Euromoney Institutional Investor PLC is expanding its insurance and reinsurance business with the acquisition of Insider Publishing Limited.
Euromoney has paid an initial £16.8 million for Insider Publishing, funded from its existing committed borrowing facility. It expects to make an additional deferred consideration payment in 2015 based on the growth in profits of Insurance Insider from 2012 to the average of the 2013 and 2014 calendar years. Insider Publishing recorded an unaudited pre-tax profit of £2.1 million on revenues of £4.7 million for the year to December 2012.
Insider Publishing, set up by former Lloyd’s insurance underwriter Peter Hastie in 2000, is a leading information source for the international insurance and reinsurance markets. Its business model is centred on trusted, premium subscription content served through The Insurance Insider, the non-life insurance and reinsurance online news service, and a number of other specialist titles, all providing senior industry professionals and advisers with insight and intelligence on the London and international insurance and reinsurance markets. Insider Publishing also runs a series of events including The Insurance Insider Honours awards dinner and the London One Hundredforum for senior executives of the London insurance market.
“We are delighted to acquire Insider Publishing,” said Richard Ensor, chairman of Euromoney. “Euromoney expects the international non-life insurance and reinsurance markets to remain major consumers of business information. The acquisition gives Euromoney the opportunity to build critical mass in these markets and it will continue to run the two complementary brands, Reactions and The Insurance Insider, side by side.”
- Euromoney Institutional Investor PLC interim management statement for 4 months to January 30, 2013 February 4, 2013
- Euromoney Institutional Investor PLC acquires Californian conference business TTI/Vanguard January 7, 2013
- Euromoney Institutional Investor Plc announces annual results Posted on November 15, 2012
- Euromoney Institutional Investor PLC – pre-close trading update Posted on September 25, 2012
- Euromoney Institutional Investor PLC – Interim Management Statement for the period from April 1 to July 24, 2012. Posted on July 26, 2012
- Euromoney Institutional Investor – trading update – half year profits of not less than £47M Posted on April 17, 2012
- A Fusion Deal: International grain trading conferences, Global Grain Geneva and Global Grain Asia, sold to Euromoney Institutional Investor Posted on February 29, 2012
- Euromoney Institutional Investor to acquire Ned Davis Research Group for £69M Posted on June 21, 2011
- Euromoney Institutional Investor PLC acquires Arete Consulting Posted on August 13, 2010
- Euromoney sells EIC to Broadfern September 2007
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