Setting a new standard for SNL’s unrivaled insurance industry information and comprehensive product offering
Charlottesville, VA. September 28, 2011 – SNL Financial LC and Summit Business Media today announce SNL’s acquisition of Highline Data, Summit’s insurance information services unit. The acquisition bolsters SNL’s position as the leading U.S. insurance financial information provider across the property & casualty, health and life insurance sectors. With more than twenty years as an industry leader, Highline Data brings a wealth of history and proven experience to SNL Insurance’s existing offerings.
As part of the acquisition, Highline Data’s clients will now have the ability to access SNL’s robust financial institutions database with detailed profiles on more than 20,000 U.S. financial institutions, including banks & thrifts, broker/dealers, investment companies and mortgage lenders. At the same time, Summit will retain long-term access to the same insurance industry financial data and analysis previously available through Highline Data for use in its own products and services. The sale of Highline Data will have no impact on Summit’s Marketing Data Group, including Judy Diamond, Agent Media and Kirschners.
“SNL has earned the trust and respect of the insurance community through our commitment to accuracy, depth of coverage, client support, and ever-evolving enhancements to our products, and we are excited to be partnering with a team who shares our passion for these values,” commented Jon Wright, Director of SNL Insurance, a division of SNL. “Highline Data is well-known for its industry expertise, timeliness and depth of analysis, as well as its longstanding track record of service to the industry. The marriage of SNL and Highline Data will provide all of our clients with the new standard for data, features, and functionality in the insurance information industry.”
“As a primary redistributor of U.S. regulatory insurance data, Highline Data provides valuable information on the strength of the insurance industry and of individual companies to the industry itself, as well as to analysts and investors, making it a natural fit within SNL’s best-in-class information franchise,” said Andrew L. Goodenough, President & CEO of Summit.
DeSilva + Philips acted as financial advisor for Summit and SNR Denton was legal advisor. BMO Capital Markets acted as financial advisor for SNL and Dennis Rooker, PC was legal advisor. Terms of the transaction were not disclosed.
SNL Financial is a leading provider of financial information on more than 3,300 public companies and 50,000 private companies in the business sectors critical to the global economy: Banking, Financial Services, Insurance, Real Estate, Energy and Media & Communications. The SNL information service integrates breaking news, comprehensive data and expert analysis into an electronic database available online and updated around the clock. SNL’s statutory data includes detailed financial data on each filer, reinsurance, investment and loss reserve schedules, data by state and line of business and hundreds of ratios, snapshots and analytics, available exclusively as part of SNL Unlimited service for Financial Institutions. SNL is the only information provider to offer clients a comprehensive insurance product, linking statutory data with public company data, mergers & acquisitions data, proprietary news, documents and more. To find out more about SNL Unlimited, contact [email protected] or call +1.866.296.3743.
Summit Business Media is a leading B2B media and information company serving the insurance, investment and legal markets. Summit strives to be “The Next Generation of Business Information” for executives and practitioners by providing breaking news and analysis, in-depth practice management strategies, business-building techniques and actionable data. Summit services the information needs of its customers through numerous channels, including digital, print, and live events. Summit publishes 16 magazines and 150 reference titles, operates 20 websites and hosts a dozen conferences, including the world’s largest mining investment conference in South Africa. Summit’s Data Division provides data on 1.5 million insurance agents and nearly one million health and benefits plans in the U.S. Summit employs 350 employees in ten offices across the United States. For more information, please visit summitbusinessmedia.com.
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Summit Media Contact:
212-537-5177, Ext 2