025. Building on the enhancements introduced in Beta 4, this upcoming release is expected to refine the user experience further as Apple prepares for the official iOS 26 launch in mid-September. Below is a detailed look at the key updates, improvements, and what lies ahead for iOS 26 in a new video from iReviews. Watch this video on YouTube. Key Highlights from iOS 26 Beta 4 iOS 26 Beta 4 introduced a range of updates aimed at enhancing performance, usability, and functionality. These changes reflect Apple's ongoing commitment to delivering a seamless and efficient operating system. Key improvements include: Performance and Stability: Faster app launches and reduced system crashes, making sure a smoother and more reliable experience. Faster app launches and reduced system crashes, making sure a smoother and more reliable experience. Battery Life: Improved energy efficiency, allowing devices to last longer on a single charge, even during intensive use. Improved energy efficiency, allowing devices to last longer on a single charge, even during intensive use. Safari Updates: Haptic feedback when initiating downloads, providing a tactile response to user actions for better interaction. Haptic feedback when initiating downloads, providing a tactile response to user actions for better interaction. Battery Usage Tracking: A new feature that mirrors iPhone activity, offering detailed insights into energy consumption patterns. A new feature that mirrors iPhone activity, offering detailed insights into energy consumption patterns. FaceTime and CarPlay Integration: Hands-free video calls via FaceTime on CarPlay, enhancing convenience and safety while driving. Hands-free video calls via FaceTime on CarPlay, enhancing convenience and safety while driving. Customizable CarPlay Dashboard: The ability to remove Siri suggestions for a cleaner and more personalized interface. These updates demonstrate Apple's focus on integrating hardware and software to create a cohesive and user-friendly ecosystem. Podcast App Enhancements The Podcast app received significant updates in Beta 4, offering users greater control and customization over their listening experience. These enhancements include: Custom Playback Settings: The ability to tailor playback preferences for individual podcasts, making sure an optimized experience for each show. The ability to tailor playback preferences for individual podcasts, making sure an optimized experience for each show. Audio Enhancements: Tools for adjustable playback speeds and dialogue enhancement, improving clarity and comprehension for diverse listening needs. These updates make the Podcast app more versatile, catering to a wide range of user preferences and listening habits. What to Expect in iOS 26 Beta 5 Scheduled for release on August 4, iOS 26 Beta 5 is expected to build upon the foundation laid by Beta 4. Anticipated updates include: Liquid Glass Design Refinements: Further visual enhancements to the interface, making it more polished and visually appealing. Further visual enhancements to the interface, making it more polished and visually appealing. Minor Feature Updates: Additional tweaks and adjustments aimed at optimizing the overall user experience. As Apple approaches the final stages of development, there is speculation that the company may shift to a weekly beta release schedule after Beta 5. This accelerated timeline would allow for more rapid testing and refinement ahead of the official launch. Performance Metrics and iPhone 15 Integration The iOS 26 Beta series has shown impressive performance, particularly when paired with Apple's upcoming iPhone 15 Pro Max. Benchmarks from Geekbench 6 highlight notable gains in processing power and efficiency, showcasing the synergy between iOS 26 and Apple's latest hardware. These improvements are expected to enhance: Multitasking capabilities allow users to switch between apps more seamlessly. Gaming performance, with smoother graphics and faster load times. Overall device responsiveness, making sure a more fluid and intuitive user experience. This integration underscores Apple's focus on delivering a cohesive experience across its devices, using both hardware and software advancements to maximize performance. Release Timeline and Final Launch Apple's iOS 26 release schedule aligns with its annual iPhone launch, making sure the operating system is optimized for the latest devices while maintaining compatibility with older models. Key dates to note include: September 8: Official announcement of the iPhone 15 lineup. Official announcement of the iPhone 15 lineup. September 12: Pre-orders for the new iPhones begin. Pre-orders for the new iPhones begin. September 15: Final release of iOS 26, coinciding with the iPhone 15 launch. Final release of iOS 26, coinciding with the iPhone 15 launch. September 19: Shipping of the new iPhones starts, with iOS 26 pre-installed. This timeline ensures that iOS 26 is ready to complement the capabilities of the iPhone 15 series while providing a polished experience for users of older devices. Looking Ahead The iOS 26 Beta program continues to deliver meaningful updates, with Beta 5 poised to bring additional refinements. From performance improvements and battery optimization to enhanced app functionality, Apple is setting a high standard for its next major operating system release. As the final launch approaches, users can anticipate a feature-rich experience designed to complement the advanced capabilities of the iPhone 15 lineup. Gain further expertise in iOS 26 Beta by checking out these recommendations. Source & Image Credit: iReviews Filed Under: Apple, Apple iPhone, Top News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
