NU Online News Service, May 14, 2004, 9:03 a.m. EDT – Highline Data L.L.C., an affiliate of National Underwriter Company’s parent, Highline Media, has acquired certain insurance and banking data assets from Thomson Media, a division of The Thomson Corp.[@@]
Terms of the transaction were not disclosed.
Following the acquisition, Highline Data will have 2 principal product lines–one known as National Underwriter Insurance Data Services, and the other as Highline Banking Data Services. Prior corporate names that have been used in conjunction with these products, including Thomson Financial Insurance Solutions and Sheshunoff Information Services, will continue to be used during a brief period of re-branding.
The group’s leading products in insurance data, derived principally from the National Association of Insurance Commissioners’ statutory data, include U.S. Insurance, Insurance Analyst, Insurance Analyst Pro, and the InsLink spreadsheet add-in.
The group also publishes the newsletters Insurance Chronicle, Insurance M&A Weekly and the Daily Insurance Reporter. In banking, the group’s BankSource and BankSearch product lines deliver data principally from federal regulatory authorities, and provide proprietary financial, M&A and branch data on U.S. banks and financial institutions.
Prior to founding Highline Media, Andrew L. Goodenough, Highline’s president and CEO, served as president of the Financial Publishing and Conferences Group, a division of Thomson Corp.
“When the opportunity arose to acquire Thomson Media’s insurance and banking data assets, we recognized the superb fit to the array of insurance and financial products from our first acquisition, the National Underwriter Company,” Goodenough said. “Insurance data in summary form will provide strong content for our newsweeklies, National Underwriter Property-Casualty and Life-Health editions, adding value to our more than 350,000 insurance readers.”
He added that the banking data business “allows us to continue our expansion beyond our traditional insurance roots to the broad array of financial services.”
The business headquarters for the unit will remain in Cambridge, Mass. and Austin, Texas, with sales and support staff located in major U.S. cities, including Hoboken, N.J., home of NUCO’s 2 newsmagazines.