Moody’s Corporation has announced the acquisition of Praedicat, a provider of casualty insurance analytics, for an undisclosed sum.
This acquisition will add global casualty and liability modelling, including in the Asia Pacific region, to Moody’s range of insurance solutions.
This acquisition follows Moody’s 2021 purchase of RMS and is part of Moody’s broader investment in new analytics and growth within the casualty market.
Praedicat’s models and predictive analytics assist insurers and reinsurers in managing risks linked to catastrophic events, such as product and environmental liabilities.
“As losses from catastrophic events are increasing, insurers are constantly looking for science-based casualty data and analytics,” said Rob Fauber, President and Chief Executive Officer of Moody’s.
“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,” he adds.
Moody’s indicated that the acquisition would not materially impact its 2024 financial results.
