HgCapital sells Sequel Business Solutions for £250m
HgCapital has sold Sequel Business Solutions, a services and software provider to Lloyd’s of London and the wider insurance market, to Verisk Analytics for £250m. Since procuring investment from HgCapital in 2014, Sequel has broadened its key Eclipse product to support a full range of complex risk activities, including risk aggregation, claims management and reinsurance. The company has also seen a compound revenue growth of 14% per annum and its customer numbers treble. Verisk is a US-based data analytics provider specialising in property/casualty insurance, natural resources and financial services. HgCapital has made £20.2m on the sale.