The Guardian
26 minutes ago
- The Guardian
Europe's trade deal with the US was dead on arrival – it needs to be buried. Here's how to do it
Ursula von der Leyen's Turnberry golf course deal has been rightly called a capitulation and a humiliation for Europe. Assuming such an accord would put an end to Donald Trump's coercion and bullying was either naive or the result of a miserable delusion. The EU should now steel itself and reject the terms imposed by Trump. Is this deal really as bad as it sounds? Unfortunately, it is, for at least three reasons. The blow to Europe's international credibility is incalculable in a world that expects the EU to stand up for reciprocity and rules-based trade, to resist Washington's coercion as Canada, China and Brazil have, rather than condoning it. Economically, it's a damaging one-way street: EU exporters lose market access in the US while the EU market is hit by more favoured US competition. Core European industrial sectors such as pharma and steel and aluminium are left by the wayside. The balance also tilts in the US's favour in important sectors such as consumer goods, food and drink, and agriculture. Tariffs tend to stick, so this is long-term damage. The EU even gives up its right to respond to future US pressures through duties on digital services or network fees. To top it off, von der Leyen's defence and investment pledges (for which she had no mandate) go against Europe's interest. The EU's competitiveness predicament is precisely one of net investment outflows. As international capital now reallocates under the pressures of Trumponomics and a weakening dollar, the case for Europe to become a strategic investment power was strengthening. Von der Leyen's promise of $600bn in EU investment in the US is therefore disastrous messaging. How could this happen? All EU member states wanted to avoid Trump's 30% tariff threat and a trade war, but none perhaps as much as Germany and Ireland, supported by German carmakers and US big tech firms. Yet Irish sweetheart digital tax deals, as well as BMW and Mercedes's plans to move production hubs to the US (also to serve the EU market), cannot be Europe's future. EU governments were distinctly unhelpful in building the EU's negotiating position. But in the end, it was von der Leyen who blinked and she has to take responsibility. Her close team took control in the closing weeks and went into the final meeting manifestly prepared only to say yes, which made Trump's steamrolling inevitable. Let's think of the counterfactual: if von der Leyen had stepped into the room and rejected these terms, Trump's wrath and some market turmoil may have ensued. But ultimately it would very likely have come to a postponement, a new negotiation and, at some point, a different deal that would not be so lopsided or unilaterally trade away deep and long-term European interests and principles. Instead, von der Leyen became a supplicant to a triumphant Trump. The situation is reminiscent of the final rounds of the Brexit negotiations five years ago when von der Leyen similarly was giving in to unacceptable demands from Boris Johnson, only to U-turn under pressure from a steelier EU chief negotiator and a quartet of member states. Today, von der Leyen runs Brussels with a strong presidential hand and has largely done away with internal checks and balances inside the commission. That is her prerogative and her style, but the upshot should not be weak, ineffective and unprincipled dealings on Europe's major geopolitical challenges, from Trump to Gaza. The 'deal' in Scotland is in reality an unstable interim accord. Nothing is yet inked or signed; Washington and Brussels are already locking horns on its interpretation and negotiations on the finer (and broader) points are ongoing. The 27 EU governments will inevitably get involved as the final deal needs to be translated into an international agreement and EU law. Some big powers – Germany and Italy seemingly – are on board, reluctant or not. However, internal political dynamics may change their calculations. Opposition parties and rightwing contenders who are a real political threat to leaders in Germany and France are already lambasting the deal. Unless von der Leyen strikes a dirty bargain with the member states, the European parliament will also have a say. The longtime chair of its trade committee, Bernd Lange, has set the tone for how the deal would be viewed there, calling it 'asymmetry set in stone' and even 'a misery'. As details seep out on what von der Leyen has really agreed to and what the US expects from the EU, and all the consequences become clear, an already unpalatable deal may become even more so. Weakening US economic data and returning stock market jitters show that Trump's negotiation footing is fragile. His new tariff threats come with new extensions, up to 90 days in the case of Mexico, as his position is overstretched. For Europe, the lesson from the Brexit negotiations – one that von der Leyen ought to have grasped before now – is that nothing is agreed until everything is agreed. There is now an opportunity for EU governments and the European parliament to course correct and salvage something from this train wreck. Georg Riekeles is the associate director of the European Policy Centre, and Varg Folkman is policy analyst at the European Policy Centre
Reuters
an hour ago
- Reuters
India will buy Russian oil despite Trump's threats, NYT reports
Aug 2 (Reuters) - Indian officials have said they would keep purchasing oil from Russia despite the threat of penalties that U.S. President Donald Trump said he would impose, the New York Times reported on Saturday. Reuters could not immediately verify the report.
