CRS Temporary Housing Announces Merger with Klein & Company
In partnership with GenNx360 Capital Partners, CRS Temporary Housing merged with Klein & Company on November 30, 2018.
Founded in 1995 and based in Golden, Colo., Klein & Co. provides hotel accommodations and fully furnished temporary housing for families who have been displaced from their homes.
Eberl Claims Service Announces Acquisition of Carwood Claims
Colorado-based Eberl Claims Service, a national provider of both daily and catastrophe insurance claim adjusting services, announced that it has completed the acquisition of Carwood Claims.
Founded in 2003, Carwood Claims is a leading regional provider of independent adjusting services. Headquartered in Denver, CO, with staff located across the Western United States, Carwood specializes in daily property claim services, including loss consulting, appraisal and dispute resolution, and catastrophe claims management.
Verisk to Acquire Rulebook
Data analytics provider Verisk has signed a definitive agreement to acquire Rulebook, a provider of business intelligence and software solutions for the London Insurance Market.
Rulebook’s proprietary, distinctive pricing engine can be used for internal pricing and underwriting as well as external distribution for the specialty insurance market through its Rulebook Hub platform. Rulebook also has a data analytics offering that develops business intelligence solutions for clients to enable historical, current, and predictive views of business operations.
Its pricing engine is used by some of the leading carriers in the London specialty insurance market to build underwriting rules for complex specialty insurance products through a simple, easy-to-use web-based platform. Through its platform, Rulebook provides clients with greater accuracy and better control over the pricing and distribution process, thus facilitating consistency and improving regulatory reporting and compliance.
The purchase price is $87 million in cash, funded through cash on hand and existing bank facilities, subject to typical closing adjustments. The transaction is expected to be accretive to 2019 adjusted EPS. In addition, Verisk expects the acquisition to generate an attractive return in excess of Verisk’s cost of capital. The transaction is expected to close in the fourth quarter of 2018, subject to the completion of customary closing conditions.
Verisk will discuss the transaction and Rulebook’s solutions and business in greater detail at its upcoming Investor Day on December 6, 2018.
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