Euromoney Institutional Investor PLC, the international online information and events group, is expanding its insurance and reinsurance business with the acquisition of Insider Publishing Limited
Insider Publishing 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 (www.insuranceinsider.com) 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 Hundred forum for senior executives of the London insurance market.
The acquisition is expected to be earnings enhancing for Euromoney from financial year 2013. Euromoney has paid an initial £16.8 million in consideration for a 100% equity interest in 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.
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