Moody’s has acquired casualty insurance analytics provider Praedicat. The acquisition adds casualty and liability modelling to Moody’s insurance industry offering.
Praedicat’s models and predictive analytics aim to help insurers and reinsurers assess risks associated with catastrophic events, including product and environmental liabilities. Moody’s plans to integrate Praedicat’s capabilities into its existing suite of insurance solutions, which it says will provide casualty insurance industry customers with a holistic approach to understanding their risk exposure.
Rob Fauber, president and CEO of Moody’s, said: “As losses from catastrophic events are increasing, insurers are constantly looking for science-based casualty data and analytics. Praedicat’s industry-leading liability modelling enhances our data and analytics capabilities to deliver actionable insights that will help the casualty insurance industry customers navigate the complex risk landscape.”
The transaction follows Moody’s 2021 acquisition of RMS and adds to its investments in new analytics and growth in the casualty market.
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