NEW YORK (Bloomberg) — Verisk Analytics Inc., the supplier of actuarial data co-owned by property-casualty insurers including Travelers Cos. and CNA Financial Corp., plans to raise as much as $2.06 billion in an initial share sale that could be the largest since Visa Inc. in 2008.

Verisk plans to sell 85.3 million shares at a price from $19 to $21 each, the Jersey City, New Jersey-based firm said in a regulatory filing. Underwriters led by Bank of America Corp. and Morgan Stanley have the option to sell an additional 12.7 million shares if demand warrants.

IPOs dropped to a decade-low $1.7 billion in the first quarter of 2009 as the credit contraction sent indexes to their worst annual losses since the Great Depression last year. The sale could be the largest since Visa raised $19.7 billion in March 2008. Verisk joins more than 20 other companies that have filed to go public in the U.S. since the beginning of August, compared with 16 for the first half of the year, according to data from Renaissance Capital LLC's IPOHome.com Web site.

In the US this year, 16 companies have raised $4.35 billion compared with 36 firms tapping the public markets for $29.5 billion in the same period last year, according to Bloomberg data.

Verisk is seeking to capitalize on demand for data that insurance companies use to price coverage and detect policyholder fraud. Insurers analySe records on everything from weather to driving behaviour to select customers and set rates.

"There is a long-term trend for companies to set strategy and direct operations using data and analytics to guide their decisions, which has resulted in a large and rapidly growing market for professional and business information," Verisk said in the filing.

The company's net income was $90.9 million for the six months ended June 30, compared with $80.9 million in the year ago period, the filing shows. Revenue rose 15 percent to $503.7 million.

Verisk will have two types of stock after the sale. Class A shares are being sold to the public, while Class B will be restricted on when it can be sold, the filing shows. Class B shares will convert to Class A after the restrictions on selling are lifted, which will be completed two years after the offering.

The company won't earn any proceeds from the sale. American International Group Inc., Hartford Financial Services Group Inc. and Travelers Cos. are among insurers selling stakes in the company. Warren Buffett's Berkshire Hathaway Inc. is also an owner and isn't selling shares in the initial public offering, the filing shows.

AIG may raise as much as $159.4 million, excluding fees and any additional shares that may be sold. CNA Financial Corp., which is offering the most shares for sale, could make $314.8 million.

Verisk was previously known as Insurance Services Office Inc., which was founded in 1971. The company will trade on the Nasdaq Stock Market under the ticker VRSK.