01—Abstract
Summary
Summary of the 8-K filed April 1, 2024. Cited figures are marked; the original filing is the authoritative source.
Verisk Analytics, Inc. filed this Current Report on Form 8-K to disclose the appointment of Gregory (Greg) Hendrick to its Board of Directors, effective immediately on April 1, 2024.
The filing states that the appointment increases the size of the Board from ten to eleven members, and that Mr. Hendrick will stand for election at the 2024 annual shareholders meeting for a one-year term. The Board has not yet determined which committees he will serve on. The filing describes Mr. Hendrick, age 58, as having more than 35 years of insurance and reinsurance leadership and reinsurance underwriting experience.
He has served as CEO of Vantage Group since October 2020, and as CEO of AXA XL from 2018 to 2020. Previously he spent 25 years with XL Group companies in roles including Chief Executive of Reinsurance and Chief Executive of Insurance. The filing states he is an independent director, will participate in the existing Director Compensation Plan, and has no related party transactions requiring disclosure under Item 404(a) of Regulation S-K.
The accompanying press release (Exhibit 99.1) is furnished rather than filed. It quotes CEO Lee Shavel and Board Chair Bruce Hansen welcoming the appointment, with Shavel stating Hendrick's industry understanding will help Verisk continue to innovate for insurance clients.
02—Key points
Key Highlights
- Greg Hendrick appointed independent director of Verisk Analytics, Inc. effective April 1, 2024
- Board size increases from ten to eleven members as a result of the appointment
- Hendrick, age 58, will stand for election at the 2024 annual shareholders meeting for a one-year term
- Current role: CEO of Vantage Group since October 2020; previously CEO of AXA XL (2018 to 2020)
- Prior experience includes 25 years at XL Group companies, including Chief Executive of Reinsurance and Chief Executive of Insurance
- Committee assignments have not yet been determined by the Board
- No related party transactions requiring disclosure under Item 404(a); he will receive compensation under the existing Director Compensation Plan
03—Questions
Frequently Asked Questions
Who is the new director and what is his background?
Gregory (Greg) Hendrick, age 58, is CEO of Vantage Group, a Bermuda-registered specialty insurance, reinsurance and insurance-linked securities provider. He previously served as CEO of AXA XL from 2018 to 2020 and spent 25 years in leadership roles at XL Group companies, and he began his career at AIG.
Does the board appointment change the size of the Board?
Yes. The filing states that the Company's Board of Directors will increase from ten to eleven members as a result of adding Mr. Hendrick.
When will Mr. Hendrick face shareholders for election?
The filing states he will stand for election at the 2024 annual shareholders meeting, along with the incumbent directors, to serve a one-year term until the next annual shareholders meeting.
How will Mr. Hendrick be compensated?
The filing states that, as an independent director, he will participate in the Company's existing Director Compensation Plan, described in the proxy statement filed on April 7, 2023.
04—Continue