Thomson Reuters Expands Insurance Offerings
TRI 
Thomson Reuters Corporation, a global leader in providing information to professional markets, has recently made significant strides in expanding its presence in the insurance and reinsurance industry through strategic acquisitions. The company’s acquisition of World Business Media Limited is a testament to its commitment to enhancing its offerings for professional clients in this sector.
Thomson Reuters has acquired World Business Media Limited, a London-based company that specializes in providing editorial coverage for the reinsurance industry. This acquisition is part of the Reuters News division of Thomson Reuters and will report into Reuters Professional. The acquired business offers a range of products including The Insurer and The Insurer TV, along with networking opportunities through The Insurer Events. These products cater to the information needs of professionals in the insurance and reinsurance space, providing valuable insights and analysis.
The acquisition of World Business Media Limited aligns with Thomson Reuters’ strategic plan to expand its offerings for professional clients. As part of this plan, the company has earmarked significant investment, with an allocation of $10 billion for acquisitions and approximately $100 million per year for investments in AI capabilities. This demonstrates the company’s commitment to leveraging technology and strategic partnerships to enhance its services and provide greater value to its customers in the insurance and reinsurance sector.
Thomson Reuters’ move to acquire World Business Media Limited is a proactive step to address the evolving needs of the insurance and reinsurance industry. As highlighted by Paul Bascobert, president of Reuters, the company plans to invest in the acquired business to increase its coverage and reach, ultimately bringing services of greater value to customers in this sector. This forward-looking approach reflects Thomson Reuters’ dedication to staying at the forefront of industry developments and delivering top-tier solutions to its professional clients.
Additionally, the acquisition of World Business Media Limited is part of a series of strategic moves by Thomson Reuters to bolster its presence in the professional markets. This includes the recent closure of a $650 million cash acquisition of Casetext, an AI company, and the increased bid to acquire a majority stake in Pagero Group, an e-invoicing and tax solutions firm. These actions collectively underscore the company’s commitment to expanding its footprint and enhancing its offerings across various professional verticals.
Thomson Reuters Expands into New Customer Markets and Professional Verticals
Thomson Reuters’ acquisition of World Business Media represents a strategic move to expand its presence in new customer markets and professional verticals, particularly within the insurance and reinsurance industry. The acquisition of World Business Media, a specialty publication for the insurance industry, is part of Thomson Reuters’ broader strategy to provide news and insight for professional clients in diverse sectors.
World Business Media, based in London with an editorial hub in New York, is a cross-platform, subscription-based provider of editorial coverage for the insurance and reinsurance space. By integrating this business into the Reuters News division, Thomson Reuters aims to enhance its ability to deliver comprehensive and high-quality information to professionals in the insurance and reinsurance industry. This move reflects the company’s commitment to continuously expanding its offerings to meet the evolving needs of its professional clients.
In addition to the acquisition of World Business Media, Thomson Reuters has been actively pursuing other strategic acquisitions to strengthen its position in the professional markets. The company recently launched a $626 million cash bid for Nasdaq-listed Pagero, a Swedish e-invoicing provider, demonstrating its commitment to diversifying its portfolio and expanding into new professional verticals. These strategic initiatives underscore Thomson Reuters’ proactive approach to broadening its reach and enhancing its capabilities to serve a wider range of professional clients.
Furthermore, the acquisition of World Business Media is a testament to Thomson Reuters’ dedication to providing valuable insights and information across various industry sectors. By expanding its presence in the insurance and reinsurance industry, the company is poised to deliver specialized, high-quality content to professionals in this sector, further solidifying its position as a leading provider of information and solutions for professional markets.
Thomson Reuters Becomes Majority Shareholder in Pagero Group AB
Thomson Reuters has made significant inroads into the e-invoicing and tax solutions space through its acquisition of a majority stake in Pagero Group AB. The acquisition, valued at approximately 8.1 billion Swedish kronor, saw Thomson Reuters acquire approximately 53.81 percent of the shares in Pagero Group AB from key shareholders, making it the majority shareholder in the company.
With an offer price of 50 Swedish kronor per share, Thomson Reuters has demonstrated a strong commitment to solidifying its position in the e-invoicing and tax solutions sector. The acceptance period for the offer is set to expire on 9 February 2024, as recommended by Pagero’s board, further highlighting the company’s strategic intent to expand its influence in this professional vertical.
The acquisition of Pagero Group AB is a strategic move by Thomson Reuters to enhance its capabilities in the e-invoicing and tax solutions market. By becoming the majority shareholder, the company aims to leverage Pagero’s expertise and resources to further strengthen its position in this sector, ultimately enhancing its ability to deliver comprehensive solutions to professional clients.
Moreover, the acquisition reflects Thomson Reuters’ commitment to engaging in constructive discussions with key shareholders to reach agreements that align with the company’s strategic objectives. As emphasized by Steve Hasker, CEO and President of Thomson Reuters, the acquisition of Pagero Group AB is a result of productive discussions with key shareholders, underscoring the company’s proactive approach to strategic partnerships and investments in professional markets.
The information provided is for general informational purposes only. All investment and financial planning decisions should be made after consulting with a professional financial advisor.