EMC Insurance (EMCI) Expects $14.6M on Verisk (VRSK) Stock Sale
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EMC Insurance Group Inc. (Nasdaq: EMCI) today announced that it expects to record an after-tax realized gain of approximately $14.6 million, or $1.10 per share, in the fourth quarter on the sale of its common stock investment in Verisk Analytics, Inc (NASDAQ: VRSK).
Verisk (formerly known as Insurance Services Office, Inc.) completed its Initial Public Offering on October 7, 2009. In conjunction with that IPO, the Company sold 100% of its holdings of Verisk (1,064,100 shares) at a price of $21.12 per share ($22.00 sales price less a 4% underwriters' fee).
EMC Insurance Group Inc., through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.
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