People Moves: At Verisk, Shavel to Succeed Stephenson as CEO, Anquillare to Become President
Financial data and analytics company Verisk announced that Scott G. Stephenson, chairman, president and chief executive officer, will be retiring following the company’s 2022 shareholder meeting.
Stephenson will be succeeded as CEO by Lee M. Shavel, who is currently chief financial officer and group president. At the same time, Mark V. Anquillare, currently chief operating officer and group president, will become president of Verisk.
The annual shareholder meeting, which was held in May last year, has not yet be scheduled, according to a spokesperson.
Stephenson joined Verisk in 2001 and since his appointment as COO in 2008, president in 2011 and CEO in 2013, the company has become more data analytic and software intensive. According to the company, during his tenure, the company has nearly doubled its annual revenue and tripled its market capitalization and the number of countries in which it operates. During his tenure as CEO, Verisk became a part of the S&P 500 Index.
In connection with his retirement from the company, Stephenson will step down from the Verisk board of directors. The roles of chair of the board of directors and CEO will be separated effective following the 2022 annual meeting.
The company said Shavel’s replacement as CFO will be named at a later date.
The soon-to-be new CEO, Shavel, joined Verisk in 2017 and has served as CFO since that time, driving the company’s financial strategy and capital management philosophy. In 2021, he also became group president of the company’s energy and financial services segments.
Anquillare has been with Verisk for nearly 30 years. He served as CFO during the company’s initial public offering in 2009 and through 2016. Since 2016, Anquillare has served as Verisk’s COO and led the company’s insurance vertical.helping to grow this segment vertical.
Verisk serves the insurance, energy, real estate and financial services industries. It is the leading provider of statistical, actuarial and underwriting data for the U.S. property/casualty insurance industry.
Verisk was established to serve as the parent holding company of Insurance Services Office, Inc. upon the completion of the initial public offering in 2009. ISO was formed in 1971 as an advisory and rating organization for the property/casualty insurance industry to provide statistical and actuarial services, develop insurance programs, and assist insurance companies in meeting state regulatory requirements.
Over the past decade, Verisk has entered new markets, placed a greater emphasis on analytics, and pursued acquisitions. Among its acquisitions are Data Driven Safety, ACTINEO, Jornaya, Franco Signor, FAST, BuildFax, Genscape and Keystone Aerial Surveys, Rulebook, PowerAdvocate, Sequel, LCI, Fintellix, G2 , Greentech Media, Validus-IVC, MAKE, MarketStance, Arium, Healix Risk Rating, The GeoInformation Group, Analyze Re, Risk Intelligence Ireland, Emergent Network Intelligence and 4C Solutions.
Top Photo: Scott Stephenson
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